What do you think Can the Metaverse function without Blockchain?

Metaverse is a revolution in itself. It is the next massive aspect after the invention of the internet. It has changed the way people interact in the digital world.

It is known as the next big thing after the Internet. But do you know how the Internet evolved? What changed the way people lived?

Metaverse is a new technology in place. It will change the way people think and the way people live. And this new technology uses another modern concept of blockchain. Just like a coin, it comes with two sides. Apart from its uses, it has some disadvantages too. There are serious privacy concerns if we enter into a completely virtual world. There’s a breach of data and information process that needs immediate attention.

However, in this article, let’s discuss the development of the internet and answer the most central question, “can Metaverse function without blockchain?”

Development of the Internet:

Did you know that the Internet emerged due to digital collaboration and research efforts from the United States, the United Kingdom, and France? Yes, this interconnected group of networks was developed by the concerted efforts of these three nations.

Have you heard of the term Web 3.0? Web 3.0 is the basis of blockchain technology and the evolution of the metaverse.

Tim Berners- Lee was the father of the World Wide Web(www) and Hypertext Transfer Protocol (HTTP). It is known as Web 1. Web 1 was limited to only a few content creators and the maximum number of content consumers. It included static pages, frames, tables and pictures.

Web 2.0 brought interoperability and workability around the globe via the internet. It was the participative stage of the internet that made the users consume more and create more for the users. Web 2.0 is a social media platform for people to connect. It was known for blogging, podcasting, social networking, and bookmarking.

Web 3.0 is a digital revolution in itself. It includes the utilisation and interaction of people based on Distributed Ledger Systems, blockchain technology, and cryptocurrency. It enables the users to design smart contracts as per their requirements and needs such that the Ethereum intelligent contracts deal in the technology.

Web 3.0 involves artificial intelligence, 3D graphics, blockchain, DLT and Smart contracts. It forms the basis of the metaverse.

But a question arises, can metaverse function without blockchain? What if a new company advances an idea to develop a new form of internet or virtual reality? How will it be different from the metaverse? Will it function on blockchain technology?

What is in store for the metaverse with the new technology?

The metaverse is a digital space giving shape to the virtual reality in place. You can experience everything in the digital area by sitting on the chair on your balcony. To read more about Metaverse, click here:

Before answering whether Metaverse can work without blockchain, let’s first discover what blockchain is.

Blockchain is a commutable network of interconnected groups of ledgers that records decentralised transactions and tracking of business assets. You can add and control anything in the virtual database known as blockchain as it reduces the associated risks and transfer costs of an investment.

How are Blockchain and Metaverse linked to each other?

The metaverse doesn’t have a distinct space or an existential area. Instead, it works on virtual technology.

Moreover, blockchain facilitates the use of Metaverse as it records virtual transactions. To trade virtual elements in Metaverse, you need to invest through NFTs and cryptocurrency, which form an essential ingredient of Metaverse.

The Sandbox and Decantraland provide you with a space where you can invest and take advantage of virtual technology and games. You can purchase virtual land and store it with the help of blockchain technology.

Thus, Metaverse cannot function without the existence of blockchain. To make virtual reality operate smoothly, both Metaverse and blockchain must go hand in hand.

Frequently Asked Questions (FAQs):

1. Does metaverse use blockchain technology?

Ans: Yes. Metaverse is a blockchain-based platform that enables users to invest and create assets in digital eCommerce. Being a blockchain platform, metaverse uses an open-source digital wallet and a DLT to conduct daily transactions.

2. Why is blockchain necessary in the metaverse?

Ans: Blockchain plays a crucial role in Virtual Reality and Augmented Reality. Similarly, it considers the use of cryptocurrency and NFTs in the metaverse. It feels like the functioning of an entire virtual economy with digital assets and decentralised daily transactions.

3. Is Metaverse possible without Blockchain?

Ans: Everything seems possible if given a rational thought. Metaverse can work without blockchain, but it requires thought and a lot of research. But, if you want transparency, interoperability, accessibility, and ease of trading, the metaverse must include blockchain.

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