NetVRk: A Platform Based on Blockchain Architecture and Designed for Virtual Reality

NetVRk has designed a decentralized marketplace within the VR platform, which was developed on top of the Ethereum Private Chain. This solution provides additional comfort and convenience to platform users, granting them increased transaction speed, reduced transaction fees, and full transparency of operational activities in the internal blockchain environmeеnt.

Vision

NetVRk will probably make a new and supposedly fun world to explore, populate, and shockingly reshape to fit all of their clients' needs. NetVRk customers will indeed need to leverage their universes for individual and primary purposes while receiving payment for a natural blockchain-based structure that gives them devises to adjust virtual reality environmental factors in a guaranteed economy.

Ethereum Private Chain

Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract functionality. You can build a “private” Ethereum network rather than the public network which can be used to make transactions and build smart contracts without needing real Ether. and NetVRk chooses that option. ERC20 utility tokens purchased during an IDO serve as access to the NetVRk platform within the Ethereum Public blockchain. Platform access is enabled after sending the appropriate amount of ERC20 utility tokens to the platform wallet.

What is an ERC-20 token?

An ERC20 token is a blockchain-based asset with similar functionality to bitcoin, ether, and bitcoin cash: it can hold value and be sent and received. ... ERC20 tokens are stored and sent using Ethereum addresses and transactions and use gas to cover transaction fees.

Decentralized marketplace

Decentralized marketplaces are what blockchains are all about. They allow people to interact and transact on a global, permission-less, and self-executing platform. Houses, hot sauce, and t-shirts can all be bought and sold without needing to trust a middleman. The NetVRk decentralized marketplace was developed within the Ethereum Consortium blockchain. This solution allows a direct connection between buyer and seller, thereby reducing fees and increasing transaction speed. Within the NetVRk marketplace, users will be able to securely interact in the virtual reality environment, easily creating their own worlds, universes, and/or VR content. They will also be able to trade or lease it using smart contracts in the decentralized environment.

Hybrid Token Model

For full transparency of operational activities, NetVRk has developed a hybrid token model with the deployment of an additional ERC20 utility token in the private chain. This serves as a native token within the Ethereum Private Chain. These tokens are trackable and traceable, and function as a payment unit within the decentralized marketplace. After sending ERC20 utility tokens from the public blockchain into the platform wallet and gaining access to the platform, the user is assigned an internal platform wallet address. The operational smart contract in the private sidechain checks the information from the platform wallet regarding the amount of ERC20 utility tokens that are sent from the public blockchain through the gateway. This serves as the connective unit between public and private blockchains and mints the appropriate number of internal ERC20 utility tokens in the internal user wallet.

The pro’s and con’s of Hybrid Tokens

Hybrid tokens borrow elements of utility tokens (or even cryptocurrencies). Like with utility tokens, a limited supply is created. These tokens can be used to unlock the utility from a network or decentralized application, thereby acting as a means of exchange within a certain network. Just like with utility tokens, the lack of early utility for token holders in such applications or networks is mitigated by the additional potential for financial gains through the appreciation of a hybrid token’s value when the network becomes more widely adopted.

NetVrk’s Vision is to Become a concomitant development of the Internet, offering the world a way to cope with overeating and have a clear experience, while regulating and sharing content, which will lead to a gradual transformation into a virtual metaverse.

Learn More About The Project;

Website: https://netvrk.co

Whitepaper : https://drive.google.com/file/d/1PYsht_9lsI_aFjAr2SDz_N5kzpOCHYXP/view

Twitte : https://twitter.com/NetVRk1

Facebook : https://www.facebook.com/NetvrkVR

Telegram : https://t.me/NetVRk_Official

Medium : https://www.medium.com/@netVRk

Instagram : https://www.instagram.com/netvrk

Discord : https://discord.gg/baAhdCHUnb

Author

Proof Of Registration Link : https://bitcointalk.org/index.php?topic=5330162.msg56930646#msg56930646

BitcoinTalk username : Fornam

My Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=2280648

ERC-20 wallet Address : 0x666B2d7E4314A3B12e5249b4b129fBF8d595203F