We will talk you through what to expect with both Centralized and Decentralized platforms.
In this article, we will talk you through what to expect with both centralized and decentralized platforms.
We will look at the concepts of decentralization and centralization as they relate to current industries and blockchain. This groundbreaking blockchain technology helps to solve privacy and data security issues that the centralized metaverse would be plagued by inevitability.
Already, a number of decentralized metaverse projects are using blockchain technology to provide custom experiences for users that are censorship-resistant and interoperable among themselves. This includes projects such as Decentraland and Bloktopia, which are already providing a first look at what a Metaverse can look like with their sophisticated, user-controlled economies, virtual properties, and digital experiences built on top of virtual reality.
With blockchain-based digital identity solutions to provide true permanent digital avatars, as well as digital assets to enable location-independent access to services and products, the Metaverse looks poised to inherit the values that the blockchain industry was founded upon — namely, permissionless access, censorship resistance, security, and decentralization of the blockchain sector.
The Metaverse can be thought of as a new layer of the Internet experience, with Web3 providing decentralized technologies and protocols used to create the metaverses backend, and enable new ecosystems, communities, and economies to evolve.
Additionally, the very nature of decentralized Web3-based metaverse platforms means the medium is persistent and sustainable, being much more immune to disruptions compared to centralized systems.
In sharp contrast, we have the decentralized Metaverse, where platforms are open-source, and users are free to almost completely control their experience. The Metaverse, in contrast, is a shared digital reality, where users can communicate with one another, create economies, and interact in real time and the Metaverse does not care who owns it. While it is not an absolute necessity that the Internet is decentralized in order for a metaverse to be a reality, it is philosophically inconvenient to have a metaverse that is only based on the centralized Internet, in which you cannot own digital assets (e.g., digital art, land, movies) as free and clear as we can in the real world; a platform provider could just turn off servers today, or forbid users to use a platform.
In a decentralized blockchain metaverse, the decision-making authority does not reside in the central organization, it lies in the users. Decentralized blockchain metaverses are special because they generate community dynamics, in which the power balance is reversed. Centralized blockchain metaverses are typically built around a system called The DAO (Decentralized Autonomous Organization).
Perhaps the best-known representation of the metaverse is Decentraland, a completely decentralized world on the Ethereum Blockchain controlled by the Decentralized Autonomous Organization (DAO) made up of individual players, who are allowed to vote on policies determining the behaviour of Decentraland.
Decentralized Metaverses such as Decentraland and The Sandbox are built to allow communities of users to create, iterate, and govern themselves. There is also the need to get comfortable with cloud-oriented storage and blockchain, which will be used by many metaverse environments to support payments and decentralized financial capabilities, and for NFTs to enable the transferability and traceability of virtual assets and objects.
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Categories: Blockchain, Crypto, Metaverse, NFT, Web3