The Metaverse has evolved beyond a player’s fantasy world. Not only has it caught the eye of top investors in the tech world lately, but Facebook is also reportedly doing its utmost to rebrand itself as Meta, reflecting its repositioning of priorities as a social community builder.
But what exactly is the metaverse, and how will blockchain technology influence the rise (or fall) of this virtual world?
Metaverse refers to a 3D world created by interacting with digital and emerging technologies such as virtual reality, augmented reality, extended reality, artificial intelligence and the internet of things. It allows real-time, albeit virtual, interaction of users through computer-generated avatars. Users can collaborate and participate in different activities without limitation of geographical locations, while the metaverse remains persistent, synchronous and offers cross-platform interoperability.
The Metaverse seeks to blur the lines between the physical and virtual worlds by offering internet users a chance to experience both simultaneously. There are still many speculations regarding the full scope of the Metaverse; Facebook envisions a virtual social community that can provide users with an alternative life. Microsoft sees it from the perspective of collaborative work without barriers of time and place. On the other hand, gaming platforms such as Roblox define the metaverse from the goal of an immersive gaming experience.
Regardless of the complexity of articulating the Metaverse, experts agree on specifically established layers that will make it possible.
Network and IT:
To power the Metaverse, there is a need for infrastructure that can enable high throughput and low latency. Additionally, graphics chipsets, processors, 5G networks, and high-quality computer networks will also play a role in creating the base layer of the metaverse.
For physical (human) objects to interact in a virtual environment, there must be a way to interact with both worlds. VR headsets, holograms, haptic devices, etc. allow users to interact with virtual environments. Basically, interface devices are not a new invention; VR gadgets have been an integral part of virtual gaming culture for decades. They are, however, essential in the metaverse to interact with the virtual world. Additionally, companies like Meta and Varjo are developing gadgets explicitly designed for the Metaverse experience.
This is where the real metaverse experience occurs. People can meet, interact, build, play games and do other things, just like in real life. You can even own a property in the metaverse; digital real estate prices in the Metaverse have skyrocketed over the past few years. Gucci already has an established presence in the Roblox Metaverse, while Coca-cola only recently launched its virtual flavor. However, owners will largely determine the experience in the metaverse.
Some people see the Metaverse as a new iteration of social media that will make it easier to interact with friends, family, and work. While this is true in some sense, one of the major flaws of social media on the Web2 was that centralization gave companies extensive control over user data.
The question to ask, however, is; how do you meet the extended demands of a virtual world while keeping it safe from the controlling whims of technological behemoths?
The answer? Block chain technology. Web3. Flow.
Blockchain technology makes it a perfect tool to power digital ecosystems. From storing large amounts of data to creating a business model, Blockchain technology will influence the metaverse in various ways including; Infrastructure, digital identity (avatars), economy, interoperability, data security and transparency. In each of these cases, Flux has proven to be an invaluable blockchain solution.
To provide users with the best possible experiences, the Metaverse must collect a lot of sensitive and personal data. Storing this information on a central server poses risks of breaches, hacks, and data loss. On the other hand, Flux leverages the encryption security feature of the blockchain to ensure the storage of this data. In addition, Flux allows this data to be evaluated and audited, thus promoting data quality. The validation and transparency inherent in Blockchain technology also guarantees the confidentiality of user data. Flux operates enterprise-grade, decentralized and redundant nodes around the world; this allows for increased accessibility and promotes seamless sharing of VR and AR data. As a BAAS provider, Flux will allow developers to host the infrastructure they need to power the Metaverse on the blockchain.
Avatars are an essential part of the metaverse. Beyond their value as digital representations of real people, they are also the social security number of the Metaverse. The Flux framework can capture specific information related to the user’s identity, such as age and activity, and store it on the blockchain. This eliminates the possibility of identity theft and helps track criminal acts while enabling maximum transparency and fostering a virtual environment with strong social connections. An established social identity will ensure that the same identity is used across multiple virtual worlds, even as the metaverse becomes more interoperable. Since the data on the blockchain is immutable, it cannot be deleted or altered in any form without the consent of the majority of this data integrity.
Digital assets are the currency of the metaverse, with non-fungible tokens (NFTs) being the preferred one. These tokens can be used in in-game purchases, new avatars, and transferring ownership of assets in the metaverse.
Additionally, an overwhelming volume of transactions occurs within seconds; the blockchain can be used to guarantee the transparency and security of these transactions. Flux offers both use cases for NFT deployment and a scalable ecosystem for handling large amounts of transactions:
As the Internet of Things becomes fully integrated into society, the metaverse will be able to sync across different devices and virtual worlds on other platforms. Flux provides the blockchain interoperability needed to provide seamless interactions between people, things, and assets in the metaverse, regardless of platforms. By using a cross-chain protocol, the efficient transfer of data between virtual worlds will promote the development of a decentralized ecosystem.
Flux offers the tools needed to create a decentralized metaverse without authoritarian control. This is the purpose of the internet web3. Join us: www.runonflux.io
#Flux #Shaping #MetaVerse #Blockchain #Technology
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