Steemit Crypto Academy Contest / S3W1 - The Metaverse by @mohammadfaisal

Hello everyone! I hope you will be enjoying good health.

Firstly I want to thank the whole steemit team for the wonderful initiative of the steemit engagement challenge in the crypto academy. So I have joined this engagement challenge, so if you want to join this amazing challenge then join and show your potential.

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Join Here: Steemit Crypto Academy Contest Season 3 Week 1 - The Metaverse

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_{Image By} ^Pixabay _By ^geralt

Define your understanding of the Metaverse. What has the Metaverse aimed to achieve? Is Metaverse here fully with us yet?

Metaverse is a unique concept in which we can interact with each other virtually. We can buy things, play games, visit different places and attend the meetings virtually. This is known as Metaverse.

In the metaverse people make their communities like the groups. In this virtual world every person is represented by an avatar. And every person has a unique avatar which is the identity of that person. And now the point to be noted is that as we are in the virtual world so how will we buy things and how we will pay others for their services. Because in the virtual world it is impossible to use our local currency because it has shape, mass and weight means it is not virtual. So digital currency will be used to interact with each other. Digital currency will help to buy things, and to pay others. And NFTs will also play an important role in exchanging things with each other. These will also be used for the payment purposes with their unique values.

In the metaverse there will be everything such as we can buy weapons virtually just sitting at one place. You don't have to move even, because you can do everything just by clicking. You can watch movies and the tourist places in the metaverse. A little example of the metaverse is the use of the virtual reality headset, when we use it and wear it we feel like we are not here and whatever we watch we feel ourselves in that picture.

It has been seen that many people who watched the horror movies in the virtual reality headset got scared and they screamed a lot just like that an evil is going to kill them instead of the characters in the movie. So it is the metaverse.

The metaverse is the next evolution on the internet just like blockchain technology. As before blockchain technology has already overwhelmed each thing, but now the metaverse is also spreading all the time and in future metaverse will be on fire on the internet against the previous technologies.

The most important thing is that metaverse has been built on the internet so it's race is not with the internet, it is just a technology to revolutionise the whole world virtually. Metaverse will simply build another whole world virtually which will be like the real world. But it does not require any specific place it will be invisible and anyone will be able to interact in this virtual world.

Recently the biggest Centralized Social Media platform Facebook had just moved to the metaverse world as it has announced last year in October 2021. And according to the announcement facebook will allocate almost 10 billion dollars for buying and installing the metaverse technology. And we know that almost every person use Facebook so it was the biggest step to bring metaverse to the real lives.

Similarly most of the other big companies like the Epic Games whose identity is the development of the Fortnite series. This company is also taking part in the metaverse world and it had planned to stake $1 billion in the metaverse world.

And another, the most famous company Microsoft whose service I also use for the online meeting purposes. It is also heading up towards metaverse.

Metaverse is not here fully we are just a little bit in metaverse, because it is still a dream to implement metaverse, a virtual universe in our lives.

State the technologies that can be utilized to achieve Security, Ownership, and others in the Metaverse. In your own words, how are the technologies going to be utilized to achieve security and ownership? (Include any components of the technologies that would be of great advantage to the development of Metaverse).

Security and the ownership are the most important qualities of any project. Because if the security of any project is not strong then the project cannot sustain and it will be destroyed and will not succeed.

As we know that in the real life we have need of the username and our passwords to log in different websites on the internet. But we know that these things can be hacked and at any time it may happen. So in the metaverse there will be a system of personal identification. And this personal information And it will be more personal than any Google or Facebook account detail. It will contain your identity card, your other banking information. So that no one can temper the metaverse system by creating the fake IDs.

It will be problem for the small companies to collect all the data and to process it to use for the metaverse world. So in this way the security will be made strong. And in this protection the virtual economy and the offline economy will contribute with each other. And the stakes will be very high from the current stakes so that the stakeholders cannot do any fraud fearing from the loss of their staked assets.

So these measures will help for the development and success of the metaverse and in this way the security and ownership will sustain.

Do we have any Gamification developments that look like the Metaverse? Discuss any two protocols and how they work.

As we know that games are playing their role in entertaining the people from the last decades. People of every age children, adult, old play the games. I still remember that when I was a child I saw my brother playing game super Mario. So games are much old from super Mario to current high quality games.

But now the next era is going to be of metaverse and many play2earn games are coming and has been introduced in the metaverse world. So now games are getting more attention in the world of the metaverse.

Today different gamification developments have been made and from those developments, Roblox is the first ever company which introduced metaverse technology in the online digital entertainment game. Later on, Roblox introduced the VR system and enhanced it's development toward the metaverse technology. It provided the world imagination of virtual life by thinking out of the box.

From this you can understand the development of the metaverse I'm the gamification that now the Roblox employees are working from their Virtual Roblox Headquarters and hosting the different meetings virtually. They are attending the parties virtually as well and they also introduced a virtual concert within the Roblox to its users.

Axis Infinity is another metaverse gaming project and it was the 2nd development in the world of the gamification of the metaverse. Axis Infinity is a metaverse based game in which the economy is in the hands of the players. And due to its this quality this metaverse gaming project became very famous in a while. It provides the players authority a viewing to their staking of the coins. In this gaming metaverse project players trade their NFTs which had made it more successful.

There are also other metaverse gaming projects which are doing different developments and emerging day by day.

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Polygon protocol works with the metaverse which has its own native token known as matic. It was introduced to scale and connect the blockchains. Polygon increases the flexibility, scalability of the blockchains. And as it was build on the basis of the Ethereum network so it also provides security of the Ethereum blockchain.

Matic is the governance token of the polygon a metaverse protocol. And it uses the Proof of stake consensus for the working. It's working is simple, secure and more fast due to the proof of stake.

In the polygon people stake matic tokens the governance tokens of polygon and become the validators. So they validate the transactions because of their staking. In this way polygon works.

And the validators are rewarded with the matic tokens for the successful transactions. And these matic tokens come from the transaction fees.

In the working of the polygon is the most important thing is that we can't trade our staked matic tokens on the exchanges for becoming validator.

It is the fastest way of transaction than the Ethereum protocol and due to this polygon protocol other blockchains can contact with the Ethereum protocol.

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NEAR is a protocol and it offers fast transactions as compared to other competitors. Near protocol is a giving it's services in the nft. And it is working with the metaverse world. Many NFTs and games are in the development phase using the services of the near protocol.

Near protocol works with its native token near which is used to pay the fees for the transactions. And it also allows users to run the applications and allows storage services as well and for this purpose it costs near.

Near protocol also works with the proof of stake and in this protocol the near tokens are staked and the validators with the high amount of staked tokens get more authority fir the validation of the transactions. And it is a secure and fastest way of transactions as it has claimed 10,000 transactions per second and it's rival is Solana which is offering 3000 transactions per second, and near protocol is far better than it. So in this way near protocol works and it's collaboration with the metaverse games, NFTs and cryptocurrencies is really appreciative.

What are the Pros and Cons of Metaverse? Do you believe in the future of the Metaverse? Discuss.

As we know that metaverse is another evolution on the internet in the form of the virtual universe. But it is a natural thing that everything has its advantages and disadvantages. So just like that metaverse is also taken as a wonderful development and on the other hand it also disadvantages.

Some of the pros and cons of the metaverse are given below:

Pros of Metaverse

• As Metaverse is subject to create a virtual universe so it will eliminate the physical barriers, and everyone will be able to meet each other in that virtual universe without any physical location problem. So metaverse will wipe out all the distances between us.

• Metaverse will make the best social interactions without any hurdles. And we will be able to join the meetings, parties, concerts and other functions virtually.

• The more optimized experience of the social media. The biggest social media apps will allow us the three dimensional view and it will be the best experience of the social media and we will be able to feel each thing more deeply.

• Metaverse will surely enhance the business opportunities, as we know that social media has enhanced. But with the use of the metaverse technologies there will be more ways of the business. The advertisement of anything will be just like a real world because with the use of the metaverse technologies we will be able to feel and hold the advertised product.

• Metaverse will make the online education more effective. As we know that the current most used online platform for the education meetings is zoom and the Microsoft meeting applications. But the metaverse will boost it and will make the online education.ore easy and comfortable.

• Metaverse will enhance the scope of cryptocurrencies and NFTs, as in the metaverse digital assets and NFTs will be used so their value will be increased automatically.

• Metaverse will improve the gaming fields as I have explained the gaming projects above that how they are getting fame. Due to metaverse there will be a wonderful gaming display in which players will feel themselves that they are playing in the game.

Cons of Metaverse

So now come to the other side of the metaverse. So here are the some cons of the metaverse:

• As we know that Cybercrimes are the biggest challenge on the internet from the establishment of the internet. And now the security systems have been made strong after a lot of struggle. But as Metaverse will be the new so it will face all kinds of cybercrimes.

• Metaverse Addiction is the another bad thing which is just like the addiction of games. And if we become addicted of the of the metaverse then we will be disconnected from the other relations.

• Privacy and security is the most important thing for every user and most of the people who don't know how to save their data correctly then they will lose their data. So being unknown from new the terms and conditions people will face the privacy issues.

• Bullying due to metaverse is one of the bad thing because it is a common thing on the internet that many people face bullying from the strangers. And on the metaverse it will get a new shape and it will be more harmful and will out people into stress.

• As for the metaverse best hardware devices are required and the fastest connection is also necessary. So for this purpose a lot of resources will be used.

• And the other big issue is that the big companies will be able to make the more opportunities to get money from the users by different tricks by making the metaverse their bank account. It is the biggest issue that when the people got addicted to metaverse the big companies will start looting the people.

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Conclusion

Metaverse is a dream and this dream is under construction in the form of new projects of games and other virtual studios. And I hope that metaverse will facilitate us more than we are thinking nowadays. But still the security and ownership is the biggest issue and the teams should run and make strict rules so that no one can be hacked. Slowly slowly we are moving into metaverse.

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Yours: @mohammadfaisal