It seems like 2022 is the year of the Metaverse, no matter where you look, from Facebook changing its name to Meta to Microsoft promising the next generation of Ready Player One-like consoles.
Almost everyone wants to jump on this virtual reality bandwagon, and there are good reasons. It’s not every day you can find a place that combines several things under its umbrella, from gaming, finance, and social media to political entities and out-of-this-world experiences.
However, a grand vision of this magnitude requires a great deal of computing power to support such a colossal leviathan.
Until recently, many believed that Ethereum (ETH), an open source decentralized blockchain with smart contract functionality, would be the titan that would take the central role in the further development of the Metaverse.
But as always with cryptocurrencies, other mechanical beasts are ready to attack you from the dark and steal your crown. MetaCryp (MTCR) it is a new crypto project and it is already making headlines as savvy traders expect it to become a market leading blockchain.
Consider trusting Ethereum (ETH)
In the original concept of the Metaverse, anyone can seamlessly transfer data and value across many platforms securely, transparently, and with maximum speed.
While much of this vision is already built into platforms like Ethereum, which enable financial transactions and other forms of code experimentation, as well as the development of DApps (decentralized applications), there is a trap lurking in the deepest corners of the blockchain networks.
At the moment, Ethereum cannot scale to meet the growing Met-aversion demands (even in its hibernation state).
This process is even more complicated because almost 80% of all NFTs are based on the Ethereum blockchain, and almost 70% of all DeFi DApps, in one way or another, are also connected to Ethereum (ETH). ).
Therefore, all the factors mentioned above cause network congestion, which leads to slow transaction speeds and notoriously high gas fees. Yes, with the long-awaited upgrade of Ethereum “The Merge” from proof-of-work (PoW) to proof-of-stake (PoS), the issue of speed and cost will be solved. However, it will take years, maybe even decades, for “The Merge” to reach its full potential.
What benefits can you get with Binance Smart Chain (BSC)
In early April 2020, the world’s largest exchange Binance introduced Binance Smart Chain (BSC) to enable the development of DApps with higher capacity, faster speeds and lower latency than Ethereum.
While Ethereum currently uses PoW and is in the process of transitioning to (PoS), BSC has decided to use (PoS), or rather a slightly modified version called Staked Proof of Authority (PoSA).
This means that, unlike many other chains, the transaction fees validators receive come from the existing supply of (BNB), not newly minted BNB.
This makes BNB deflationary, and the Binance team regularly burns some of its supply.
According to Binance, the burns will continue from the initial maximum supply of 200 million until (BNB) provides 100 million. However, even after the arrival of “The Merge”, BSC would continue to be a faster and cheaper alternative.
Why MetaCryp (MTCR) is taking the cryptosphere by storm
MetaCryp is an upcoming project that plans to combine Metaverse, NFT, and Play-to-Earn (P2E) games into a single ecosystem. The range of services it intends to use is truly impressive, given that it will stem from different P2E game modes, where players can buy, sell and trade their in-game items represented as NFTs, to almost surreal immersive experiences.
On top of that, players could build their own “bubbles” within the larger Metaverse, where people can meet based on their interests and political views and even rent, sell, and trade land, similar to the Sandbox game. but with more options for passive income.
The core idea of the MetaCryp network is to encourage players to compete for the token (MTCR), game assets or NFTs to form a big bank.
This, in turn, causes the MetaCryp Network game to be structured around different in-game activities, causing the accumulation of tokens (MTCR), which is also a central medium of exchange in the metaverse. This means that the more tokens (MTCR) you have, the better integrated you are in the ecosystem.
Ethereum (ETH) is undoubtedly a titan that is going nowhere. However, with its current limitations (speed and transaction costs), it makes more sense to use alternative blockchains like MetaCryp (MTCR) to build the future of the Metaverse, at least for now.
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