What Is the Metaverse, Exactly?

A metaverse could mean anything from a video game to a chat room to a VR world. Some people think that the metaverse will be a virtual reality world where everything is connected. Others think it’ll be something else entirely. There is no consensus on what the metaverse actually looks like. To many, the metaverse is essentially a 3D version of our current internet.

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The metaverse is a concept that many believe will eventually take shape. Experts don’t know how the metaverse will manifest itself. It might never happen. An example of a metaverse might look like Second Life or Minecraft where users can create their own real estate, own virtual items, and communicate via social networks and digital currency. Many believe a public blockchain would record all transactions made within the metaverse, making them immutable forever.

Implementations

Virtual Reality (VR), augmented reality (AR), and mixed reality (MR) are all examples of metaverse technologies. Social media companies like Facebook, Twitter, and YouTube are implementing metaverse technology into their platforms. Metaverse technology will improve our lives through better communication, education, and entertainment.

Technology

Hardware is the foundation of the metaverse. The future of the metaverse will depend heavily on hardware innovation. There are many limitations to current hardware. For instance, Virtual Reality is still very expensive and needs better quality graphics.

Distributed computing is also a fundamental shift in how computers work. Distributed computing networks like the Internet are built on protocols that enable computers to connect and share resources over large distances. A blockchain is a decentralized database that stores records in a secure, tamperproof manner. Metaverse will function within these forms or new forms of distributed networking.

Software

There is no unified technical specification for metaverse implementation. Existing implementations rely mainly on proprietary technologies. For example, Second Life uses its own proprietary software called Linden Lab’s LSL. Second Life also has a proprietary virtual currency called Linden Dollars.

Universal scene description is a common standard for VR/AR applications. It allows developers to create content once and have it run across multiple devices. Universal Scene Description was developed by the OpenSceneGraph project.

Microsoft’s mesh is another way to connect people who are physically located apart from each other. Microsoft says its mesh will allow people to collaborate virtually without having to leave their desks or offices. Mesh will allow people to share holograms and see each other in person.

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Blockchain interoperability

Blockchains are distributed ledgers that store data using cryptography. They can be used to track ownership of digital assets such as money, property, and intellectual property. There are public blockchains and private blockchains. A public blockchain is open to anyone who wants to use it. Private blockchains are only accessible to those with permission. Permissioned blockchains will likely be used in metaverses as building blocks for digital business.

The Bitcoin Blockchain is an example of a public blockchain. Ethereum is another public blockchain that offers smart contracts. Smart contracts do not replace legal contracts and cannot prevent bad actors from attempting to hack your digital assets. Several organizations are working together to create standards for blockchain interoperability with metaverses to prevent security threats and bad actors.

Pros and Cons of Blockchain and Metaverse

A smart contract is a computer program that executes automatically once certain conditions are met. Bitcoin is an open source software protocol that enables peer-to-peer electronic cash payments. Blockchain is the present and the future of digital currency and smart contracts. More people are realizing how the blockchain can benefit their digital business. There are still many ways to implement blockchain technology within a metaverse context without submitting to a central authority. Many Bitcoin and Ethereum projects and blockchain games are sprouting up to offer decentralized blockchain ecosystems to their users.

Criticism and Concerns of Metaverses

In December 2021, Raja Koduri said that we need 1,000 times more processing power to achieve true persistence and immersion. Virtual reality is still far away from becoming a reality. We need to improve our computer systems before we can fully enjoy virtual reality. In February 2022, Lauren Jackson wrote an article about the challenges facing virtual reality. She argues that VR needs better infrastructure before it becomes feasible.

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Privacy

Users should be aware of what type of data is collected and how it’s shared. Companies like Oculus Rift and HTC Vive are collecting biometrics data about users. People should know how much control they have over their own data and who owns it. Many people think that blockchains are completely private. They aren’t. Private transactions are just another way to store data.

User safety

Virtual worlds and the metaverse may be used as escape routes from reality. Social media and gaming addictions are real health risks. There is growing evidence that people who spend too much time online are prone to developing psychological problems.

Virtual crime is one of the biggest concerns with online gaming and social media. It’s a topic that has been discussed for years, but it seems like there is always a new threat actor or exploit with every new development, so testing and updating security protocols is a necessity.

Social issues

In an article published by The Guardian, they claimed that “online games are fueling a new wave of violent extremism.” This claim was based on research conducted by Dr. David Reiffel, a professor at the University of Maryland. He found that young men who play video games were more likely to commit acts of violence than non-gamers.

Dr. Reiffel also stated that there is no direct link between playing video games and committing acts of terrorism. However, he did say that some gamers might be attracted to extremist ideologies because of the game content itself.

This isn’t the first time that researchers have made claims about the connection between video games and violence. In fact, there have been several studies done on this topic over the past few decades. Some of these studies have shown that violent video games do increase aggression among players. Other studies have suggested that violent video games don’t lead to increased aggression.

Regardless of whether or not you agree with Dr. Reiffel’s findings, it’s important to remember that his study only looked at a small sample size. It would be irresponsible to draw any conclusions about the relationship between video game addiction and violent behavior based on such a limited number of participants.

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So, Metaverse is not just a video game?

Virtual Reality games like Minecraft and Second Life allow people to explore new worlds. A lot of companies are working on building the Metaverse. Some of them include Microsoft, Facebook, and Sony. In the future, we might all be able to live out our fantasies in a digital version of our own private island.

Microsoft’s vision for the metaverse includes multiple, distinct metaverse platforms. There are lots of different ways to play online. Some are social experiences while others are purely virtual. In this case, there’s a lot of overlap between the two and it’s hard to tell which is better.

So, how do I access the metaverse for now?

There are two ways to enter the metaverse: via phone apps or desktop browsers. Many companies are creating new ways to enter the metaverse without having to buy a fancy headset. Virtual Reality is still in its infancy, but it is growing quickly. Virtual Reality headsets allow us to enter another dimension of metaverse experience, but is not the only way to experience it.

So, will I be living in the metaverse some years from now?

The metaverse is an online world where everything is possible. Experts predict that the metaverse will be accessible to everyone by 2030. People don’t necessarily want to leave their homes to go to a virtual world. Interoperability with real life is key to making the metaverse a success. The metaverse is still very much in its infancy.

Related Topics

  • blockchain games
  • decentralized blockchain
  • blockchain projects
  • permissioned blockchain
  • Bitcoin and Ethereum
  • Virtual reality
  • mixed reality
  • innovation of gaming technologies
  • online gaming
  • smart contracts
  • Digital Business
  • digital currency
  • virtual currency
  • digital assets
  • virtual items

External Links

Pages that search results are linking to (excluding internal links):

theverge.com

en.wikipedia.org

nytimes.com

cnbc.com

bloomberg.com

youtube.com

matthewball.vc

investopedia.com

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