Some of you may know the Metaverse and how it will work with the new Web3.0 and the Cryptocurrencies Today we talk about all these new trending topics that you are seeing in your daily life about everywhere on the internet.
First, we pick the Metaverse because all the other things that we look at in this article are related to the metaverse. Metaverse is the new way to look at the technology and use it with time. The 3D animated world that is used with some type of glasses like Facebook Oculus is used to interact with the Metaverse World and many other companies like Microsoft, Apple, and other tech giants are also working on this technology because it is the new need of the future. In the past pandemic, Ara we see that everyone is working from Home So the need for this technology is raised because it is the best option to interact and work without moving from your position at home. The concept of this technology is very old.
Working of Metaverse:
In Metaverse, we Use Oculus glasses to put on our eyes and by doing this we entered a new world where we can perform all the daily life tasks that we used to do on our PCs, Laptops, and mobiles. Metaverse is also taking the gaming Environment and way of gaming to new heights. By talking of games that we may be able to play in some next coming years Cryptocurrencies also have a very important role in Metaverse gaming Like in some games we do pay an amount to buy some assets So if we look at the Metaverse we use these Cryptocurrencies to pay the fees of these assets. Some movies are made on the concept of Metaverse like a movie launched in 2021 named “Free Guy”.
Today privacy is the most concerning thing among the World communities so to overcome this Web 3.0 is launched. By the time concept of blockchain come into our lives Web 3.0 and Cryptocurrencies also came along the blockchain concept. In the previous version of the web, we use to control by the someone else and have no privacy over the information that is placed on the web so anyone can use this Info to do some illegal work. So with the web 3.0, all info related to us is in our have we are the sole owner of everything that is placed on the internet about us.
Working on Web 3.0:
In web 2 we use a centralized database(Server) to store our data that is placed in a company at some location somewhere in the world the owner of the company can access our data for their use or leak it under the pressure of some govt organization. In Web 3.0 we used the blocks that are stored over the internet and no one knows their location and can access them by any means. These blocks when combined called the blockchain so the whole data is stored on the Chain of blocks we only know the address of these blocks which is also called Hash Code and it is 32-bit in numbers. All the cryptocurrencies are worked on these chains that will also become the feature currencies of the world.
Cryptocurrencies get a lot of attention during the Covid period because people lose their jobs due to the quarantine situation all over the world. Crypto Currencies are working today as digital currencies to buy things and use in daily life. As these currencies work on the blockchain so nobody controlled them they work on the trend based on the people that use them although there are some people or organizations in the world that control them somehow but other than it is totally in the hand of the people that use them.
Working of Crypto:
The concept of cryptocurrencies and the blockchain was firstly introduced by the scientist “Satoshi Nakamoto” in 2009 by publishing a paper about the this will work in feature. He also launches Bitcoin which is the strongest currency in today’s time. Crypto works on the blockchain all the cryptocurrencies that today exist are working on some chains although with the time there is much modernization in the concept of blockchain to perform transactions etc.
As we all buy and sell the good in our physical world so to happy and comfortable life but the internet is the main thing that we interact with on daily basis to perform our tasks so buy selling on the internet also becomes essential for human beings. As in the Physical World, we own property that is registered in our name somewhere that is located same as the concept of NFTs is introduced about the things that are our property on the internet. We buy things that are in digital form and have no physical interaction with humans but if we buy them on the internet these things will become our property that we own in the digital world (internet).
Working of NFTs:
We define the Working of NFT’s same as we do our business in the physical world to make the things under our property empire. On the internet, there is no concept of physicality here we talk about all the digital content that is available on the internet like videos digital Art 3D works, etc. There are some websites on the internet through which we can buy these arts using Cryptocurrencies. Then after the buying, these arts will become our property on the Internet.