Hello friends all still with me Ade prayoga. This time I will provide information about a very interesting project for you to know about in a new cryptocurrency called DNA. Before heading to the discussion, I think we all agree that blockchain technology still needs efforts that encourage adoption to continue to grow and continue to grow in the future.
Seeing Blockchain technology that is getting better, a lot of projects are intended to advance the digital world. Unfortunately, a large number of these projects are flawed in design and subsequently in their operations. With the internet as the main sequence, it's natural if we follow the trend.
So these projects are short-sighted because they fail to see the future of more than technology but are valuable with the internet. Because of this shortsightedness, they base their operations only on different technologies, forgetting the value obtained by using the internet.
It is a good thing that Metaverse is here, to create a new reality for the whole world.
WHAT IS METAVERSE?
Metaverse is a blockchain-based project that is far superior to ordinary Blockchain projects, both in design and operation. The Metaverse project is more focused on creating a foundation that is based on great values for various systems that want to adopt Blockchain technology.
Seeing that the world has become digital, Metaverse intends to help the general public transition to this new era by utilizing digital assets and digital identity as the main sequence in conducting transactions. In this way, various types of blockchain will be created, which gives more value to users, globally.
To achieve this, Metaverse is designed with BISC (Built-in Smart Contract) which is designed to provide digital assets called Metaverse Smart Tokens (MST), Digital Identity and even Oracle, as intermediaries for value-added operations.
What is blockchain scalability?
Scalability agrees on blockchain network restrictions in terms of processing transactions. Scalability must not only be limited to value transactions on the blockchain protocol, but can also carry out any transactions made on the network - such as between participants with decentralized applications.
Transaction speed, and requires the blockchain's ability to scale, is usually approved based on many transactions per second or TPS that can be accessed by the network. Most often, blockchain compilations succeed in high TPS, they make significant compromises in other critical areas - be it decentralized or security.
Many blockchain experts fail to 'trilemma scalability' or impossible trinity, the challenge of building a secure and scalable network without being centralized and no longer being a truly distributed network. This issue has become very important for the adoption of blockchain technology. Although in the current state blockchains they are safer and more reliable than traditional databases, their inability to increase transaction throughput has increased their reporting of company use.
What happens when the network can't scale?
As we saw earlier with Ethereum-based Crypto Kitties dapp, inadequate network scalability can have serious consequences for all transactions on the chain. Crypto Kitties paralyzed the Ethereum network at the end of 2017 when users made so many transactions that costs passed through the roof and transactions took hours to process. Cryptographic pets cause a sixfold increase in transactions on the Ethereum network and drive transaction costs, known as gas, to increase significantly.
Recently, news emerged in August that the Ethereum network had once again reached its upper limit, with transaction costs rising in such a way that some users might not be able to make transactions on the network. Speaking to the financial news website Bloomberg Vitalik Buterin, creator of the Ethereum protocol, explained how the USD reliable Tether was largely blamed for overloading the Ethereum network.
Buterin said that the Ethereum blockchain has been 'almost full for years', and in the future scalability should be a top priority for developers. Because Tether has exploded in popularity as a safe hedge against cryptocurrency daily volatility, scalability has suffered. Tether uses most of the Ethereum network, generating $ 260,000 in gas costs in just a 30 day period. Naturally, Tether is only one project built on Ethereum, and if there is an opportunity to attract new projects to the network, it must be able to handle hundreds or thousands of applications at once.
How does Metaverse achieve scalability?
There are other protocols that have emerged implementing new technologies to deal with the scalability problem described above. Many use lightning channels that are adapted to block themselves, make side chains, or use solutions like Segwit. However, some projects use more new solutions, such as running two parallel blockchain protocols side by side.
Metaverse achieves scalability while also maintaining security and decentralization through their Dualchain Network Architecture, or DNA protocol. DNA metaverse uses delegated peg evidence, or dPoS, to ensure block times are very fast while also providing fair and transparent ways for network participants to reach consensus. Likewise, using integrated lighting channels, transactions are almost instant.
By using two chains, Metaverse can enable fast transaction speeds at a low cost, and allow more data to be stored in a chain. The DNA protocol can be used on public and unlicensed blockchain, and thus can be used as a standard for other blockchain. From here, users can issue standard APIs and protocols that will allow data, assets, digital identities, and smart contracts to be used on-chain.
As one of the first protocols to use the Dualchain system, Metaverse seeks to alleviate problems related to scalability, while also providing cryptographic security guarantees and maintaining the decentralization of our network.
CONCLUSION
Metaverse is the beginning of a new era for the Blockchain industry and throughout the world. This eliminates imperfections that make Blockchain an inefficient technology and provides users with a system that is very useful, scalable, decentralized and safe, where operations are carried out at high speed. Metaverse brings the world into a new reality.
For more information about the DNA project see the link below:
Website: http://mvsdna.com/
Twitter: https://twitter.com/mvsdna
Facebook: https://www.facebook.com/MVSDNA
Medium: https://medium.com/metaverse-blockchain
Telegram: https://t.me/mvsdna
DNA White Paper: http://mvsdna.com/MVS%20Dualchain%20White%20Paper.pdf
Metaverse White Paper: http://mvsdna.com/Metaverse-Whitepaper.pdf
Twitter: https://twitter.com/mvsdna
Facebook: https://www.facebook.com/MVSDNA
Medium: https://medium.com/metaverse-blockchain
Telegram: https://t.me/mvsdna
DNA White Paper: http://mvsdna.com/MVS%20Dualchain%20White%20Paper.pdf
Metaverse White Paper: http://mvsdna.com/Metaverse-Whitepaper.pdf
Author of article:
| NAME | Darmanzds | |
| ETHEREUM WALLET | 0x5D3a65A9A184d6f83aA5fd791D33903e788EeC79 | |
| BITCOINTALK PROFILE | https://bitcointalk.org/index.php?action=profile;u=2715549 | |
| https://www.facebook.com/jarjitSingh | ||
| https://twitter.com/JarjitSingh | ||
| https://www.linkedin.com/in/JarjitSingh | ||
| YOUTUBE | https://www.youtube.com/watch?v=QiV_MYkjPW0 |
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