The impact of Bitcoin on war will not simply be the eradication of violence, a problem of humanity since the dawn of time.

Steven is a man who was raised on the Shetland archipelago. At the age of 13, he left school and made his way into construction, where he earned a whopping salary of more than 85,000 pounds per year. How Steven Has Dealt with His Crypto Addiction This isn’t bad for someone with limited educational means....

The post A Man Named Steven Has Lost Everything to Crypto appeared first on Live Bitcoin News.

The mania around Web3 is intensifying by the day, especially as the digital infrastructure surrounding it continues to take a definitive structure. This has caused many players from the current internet epoch to allocate their resources to the same in a bid to stay relevant during this transformative period. The most recent move in this […]

Bitcoin’s fixed supply makes it a possible good inflation hedge, according to pundits.  By 2140, mining blocks will no longer yield a block reward.  John Cantrell believes that the hash power generated would still be enough to secure the network.  Bitcoin is one of the most valued cryptocurrencies and, indeed, the one with the largest […]

PEJ, an entertainment NFT that aims to facilitate a decentralized payment network and financial infrastructure development has announced the launch of the first wearable NFTs. In a bid to contribute to the vast growing blockchain technology, PEJ has introduced the first wearable NFTs designed in the form of a wearable PEJ hoodie. The PEJ wearable […]

In the face of massive sanctions, top Iranian official believes cryptocurrency is a solution. The country is now looking to launch its CBDC in a pilot phase.

America’s media, central bankers, and bureaucrats continue to debate the rising inflation in the U.S. that has raised the cost of living and increased the prices of goods and services nationwide. Senator Rand Paul, R-Ky., believes the inflation is “only going to get worse” and he published a report on the issue and blamed excessive […]

One key official in the European Securities and Markets Authority (ESMA) is calling for a prohibition of proof-of-work mining, a computationally intensive process that is critical to cryptocurrencies such as Bitcoin, Ethereum, and other forked altcoins. EU Regulator Pushes Proof of Work Mining Shutdown The vice-chair of the European Securities and Markets Authority, Erik Thedéen, […]

Opera has announced that it will be releasing the beta version of its new Crypto Browser Project. The crypto browser seeks to improve user experiences [...]

Phemex, one the most efficient and complete platforms for trading crypto online, with more than 2 million users, is taking another bold move to improve its platform. SAND is the native ERC-20 token for Sandbox. A virtual gaming system that allows players to create and own their unique NFTs on the Ethereum blockchain. In Sandbox, [...]

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Key Takeaways Derivative markets are indicative of how mature financial systems are. The DeFi derivatives space is in its infancy and lags in development relative...

Nowadays, people are spending more time in the virtual world in comparison to the real world. People are using mobiles, laptops for both work and leisure. An introduction to the 3D world will create a more immersive experience for people. Websites and applications where people spend most of their time are controlled by a centralized entity. People don’t have any control over these applications. Decentraland, unlike other social networks, games are not controlled by a centralized entity. The community owns and has full control over this shared virtual world.  What is Decentraland? Decentraland is a shared virtual world that is powered by the Ethereum blockchain. Its users can create content and monetize it. Users can pay for experiencing various applications in Decentraland. The community permanently owns the land in Decentraland and has full control over it. The ownership of land can be claimed by users through a blockchain-based ledger of parcels. Each portion of land can be identified by a set of cartesian coordinates (x,y). Landowners decide what type of content can be published to their land, content can be static 3D scenes, interactive games. All the land in Decentraland is an NFT, stored in an Ethereum smart contract. To acquire land in Decentraland, the MANA token is used. Digital goods and services can also be purchased by MANA. How does Decentraland work? Decentraland has built a framework for supporting shared virtual worlds. A decentralized ledger stores all the data of ownership of land, contents of each parcel of land and also provides a peer-to-peer network for user interactions. Users can participate in governance functions and can propose policies and vote on upcoming LAND auctions. Decentraland’s protocol consists of three layers : A consensus layer: This layer is used for tracking ownership of land and its content. A LAND content layer: This layer uses a decentralized distributed system to download assets and for rendering content in the virtual world.  A real-time layer: This layer is responsible for enabling users to connect with each other.   The above diagram shows the steps executed by the Decentraland client to provide the experience of a virtual world in a decentralized manner. Each piece of land is marked by a unique set of cartesian coordinates. Content created by users can vary from 2D scenes to 3D scenes giving an immersive experience.  The consensus layer is responsible for tracking ownership of land, land content is referenced here as a hash of the file’s content. The content can be downloaded from IPFS or BitTorrent by using reference. The downloaded file of content contains a description of objects, sounds, textures, and other elements needed to render the content scene.  Decentraland has two important systems which enable its economy to develop : Payment Channel Infrastructure: It enables fast payment with low fees. Identity System: It allows users to prove their ownership over their creations.  Tokenomics   Decentraland has an ERC-20 token called MANA. It is used to buy, sell digital assets and can also be used for gambling in virtual casinos. It is also a governance token. Holders of MANA tokens can participate in governance functions. They can propose their own policy and can also vote on the different proposals.  Decentraland is controlled by MANA holders through Decentraland DAO. The DAO owns the important smart contracts and assets such as the LAND contract, Estates contract, Wearables, Content servers, and Marketplace.  1 MANA token gets you 1 vote and owners of LAND and Estates get 2000 votes. The maximum supply of MANA tokens is 2.193 billion. As of writing this article, the circulating supply of MANA tokens is 1.32 billion, the market cap is 3.7 billion, and the price is 2.84 US dollars. Applications of Decentraland Content Curation  Decentraland users can create content of shared interest of their neighbors. If a creator is living near a high traffic hub, then more users will drive to the creator’s content. Advertising Brands can drive users to their products, services, and events by using billboards to advertise in high-traffic hubs. Brands can create shared experiences to engage their audience so that users will be interested in using these experiences in their own land. Digital Collectibles  Digital assets are published, distributed, and collected by users on the blockchain. These digital assets can be traded easily by users in the Decentralnd. Rare or old digital assets are traded at a very high price. These digital collectibles are used to identify users and their land.  Social All the groups which are present in online forums, chat groups, discords can port their communities into Decentraland. People can form different communities on various subjects and can propose their policies through governance. Conclusion Decentraland has opened a new world of possibilities for internet users. Users can create their own content on a decentralized platform and can receive all … Continued

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