CryptoWhistle - Crypto Currency Tracker logo CryptoWhistle - Crypto Currency Tracker logo
Cryptopolitan 2021-08-20 03:00:49

Why Blockchain-based Metaverses are Better Than Regular Ones

The word “metaverse” was coined by legendary science fiction author Neal Stephenson back in 1992. In his book Snow Crash, he described a future where humans live inside a massive 3D computer network and interact with each other using avatars. Stephenson proposed a metaverse within our own world, but they were tied together. Actions in the alternate version of the world would impact this one, and vice versa. This idea has intrigued people ever since, inspiring countless variations on the theme over the years. But most had one thing in common: They were all centralized, which means that one entity could control the metaverse and everything in it, including people’s virtual identities, and even erase them. The Blockchain Metaverse That changed in 2013 when Ethereum founder Vitalik Buterin published a white paper proposing what’s now commonly called a “world computer” — with digital interactions based on distributed blockchain technology rather than conventional centralized servers. Besides enabling applications like decentralized finance and transparent voting, Ethereum enables decentralized metaverses like Next Earth. Instead of having just one server hosting simulated worlds, this new model allows anyone, anywhere to truly own their virtual assets and identity, without fear of centralized censorship or seizure. Why are Decentralized Metaverses Better? Decentralized systems don’t have any single point of failure. They can be co...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.