Time to step down the digital rabbit hole.

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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CALABASAS, Calif.–(BUSINESS WIRE)–Resonate Blends, Inc. (OTCQB:KOAN), a Wellness Lifestyle cannabis holding company (“Resonate” or “the Company”), is excited to introduce ... Read More

CHICAGO–(BUSINESS WIRE)–Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, announced today the termination of the previously announced definitive agreement to acquire 100% of the outstanding equity interest in Blair Wellness, LLC (“Blair Wellness”), a Baltimore Maryland medical cannabis dispensary […]

This article was published as a part of the Data Science Blogathon. Introduction According to the Bureau of Labor Statistics, the job outlook for computer and information research scientists, data scientists is projected to grow by at least 19 per cent by 2026. Data is collected and processed in every company regardless of the domain. Data […]

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Enhance your workouts and recovery with these amazing BCAA supplements.

An app all attendees of the upcoming Beijing Olympics must use has encryption flaws that could allow personal information to leak, a cyber security watchdog said Tuesday.

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Welcome to the Beginners guide to smart contract auditing! One of the best ways to get started with smart contract auditing is to jump in and look at a few common types of vulnerabilities in smart contracts. It would be helpful if you already have a basic understanding of Ethereum’s Solidity programming language. As we […]

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This article was published as a part of the Data Science Blogathon. Introduction We will learn in-depth about the min-heap in Python in this tutorial. This is where we will know. What exactly is a heap? What does Python’s min-heap mean? A heap’s time complexity and applications. Finally, we’ll examine the distinction between a min and […]

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This article was published as a part of the Data Science Blogathon. Introduction Regression problems are prevalent in machine learning, and regression analysis is the most often used technique for solving them. It is based on data modelling and entails determining the best fit line that passes through all data points with the shortest distance possible […]

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Looking at the top 20 cryptocurrencies by market cap (excluding stablecoins), altcoins showed the biggest returns leaving Bitcoin in the dust.

The post Bitcoin was the third-worst performer last year as low cap altcoins showed the biggest returns appeared first on CryptoSlate.

Tuesday, January 18, 2022 Aristotle, Confucius, Voltaire, and Shakespeare – each of them famously cautioned, in some fashion and in his own language, that perfect is the enemy of good. While we should strive for the best result, if the best result is not attainable, we shouldn’t forego a good result to end up with […]