The best way to understand the metaverse is by looking at how people use VR today, and how their VR experience does not require expensive equipment and high-end computers for you to enjoy any kind of experience in a virtual reality environment.
However, recent developments have made it possible for anyone with an internet connection to access this virtual world through their phone or computer screen (as long as they have access).
Let’s face it: the crypto market is a mess. It’s full of scams, hard forks, and broken dreams.
The future is here, and it’s looking bright—so much so that some people call it the new internet. But where do you start? Where can you find this new world of blockchains that will change everything? For starters, get yourself familiar with these five metaverse cryptos:
1. Zilliqa – ZIL
Zilliqa is the first public blockchain platform that is designed for secure operations in an open, permissionless, distributed network.
It has a unique programming model that solves the problem of scalability by enabling parallel processing of transactions.
This is known as “network sharding” and allows the blockchain to process thousands of transactions a second. For context, Ethereum can only process 15 transactions a second, which makes Ziliqa one of the most interesting tokens around.
2. ICON – ICX
ICON is a blockchain technology that aims to hyper connect the world. The platform allows independent blockchains with different governance protocols to transact with one another without intermediaries.
By facilitating these connections, the creators of ICON hope to bring about a new era of cooperation and efficiency. As it is based on the Ethereum platform, ICON also allows users to create and access decentralized applications i.e., DApps.
ICON has its own cryptocurrency, which is known as the ICX coin, which is used for transactions on the network between participants. The project’s ICO took place in October 2017 and raised about USD 42 million; it had 400 million tokens available for sale at $0.11 each during the event.
3. Komodo – KMD
Komodo is a blockchain-as-a-service (BaaS) platform that allows developers to build their own solutions on top of the Komodo ecosystem.
The platform’s decentralized exchange is known as AtomicDEX, which allows users to trade cryptos without a counterparty risk, thus removing a significant element of danger for investors.
The Komodo platform has an innovative proof of stake consensus mechanism called delayed proof of work (dPoW). The platform protects users from double spending and improves overall security by doing so.
4. Siacoin – SC
Siacoin’s creators claim they’re looking to bring back the “latent power of the internet by enabling interactions between mutually-distrusting parties.”
It offers a blockchain-based solution that gives users access to a cheap and decentralized private cloud storage system. The platform allows users to rent out their hard drive space, which is then sold as storage space on the Sia network. Renters have complete control over who has access and what they do with it via smart contracts.
The platform’s native token is also known as Siacoin (SC), which is the medium of the transaction between the service provider and customers. SC is traded on a variety of reputable platforms, including Kraken and Binance, to name a few.
We’ve covered a lot of ground in this article, but hopefully, you now have a better understanding of what metaverse cryptos are and why they matter. If you have invested in more than one of these coins, you should consider finding one of the best wallet for multiple cryptocurrencies available.
We think investors must understand the technology behind the crypto market to make informed decisions about where their money goes.
Many exciting developments are happening in this space, but we believe these four projects represent the best opportunities for anyone looking to invest in the future of blockchain technology.