The blockchain part of the crypto ecosystem has always been an avenue for innovation and growth since crypto’s inception. Many projects run on various blockchains enabling specific businesses to transact with each other in a certain manner, protocol of you will. Recently, we have begun to notice the Chinese hi-tech firm called ViewFin, which recently launched a Blockchain Platform referred to as Metaverse. Just as Bitcoin Blockchain powers Bitcoin, Metaverse powers Entropy.
What Exactly Is Metaverse?
Just like Bitcoin, Entropy is a decentralized currency running on a blockchain. Metaverse deals with digital identities and smart assets running on the blockchain. The blockchain network enables incorporation of a ledger filled with universally unique accounts. These accounts are used as identifiers of individual details and initials during the smart contracting processes which are always automated through decentralized applications. Metaverse is optimized to allow people, organizations, institutions, and businesses to transact easily with each other. Metaverse on their website states that a security protocol called Oracle will be introduced into the Metaverse blockchain system for authentication of the transactions on the platform. Metaverse will be the Chinese version of Ethereum and will be seen as China’s dive into smart contracting.
Metaverse will run Entropy as its token. Entropy will be adapted to pay for goods and services. Hence Metaverse will be a store of value of smart assets, able to register assets, and keeps a record of the assets on the blockchain.
Reason To Use Metaverse
Major developments took place in smart contracting over the years. Metaverse introduced a unique system of solving problems in a better and easy way. Metaverse was designed to allow for future innovations that would be introduced to be easily added onto the platform. Metaverse introduced an authentication mechanism to help make the platform secure and trustworthy. On the Metaverse platform intermediaries such as Banks, Governments bodies, institution or an individual can register as an Oracle on the Blockchain. With a progressive trend, the Authority in China is supporting Chinese innovations both regarding resources and favorable policy formulations, which is proving out to be profitable for Metaverse.
How Entropy Tokens Operate And How To Obtain It
The crowdsourcing for Metaverse aka ICO started on September 6th, 2016. During the ICO Entropy tokens are distributed to investors in accordance to their investment. Metaverse was built to have a total of 100 million tokens in its system. Between 15and 30 million tokens were given out after the first ICO, and another 15 to 30 million tokens will be distributed in an ICO after the Metaverse wallet and blockchain are fully operational. The remaining Entropy will be earned in a proof of work mining process, and the system is designed to enter a micro inflation of between 1 to 4 % a year.
Danish Blockchain Company, OpenLedger ApS, signed a Strategic Cooperation Framework Agreement with ViewFin, the market leader in Blockchain technology and the developer of Metaverse™, the first public Blockchain in China. This enabled the trading of entropy tokens on the OpenLedger decentralized exchange (DEX). Currently, each Entropy is being valued a little over $5.
With the dynamics of Blockchain technology development and forward bending Chinese government policies towards Chinese owned innovations, Metaverse will succeed as a widely used Blockchain platform.
