Top Blockchain Platforms Leading Metaverse Development
You have seen the term “Blockchain” thrown around as a tech jargon in every future-tech article these days. It is because blockchain technology is taking over all industries. You will find the use of blockchain in companies like Goldman, Microsoft, Intel, Pfizer, Ford, and more. Let us give you an insight on what this technology is and its real-life applications.
Blockchain is exactly what it sounds like. It is accurately a chain of blocks. What exactly does that mean?
Imagine a set of blocks connected to each other via chains. Each block has data stored like in a ledger. This data is used for actionables like money transactions, monitoring supply chains, weapons tracking, etc. These databases are shared between the blocks, and new blocks can be added to the same chain.
New blocks can be created by new users, owned and controlled by them too. This makes blockchain the most popular technology for decentralized, cryptography software like Bitcoin. Individuals who buy or mine the bitcoin, own it too. Even a whole new world of Metaverse, which uses AR/VR technology, has adopted blockchain for various applications. It has been used to support monetizing and expanding business opportunities in the Metaverse.
Blockchain and Metaverse Development
Metaverse is built using decentralized, blockchain-enabled applications where individual users own their cryptocurrency, creations, and assets. Metaverse won’t scale without blockchain. It is dependent on blockchain technology to enable transactions and actions in a virtual space for a real-like impact of physical reality. A lot of brands are already acknowledging the power of metaverse and are investing in virtual assets like NFTs as experimental efforts. This explains how Blockchain technology is directly catalyzing the development of Metaverse.
Benefits of Using Blockchain Technology for Metaverse
Blockchain completely changes the way Metaverse functions. From ownership, transferring value, interoperability, security to monetization, blockchain has a key role in building a foundation of Metaverse. Here are a few benefits of blockchain that helps bridge the real world and the metaverse:
- Privacy & Security
The blockchain uses asymmetric-key encryption and hash functions which ensure security of data in the metaverse.
- Quality of Data
Blockchain provides complete audit trails of transactions which allows the users to validate them, increasing the data quality in the metaverse.
Users can exchange data between two or more blockchains which allows migration between virtual worlds. This is because of blockchain’s interoperability.
Blockchain offers the ideal foundation for fair and transparent governance in the metaverse.
- Seamless Data Sharing
The blockchain’s advanced encoding information system enables seamless sharing of AR and VR data, leading to the development of new applications.
Blockchain Platforms Leading Metaverse Development
Now that you know about blockchain and its involvement in the Metaverse, let's check out the top blockchain platforms for enthusiasts like you to follow in 2022.
Ethereum: It allows smart contracts and applications to run without any fraud or third-party interference. Popular examples of Ethereum are- NFTs, Cryptovoxels, and The Sandbox.
Enjin: It is a platform where users can create NFTs which can be liquified into Enjin’s native token or used in games, VR estate, etc.
Cardano: It powers the Pavia metaverse using minimal carbon footprint and lower gas fees to create a decentralized environment.
Bloktopia: It is a platform where users can use a builder tool to create avatars, participate in social activities, and also buy real estate using bitcoin with maximum limit of 21 million.
Decentraland: It is a platform to create Everything 3D. Its virtual marketplace allows trade in its native currency called Mana. There is huge scope for advertising and monetizing in this metaverse.
MetaHero: It allows users to integrate real-world objects into virtual assets using 3D scanning technology. They can be used as real-life solutions in the education and training industry.
Roblox: It is a platform that has over 40 million published games created by its users. It also has ‘spatial voice chat’ feature that enables virtual conversations for social activities in the metaverse.
These blockchain metaverse projects are giving the right motivation to incorporate metaverse in businesses and daily lifestyles. Each metaverse has its own money, functions and rules which makes every usecase a potential way to develop on physical reality.
To make sure that the Metaverse is a safe future, the next-gen is ensuring that this future technology is eco-friendly. Many of these projects are encouraging the evolution of green metaverse blockchains. Like the proliferation of green NFTs where there is scope for open source to reduce the carbon footprints. We can likely see a move towards an energy-efficient metaverse in the future. More and more projects like the Mint fund and Gitcoin are working on making this future a reality. If you wish to create metaverse projects that make a difference, join JioGlass Developers Network, today! Click Here.