Cryptocurrency is building the Metaverse economy

All different industries, including cryptocurrency, have gone through digitization. Data has become an important driver of business growth and the economy in general. They are generated at an exponential rate. Education, work and entertainment transit into the metaverse. This trend is based on effective and creative use of data. Exploring them provides great opportunity and better experiences.

Building a new data-driven metaverse economy

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

It is the blockchain technology that makes this new form of digital ownership possible in the metaverse. This way, everyone truly owns their data. It can extract a very important value from it. It can even create a recurring revenue stream. In fact, data about companies and consumers will be merged. They will find themselves in the circle of virtuous exchange. This helps drive growth and personal experiences. In addition, both groups will enjoy significant benefits.

The transition from Web2 to Web3 is straightforward. The goal is to create an attractive and wonderful environment. Adventure, exploration and curiosity are challenged to reach unique and relevant levels. The Internet experience will be in a personal and visual form. For all this to become real, data avatars are an important and inescapable component. The role of Itheum is to build it.

This technology will enable the next wave of value creation. Owning a stake is ultimately an opportunity to fully seize it.

Elrond Technology and Ecosystem

Elrond is a new blockchain architecture serving the metaverse. Its design aims to improve productivity and speed of execution. Elrond introduced two important innovations: Adaptive State Sharding and PoS. This is an innovative state-sharing mechanism and a secure Proof of Stake algorithm, respectively. It enables linear scalability using a fast, secure and efficient consensus mechanism. Therefore, Elrond was able to process more than 10,000 transactions per second (TPS). Waiting time only 5 seconds at an unbeatable cost. Elrond wants to become the backbone of the Internet economy that is borderless, unauthorized and accessible everywhere.

Conclusion

Cryptocurrencies are not immune to the technological development that contributes to the creation of a new economy for metaverses. Elrond Research, the Elrond Network’s strategic innovation lab, understands this. Its mission is to identify and promote projects aimed at using blockchain technology on an Internet scale. With research and support from architects, Elrond’s technology and ecosystem will leverage data avatars.

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Emile Stantina

Stan – ‘Chancellor on the brink of second bank rescue’ ‘The lonely man thinks alone and creates new values ​​for society’

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