BlockChain News
tent in a virtual reality setting. The project
is similar to social platforms like second
life but, because of blockchain technol-
ogy, it is able to skipe middlemen fees
and offer lower prices. It also doesn’t have
strict policies, making it possible for many
applications to reach the market. completely different experience. Users
can explore the virtual world for content
and discover districts devoted to a special
topic or theme. This is great for users, they
can travel themed neighborhoods or high
traffic hubs, and for content creators, ena-
bling access to targeted traffic.
Decentraland first began as a 2D grid
where users could own digital real es-
tate on the blockchain, represented by
pixels on the grid. Developers called this
Decentraland’s Stone Age. In late 2016, it
evolved to Bronze Age. Users are now able
to own land parcels in 3D and each parcel
was associated with a hash reference to a
file. This file is where where the textures
and models of the land parcel are located
and it’s possible for users to download it. Decentraland is powered by the Ethere-
um blockchain and will have two differ-
ent digital assets: LAND, the scarce and
non-fungible parcels of land of the virtual
world; and MANA, and ERC-20 token that
is used to make in-world purchases and
also burned to claim LAND.
If done correctly, Decentraland has the
potential to overthrow other social plat-
forms and become a metaverse, an in-
frastructure to support a shared virtual
The next version will be Decentraland’s
world. It lets you create your dream world
Iron Age. Developers aim to add economy with a liberty that other social platforms
to the virtual land. Users will be able to
simply cannot afford you. It will become
create dynamic applications and mone-
the closest thing to the matrix yet, and
tize them to others, so not only will it be a if you’re dream was to create and live in
distribution of land but of content as well. your own world, with the possibility of
A payment system will be added to allow even making some income out of it, De-
global, instant, and cost-effective pay-
centraland might be the experience for
ments between any two users. Also, the
you.
entire social structure will be developed,
https://decentraland.org/whitepaper.pdf
implementing peer-to-peer communica-
tions with voice chat, positioning, pos-
If you want to learn more about Filecoin,
tures, and other features.
visit the official website.
What makes Decentraland different from
web domains is the adjacency factor. Web
domains can have an unlimited number
of hyperlinks, that may not even be re-
lated or share a common topic. But the
virtual setting of Decentraland offers a
22