The meta-universe concept explodes and may become mainstream concept in the next few years
According to Cointelegraph, Grayscale recently published a report entitled “Meta Universe, Web 3.0 Virtual Cloud Economy”. The report emphasizes that the Metaverse platform integrated with encrypted tokens, decentralized financial (DeFi) services, NFT, decentralized governance, and decentralized cloud storage “creates a new online experience” and is rapidly attracting new users . According to the report, the data of “Global Active Metaspace Wallet” since the beginning of 2020 shows that as of June 2021, there are approximately 50,000 active users, an increase of 10 times. In addition, according to the report, the total fundraising of blockchain games in the third quarter was US$1 billion, accounting for 12% of the total fundraising of the entire cryptocurrency industry this quarter. It is estimated that in the next few years, the “market opportunity” that will introduce Metaverse to the mainstream may be worth more than US$1 trillion. The report stated, “Compared with other Web 3.0 and Web 2.0 fields, Metaverse users are still in the early stages, but if the current growth rate remains on the current trajectory, this emerging field may become mainstream in the next few years.
The term meta-universe was first invented by Neal Stephenson in his 1992 science fiction novel “Avalanche”. Recently, with the explosion of NFT (non-homogeneous token) in the blockchain, various well-known companies are competing. The phase layout has made “Meta Universe” seize the mainstream public’s vision with lightning speed and become one of the most popular concept this year.
The meta universe has long existed, but it is still in its early stage
In fact, the prototype of the meta-universe already exists in our lives. For example, people will interact on social software such as Telegram, hold work meetings on Zoom, and play Gamefi. People are no longer unfamiliar with this immersive virtual space that is accessed through the screen. With the continuous innovation of technology, people now have the ability to bring higher value, presence and performance to this virtual world.
The reason why the current meta-universe is still in its early stages is that there is currently no thing that can give a fully immersive experience. On the one hand, the major platforms are independent or even isolated from each other. The application scenarios are very limited and the user needs are not enough. To be fully satisfied; on the other hand, platforms often come from large centralized enterprises, and users’ behaviors have many restrictions.
In the most idealized way, the meta-universe is a virtual world parallel to the real world and a digital universe. The future meta-universe will connect all independent ecosystems and combine them to form a complete virtual environment. The key to this is to achieve interoperability between each ecosystem, and ultimately achieve greater synergy. At that time, an open world will be created in which everyone can live in harmony in a shared virtual network, instead of being an isolated ecosystem like now. The network is due to software and hardware incompatibility.
Only in this way can we create a virtual world that is truly parallel to the real world. you can own assets, your own unique avatar, and explore freely in the virtual world, just like your experience in the real world. At present, people have used blockchain technology and decentralized oracles to realize a broader interconnected meta-universe system, in which there are applications, experiences and digital assets.
Blockchain and oracles may be important promoters of the development of the meta universe
Blockchain has more advantages than traditional networks in terms of composability and transparency. On the blockchain, game projects, DeFi protocols, and NFT art collections are all connected by the underlying infrastructure, so value can be transferred seamlessly and iterated quickly based on mature economic models. This can meet the needs of Metaverse to improve interoperability between networks and guarantee the ownership of virtual assets.
Although the blockchain can achieve stronger connectivity than the current “meta universe”, it cannot solve the problem that its own ecosystem cannot be connected to the outside world. The blockchain itself is a safe but isolated environment, so an oracle is needed to fill this gap.
A decentralized oracle network such as ADAMoracle allows the blockchain and smart contracts on the chain to safely interact with data and services in the real world. Blockchains can communicate with each other and interact with traditional systems though ADAMoracle, bringing transparency, security and efficiency to the meta-universe.
ADAMoracle is compatible with all blockchains, providing a common framework for leading blockchains in the industry to access off-chain data and develop decentralized off-chain computing. These services are essential for the interoperability of the blockchain and Metaverse. The specific functions include:
In the meta-universe economy, users will exchange their own value with each other, and can also obtain various financial tools such as loans and insurance. ADAMoracle allows blockchain projects to access safe and stable price feed data, allowing the entire meta-universe economy to achieve a virtuous circle. ADAMoracle can transmit key results and confirm on the underlying blockchain, such as sending the user’s meta-universe items and rewards in the game to another block.
ADAMoracle provides a random number generator with verifiable fairness and trust minimization for Metaverse applications, which can be used for playing and earning games, lottery and reward distribution, etc. ADAMoracle allows blockchain projects to automatically deploy key services and establish a truly automated process between all centralized and decentralized systems.
If the meta-universe looks a lot like the world we live in today, then the enterprise and the centralized meta-universe environment are cities, the blockchain is each country, and ADAMoracle is the safe, reliable and decentralized connection between these cities and National infrastructure.
For example, suppose that in the future meta-universe, most players need to use Meta’s VR headsets and Microsoft’s HoloLens to enter the meta-universe; and the blockchain provides players with the underlying decentralized architecture to protect users’ Asset ownership and unify the gaming experience in the virtual world. And ADAMoracle can safely connect these three technologies to ensure that the value and data can be transferred in a way that minimizes trust between IoT devices, blockchain and centralized meta-universe applications. Whether it is real-world data such as sports game results or events in the meta-universe, ADAMoracle can connect the real world and the virtual world by minimizing credit, and create an immersive meta-universe experience for users.
With the continuous development of Metaverse, ADAMoracle will provide all off-chain entities and blockchains with trust-minimized connectivity, and will further enhance the interoperability and integration of Metaverse, which is compatible with all Metaverse related platforms and realities.