What is Metaverse [How it will be like in Metaverse]

Metaverse is one of the major trends in virtual reality and augmented reality. The term was first used in a science-fiction novel named Snow Crash by Neal Stephenson. In his book, Stephenson defines the metaverse as “a consensual hallucination experienced daily by billions of legitimate operators, in every nation, by children being taught mathematical concepts… A graphical world (that) exists entirely within computer networks…”

Since then, the term has been used to describe a future virtual reality that is “defined with respect to general-purpose computing”. Metaverse will be a virtual world that is built to be accessible through multiple user interfaces and devices. A person can use a tablet, or a phone, or a headset to access the same metaverse.

Metaverse could be a social space where you can meet your friends and have fun. It could be a virtual office where you can work remotely. Or it could be a virtual classroom where you can learn something new. Metaverse would allow you to travel to different places at the click of a button and enjoy the experience of being there.

Metaverse has been one of the biggest VR trends in the past couple of years and it is expected to continue to grow rapidly in the coming years. We’re going to see more companies creating VR applications that will enable people to access a shared virtual world in which they can meet each other and do things together.

In this article, we'll explain what the metaverse is, and what it will be like in the metaverse.

What is Metaverse?

Metaverse is a decentralized platform based on blockchain technology or you can say web3 technology that focuses on digital assets and identity. The team aims to build an ecosystem of blockchain-based services by establishing an open-source protocol. To achieve this goal, Metaverse wants to digitize assets, make identity more credible and expand the potential of blockchain technology.

One of the most important features of Metaverse is its Digital Identity (Avatar) service, which lets users verify their identity on the blockchain in a secure and transparent manner. In addition, the digital identities created on the Metaverse platform can be used in asset trading.

Another interesting feature of the platform is token investment and fundraising. The smart contract system built into Metaverse allows users to issue their own tokens, which can then be traded in a decentralized manner on the blockchain.

The platform also supports digital assets such as customized tokens and certificates. This means that you can buy, sell and transfer assets without interference from third-parties. There are no intermediaries involved when transferring assets between users – this process is carried out directly on the blockchain.

Metaverse aims to become an open platform where people can freely create digital identities through the use of digital certificates issued by authorities that cooperate with metaverse, such as banks, telecom companies, education institutions, insurance companies, etc. These certificates can be used in place of traditional methods of ID confirmation such as bank accounts and government IDs. The certificate data is registered on the blockchain to protect privacy and prevent falsification. This will serve as the foundation for a new blockchain based identification system that is more efficient than current systems.

What will it be like in the Metaverse?

The Metaverse will be a new, shared, cyberspace reality. It will be a vast, consensual hallucination experienced daily by billions of human beings.

Until now, the Internet has been a debased version of the information age predicted by cyberpunk science fiction writers William Gibson and Bruce Sterling in their novels Neuromancer and Islands in the Net. In the Metaverse, the Information Highway will become a literal road, enabling people to travel through cyberspace as easily as they travel through physical space today.

The Metaverse will be like a global brain that transcends time and space. It will contain every experience that anyone has ever had: every book ever read, every movie seen, every Web page visited. It will allow people to explore the farthest reaches of outer space and the deepest trenches of the ocean floor. People will be able to meet with anyone else who is connected to the Metaverse from anywhere on Earth. Through telepresence and other virtual reality technologies, they'll be able to visit any place on Earth or any place imaginable. Best of all, they'll be able to do it as easily as they surf the Web today.

The Metaverse will allow people to project a different persona to different people at different times or even to different people simultaneously. They'll be able to watch movies, listen to music and play games with other people regardless of time or distance. They'll be able to attend live performances by their favorite musicians and actors via virtual reality technologies like telepresence. And they'll be able to interact with objects in cyberspace as naturally as they interact with physical objects in physical space today.

In the Metaverse, everyone will have wireless access to information, entertainment and each other from almost anywhere on Earth. It will be an ideal place for political speech, religious expression and artistic self-expression. There's no telling how much more creative we'll all become in such an environment--or how much more quickly we'll all learn from each other!

Conclusion

In the near future, Metaverse will provide a digital identity system and a basic level of underlying layer of payments. The digital identity system will be developed to support more complex applications and provide more features such as a digital passport and digital voting capabilities.

The current implementation of Metaverse has all the core components required for a live blockchain, including a digital asset registry, digital identity system and built-in governance systems.

Metaverse is working on becoming an autonomous public blockchain for financial services, in other words, Metaverse is working to become the next generation financial services blockchain.