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Decentralized Metaverses: Is That What Web 3.0 Really Is?

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Web 1.0 came and went, followed by Web 2.0. Now, Web 3.0 is beckoning on the horizon.

The rapid development of the internet and the popularization of accessible mobile devices were the engines of the transition from Web 1.0 to Web 2.0.

However, blockchain technologies are now ramming their way into the online environment. This is ushering in Web 3.0, and offering users entirely new verses – metaverses.

The trends are making it clear the metaverses that are the future of the digital world. They embody online social life as commonly shared virtual spaces based on the digital reproduction of our physical universe.

Any number of possibilities flesh them out, from playing out fantasies, real-life scenarios, and roles from denizen to demigod. 

Metaverses give a sense of presence in real-time by mimicking the mechanisms of social interaction. These are between their denizens through conversations, walks with friends, virtual festivals, fashion shows, exhibitions, and much more.

This unique environment existing in parallel with the real world cannot but foster the development of a new economy. This NFT economy is briskly striking roots and integrating with its traditional counterpart.

In another verse

Metaverses are the next stage of the evolution of the internet. Web 1.0 was simple and boring, fulfilling but a commercial function by showcasing contact details to other featureless contacts.

The usefulness of outdated Web 1.0 sites was only slightly enhanced by adding forums, comment sections, and basic chats to offer rudimentary means of interaction.

Then Web 2.0 breathed new life into the internet. All the popular websites and social networks we know today emerged and flourished.

However, what we now cherish as a comfortable and rather cramped online environment falls short of even brushing the surface of the possibilities that Web 3.0 has to offer.

Social networks in Web 3.0 will not be endless feeds of memes and posts but rather sprawling metaverses.

A relatively new term stemming from the world of cryptocurrencies – metaverses have existed for a while. They are best exemplified by the likes of Minecraft and Second Life.

However, the latter two are manifestations of Web 2.0. Meanwhile, Web 3.0 will unleash the true potential of metaverses thanks to the development of blockchain technologies and their add-ons.

Moving off-center

Blockchain technologies bring real value and proven ownership to these brave new online worlds. There are existing options for the practical application of metaverses built using blockchain technologies that gained sufficient popularity.

More than that, they are attracting real monetary flows. In April of 2021, a plot of land on the Decentraland platform sold for $572,000. Another sold for $283,567 earlier in March.

In the same month, a digital property worth $500,000 was purchased in another metaverse – the Somnium Space (CUBEs) platform.

Seeing such figures, one might ask how long such a trend of wild spending on non-existent assets will last.

The answer lies in the continued and vigorous development of more metaverses. These will test the concept of migrating living, breathing communities into decentralized environments.

They will forge and perfect the integration, interactions, and convenience of adapting to the online world with its offline reflection.

Testing The Hypothesis

Recently, a slew of industry leaders such as Animoca Brands, known for its games CryptoKitties, The Sandbox, F1 Delta Time, and others, supported a new project called Bit.Country.

The project claims to test such integration in practice. It did so by transferring 152 internet users with different technical skills to a decentralized 3D metaverse.

The experiment aims to see how the interaction between hundreds of people occurs in such a model.

To accelerate user engagement in the metaverse, the project developers introduced social activities. These included virtual walks, chats, events, video meetings, and much more.

The experiment revealed that receiving ownership through contribution among a community made up of people with varying tech-savviness and blockchain understanding is a viable pathway for onboarding classic internet users into a decentralized environment.

They suggested that the first generations of decentralized metaverses are likely to be dedicated largely to gaming experiences.

People need, crave, desire, and hunger for new experiences. It is pointless to deny that irritation is starting to set in among social network users, who are witnessing the continuous contraction of online freedom of speech, turning them into refugees from Facebook, Twitter, and their ilk.

Metaverses are turning into the embracing havens for such disenchanted users. It is indicative when so many companies are engaging in creating blockchain-based metaverses, for they go where the money is.

Blockchain technologies can indeed play a significant role in the transition to Web 3.0 in the near future and act as the starting point of its ascent. Perhaps, the metaverses under development today will become the social networks of tomorrow.

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All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Julia is a researcher and journalist who covers the latest trends in finance and technology. Her works are featured by popular fintech magazines, including Investing, SeekingAlpha, Cointelegraph and Bitcoinist.

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Source: https://beincrypto.com/decentralized-metaverses-is-that-what-web-3-0-really-is/

Blockchain

Bitcoin Should Be In Every Portfolio, Says Mexico’s Third Richest Man

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The arrival of the death cross does not seem to scare Michael Saylor, who bought $500 million just when this terrifying pattern was forming. But Michael Saylor is not the only one who thinks so. Ricardo Salinas Pliego, the third richest man in Mexico, also believes that Bitcoin is an excellent investment.

During an interview with the director of Blockchain Land, José Rodríguez, Ricardo Salinas Pliego assured that Bitcoin is as solid an investment as gold. He explained that the debate about its nature is not so crucial for those who know its properties.

In my opinion, all the advantages that bitcoin has are enough to make the gold of the modern world … There is no point in discussing whether it is a currency or not.

There Will Be Only 21 Million Bitcoins, And That Is Key to Everything

Ricardo Salinas argues that the fact that Bitcoin is finite, easy to transport, and enjoys extreme liquidity internationally are compelling reasons to consider it as an asset worth taking into account when building an investment portfolio.

In fact, Salinas explains that from his point of view, every investor should own Bitcoin:

Bitcoin is an asset that has international value, which is traded with enormous liquidity worldwide. For that reason, it should be in any portfolio.

Ricardo Salinas is a vocal Bitcoiner. He was one of the first prominent Latin American businessmen to talk about Bitcoin and support it in social networks. He also revealed that 10% of his liquid investment portfolio was held in Bitcoin, which is obviously no small thing considering his fortune.


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But What About Altcoins?

But for now, it seems that Salinas’ relationship with Bitcoin admits no competition. When asked about the potential of Ethereum and other altcoins, Salinas was unconvinced that they can outperform Bitcoin.

Regarding Ethereum, he explained that its weakness lies in its inflationary nature.

The scarcity of Bitcoin, the 21 million, is the key to everything. That is why I mention Ethereum. Because as long as it does not have a finite amount of issuance, I will not believe them because they can issue more, and the asset depreciates.

The issue of the inflationary design of some currencies is of special importance to Ricardo Salinas. Latin American governments have abused the power to artificially issue money, which has damaged the purchasing power of the people in the long run.

Look, I started my professional career in 1981. Back then, the [Mexican] peso was 20 to 1 [dollar]. Today, on the other hand, we are at 20,000 to the dollar. And that’s here, in Mexico, but if we do it in Venezuela, Argentina or Zimbabwe, the figures lose all proportion.

As Bitcoin is a global and finite asset, it is safe from manipulation by any government, group of developers or centralizing power entities.

But there is always a little space for other projects. He said that Monero and Zcash are interesting because of the privacy that they offer.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/bitcoin-should-be-in-every-portfolio-says-mexico-third-richest-man/

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Ripple price flashes remarkable buy signals as technicals improve from the dip to $0.57

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  • Ripple price begins recovery after diving to $0.57.
  • The TD Sequential indicator presents a massive buy signal as buyers take their positions.
  • XRP aims at closing the day above $0.78 to set the precedence for the trajectory to $1.

Ripple slipped below May’s crucial support at $0.65 to trade a two-month low of $0.57. The selloff affected most crypto assets, starting with Bitcoin’s drop to $30,000.

When writing, the international money transfer token teeters at $0.62 amid a gradually building bullish momentum. Perhaps a daily close above $0.7 will call more buyers into the market upon Ripple regaining market stability.

How formidable are Ripple’s buy signals?

The TD Sequential indicator has recently flashed a buy signal on the 12-hour chart. This is a chart overlay tool that measures the volatility of an asset while tracking its trend. A buy signal forms in a red nine candlestick and implies that buyers get stronger as the bearish force fades.

On the other hand, a sell signal presents in a green nine candlestick, implying that selling pressure is about to balloon while bulls lose their grip. With a buy signal intact within the overall technical picture, massive gains are anticipated.

XRP/USD four-hour chart

XRP/USD price chart
XRP/USD price chart by Tradingview

The growing uptrend is reinforced by the Relative Strength Index (RSI), gaining momentum after leaving the oversold region. Action toward the midline will cement the growing bullish grip.

Subsequently, traders should watch for movements in the MACD. If the MACD line crosses above the signal line, the buy signal will be validated. Holding above the short-term support at $0.6 is crucial to sustaining the uptrend, while closing the day above $0.7 may bolster Ripple significantly upward.

Ripple intraday levels

Spot rate: $0.63

Trend: Bullish

Volatility: Growing

Resistance: $0.7

Support: $0.6 and $0.57

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

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Source: https://coingape.com/ripple-price-flashed-remarkable-buy-signals-as-technical-improve-from-the-dip-to-0-57/

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Blockchain

TA: Bitcoin Eyes Recovery, Here’s Why BTC Could Struggle Near $35K

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Bitcoin price extended its decline and tested the $31,500 zone against the US Dollar. BTC is now recovering losses, but it is likely to face sellers near $34,000 and $35,000.

  • Bitcoin remained in a bearish zone and it even broke the $32,000 support zone.
  • The price is now trading well below $35,000 and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $35,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is likely to correct higher, but the bears could prevent gains above $35,000 in the near term.

Bitcoin Price Could Recover Losses

Bitcoin struggled to stay above the $33,000 zone and it extended its decline. BTC broke the $32,500 and $32,000 support levels to move further into a bearish zone.

The price even spiked below the $31,500 level and settled well below the 100 hourly simple moving average. It traded as low as $31,310 and it recently started an upside correction. Bitcoin is now back above the $32,000 and $32,500 resistance levels.

There was also a break above the 23.6% Fib retracement level of the recent drop from the $36,170 swing high to $31,310 low. An initial resistance on the upside is near the $33,800 level (the recent breakdown zone).

The 50% Fib retracement level of the recent drop from the $36,170 swing high to $31,310 low is also near $33,800. The main resistance is now forming near the $35,000 level and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $35,100 on the hourly chart of the BTC/USD pair.

Bitcoin Price

Source: BTCUSD on TradingView.com

Therefore, bitcoin bulls are likely to face a major resistance near the $35,000 zone and the 100 hourly SMA. The next major resistance on the upside sits at $36,200.

More Losses in BTC?

If bitcoin fails to clear the $33,800 resistance or the trend line resistance, it could continue to move down. An immediate support on the downside is near the $32,000 level.

The next major support is near the $31,500 level. A downside break below $31,500 could open the doors for more losses. In the stated case, the price might even test $30,000.

Technical indicators:

Hourly MACD – The MACD is slowly moving into the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is struggling to clear the 50 level.

Major Support Levels – $32,000, followed by $31,500.

Major Resistance Levels – $33,800, $34,000 and $35,000.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/analysis/btc/bitcoin-btc-eyes-recovery-35k/

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