What is the metaverse? Why the metaverse public blockchain Caduceus with unlimited potential?
In 2021, with the hot concept of the metaverse, more and more people know and start to pay attention to this concept. The short video contents of TikTok also begin to frequently appear metaverse terms and elements such as identity, social, low latency, diversity, anytime, anywhere, economic system and civilization. Now there is a big kind of network, meta-universe you don’t even know? Do you still have the nerve to talk about the development of the world and the direction of human existence?
Of course, if some people still don’t know what metaverse is, let’s popularize it first. MetaVerse comes from the word MetaVerse, which means beyond the universe. The word MetaVerse first came from the science fiction novel “Snow Crash”, which describes a world where people interact with various software in a three-dimensional space with virtual images. People use digital virtual identities to compete with each other improve their status. It seems that the novel describes the scene as still ahead of its time in the future world. Others have explained the metaverse in a descending way — “a virtual world parallels to the real world and highly interoperable”, with a fully functioning economy, in which data, digital goods, content, and IP can pass, and in which individual users, institutions, and companies can Individual users, organizations, and companies can create content and goods to ensure that the metaverse can continue to grow.
The six supporting technologies of the metaverse include blockchain technology, interactive technology, video game technology, artificial intelligence technology, network and computing technology and IoT technical, so it can be seen that digital technology is the primary means and support for the metaverse to establish a virtual space. At present, metaverse, which is in the very early stage of technology implementation, faces the embarrassing situation of polarized reputation. Supporters firmly believe that metaverse is the general trend of human technological development, and everything can be metaverse. In contrast, opponents believe that metaverse is full of speculation and bubbles, and most of the metaverse projects and products on the market are worthless.
In the process of human society, the commodity society is the most important and fastest progressing. From offline transactions in places to online transactions on the internet and even virtual transactions in the future, digital changes are gradually unstoppable. Imagine buying and selling a house, a car. How long does it take in the real world? A week or half a month? But in the metaverse, it may take less than a minute. Of course, the metaverse is still in the early stage of industry development, whether it is the underlying technology or the application scenario, there is still a big gap compared with the mature form in the future, and it will take an extremely long process to subvert the change from physical possession to virtual acquisition completely. However, this also means that there is enormous space for the expansion of metaverse-related industries.
In the crypto field, innovation and quality tracks mean low value. The concept of the metaverse and the demand for technology is highly compatible with the crypto field. Blockchain giants with multiple advantages want to hold the market. In contrast, crypto startups want to get a chance to bend and overtake the market, so they have come down to layout and even added to the metaverse track, and metaverse-type projects are springing up. According to the data previously released by Coingecko, the total market value of blockchain’s meta-universe section has now exceeded $2.139 billion, among which most projects choose to rely on ethereum development. But ethereum is perfect enough for the meta-universe?
The current status of the ethereum ecology is not perfect. With the rise of decentralized financial DeFi, NFT and chain tour, the block size limit, high gas fee, slow confirmation speed, and network bandwidth on ethereum are no longer enough to support the development of some projects. Not only that, the Ethernet network can no longer even host a decentralized application that can respond to a large number of user data requests on the chain quickly. On the other hand, the Layer 2 solution (Lauer 2) has not been the solution to the inefficient execution of Ether contracts. Just like the early internet that had no choice but to use terminals and text-based tools, today, blockchain has become a niche presence because of the lack of infrastructure that prevents many applications from being used by large-scale users. It is not realistic to pin all hopes on Ether and hope it can carry the meta-universe track on its own. At present, it seems that the wisest choice for the meta-universe way should be to gradually “escape” from Ether.
At this stage, other public chains have already proposed new structures and ideas to solve the blockchain’s usage problems and performance bottlenecks. As a new generation of distributed open-source blockchain platforms, it adopts the HashGraph consensus algorithm and has super high transaction processing speed, security, and maximum parallelism of transaction processing, with the peak transaction speed of a single chain reaching 100.000 transactions per second. It also implements EVM-compatible virtual machines and supports Solidity smart contracts and various development tools on EtherChip; it also has the functions of sub-account and sub-account authority management, GPU acceleration and voting dividends.
In addition to the underlying blockchain technology, Caduceus also has built-in game ecology, network arithmetic and virtual presentation boards, respectively, from value interaction, content bearing, data network transmission and immersion, to build a meta-universe through presentation fusion.
First of all, Caduceus technically provides a decentralized settlement platform and value transfer mechanism that can guarantee the value flow of the metaverse, protect the attribution of digital assets and guarantee the stability, efficiency and transparency of the economic system. The decentralized virtual assets can be transferred across platforms and away from the content itself, realizing the “decontextualization”.
Technology provides interaction methods for the metaverse, and UHD and AR/VR devices have achieved continuous iterative upgrades. Caduceus has also laid out the development and production of virtual appliances to ensure that its chain users can have a better experience in the metaverse in the future.
As the moment of metaverse development in 2021, many people still can’t imagine the value of metaverse or question its concept because it is too early. However, in the future of the digital world, the metaverse is a future worth exploring, and the emergence of Caduceus may further lay a solid foundation for the rapid development of metaverse.
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