Cryptocurrency is building a metaverse economy

All different industries, including cryptocurrency, have gone through digitalization. Data has become an important engine for business growth and for the economy as a whole. They are done at an exponential rate. Education, employment, and entertainment transit the metaverse. This trend is based on instrumental and creative use of data. Exploring them offers great opportunities and better experiences.

Build a new data-driven metaverse economy

First, Itheum invented the NFMe technology. The latter led to the creation of a new data-driven economy for the metaverse. As such, anyone can represent their identity, activities, assets and interests in the form of data avatars. Then, all this information is basic and helps create a more engaging and rich interaction for all users.

It is blockchain technology that makes this new form of digital ownership possible in the metaverse world. In this way, everyone really owns their data. He can get a very significant amount out of it. It can even create an iterative revenue stream. Essentially, data about businesses and consumers can be combined. They find themselves in a cycle of virtuous exchange. It helps drive growth and personal experiences. In addition, both groups will enjoy significant benefits.

The transition from Web2 to Web3 is clear. The goal represents the creation of an attractive and appealing environment. Adventure, exploration and curiosity are challenged to reach unique and relevant levels. The Internet can be experienced in a personal and visual form. For all of this to be true, avatar data is an important and inevitable element. Itheum’s job is to build them.

This technology could create the next wave of value creation. Owning a share in the end is an opportunity that is completely taken away.

Elrond technology and ecosystem

Elrond is a new blockchain architecture that serves the metaverse. Its design aims to improve throughput and speed of implementation. Elrond introduced two important innovations: Adaptive State Sharding and PoS. It’s a new state-sharing mechanism and a secure proof-of-stake algorithm, respectively. They allow linear scalability with a fast, secure, and efficient consensus mechanism. Thus, Elrond is able to process more than 10,000 transactions per second (TPS). The wait time is only 5 seconds with unmatched cost. Elrond wants to be the backbone of a borderless, unrestricted, anywhere accessible internet economy.

Conclusion

Cryptocurrency is not immune to the technological evolution that has contributed to the creation of a new metaverse economy. Elrond Research, a strategic innovation lab on the Elrond Network knows this. Its mission is to identify and promote projects aimed at using blockchain technology on the scale of the Internet. Through research and support from their architects, Elrond’s technology and ecosystem will use data avatars.

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Emile Stantina

“Stan-” Chancellor on the verge of second bailout for banks “The lone man thinks alone and creates new values ​​for the community”

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