Metaverse is a type of platform that allows the creation of decentralized applications and smart contracts in a large-scale ecosystem. This is quite similar in concept to Ethereum, but the project has a number of its own unique features.
Metaverse wants to enable the creation of digital assets, through which it will be possible to offer convenient and secure services based on blockchain technology to a wide variety of people, businesses and even government agencies.
It also assumes the presence of its own oracles, which will be responsible for the interaction of the platform with the outside world.
The project team
The project team consists of more than 50 employees, 8 main positions are presented on the website.
Founded in 2014, ViewFin is the creator of Metaverse, China's first public blockchain based on the PoW consensus mechanism. ViewFin is one of the most promising fintech companies in China, boasting a team of domestic and international experts from different countries and areas.
The founder of the project, Eric Gu, has extensive experience in IT development. Eric is a Blockchain and Digital Identity expert and a renowned thought leader in the Chinese digital ecosystem. A lifelong member of the Bitcoin Foundation, he was the main translator of the first book on blockchain published in Chinese.
CTO Hao Chen is considered a highly visible speaker for the 2022 Arc Summit, with some of his presentations receiving very high ratings and public recognition.
Head of Global Development Janice Shea is very active in exchange relations and is responsible for organizing conferences.
Listing on crypto exchanges
Currently, the sale and purchase of cryptocurrency is available on the following platforms:
| Exchange | A country | Registration |
| Great Britain | Go | |
| China | Go | |
| Decentralized | Go | |
| Decentralized | Go | |
| Decentralized | Go | |
| Decentralized | Go | |
| China | Go |
- TOPBTC, trading is carried out in CNY (up to 48% of the total volume);
- Bitfinex, for dollar, bitcoin and ethereum pairs (up to 33% of the total volume);
- Bit-Z, to the BTC pair, up to 7-8% of the total volume;
- RightBTC, to Bitcoin and dollar pairs, up to 7-8% of trading volume;
- QBTC, to the CNY pair, up to 1.5% of volume;
- CoinBene, to the BTC pair;
- HitBTC, to USDT, BTC and ETH pairs;
- QBTC, to USDT pair;
- TDAX, for Bitcoin, Ethereum and THB pairs.
The last 4 exchanges presented have insignificant trading volume.
Social media support is available on Twitter - @mvs_org; Reddit - Metaverse_Blockchain.reddit.com/
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A little history
China is a country with a controversial reputation regarding cryptocurrencies. Last year, it not only changed the ICO rules, but also created cutting-edge Chinese blockchain projects that have attracted quite a lot of attention from the Western world.
Just look at the Antshares / NEO project, which was the first to receive wide praise in the crypto community and is considered one of the most promising.
Metaverse's mission is to create "a decentralized open platform based on blockchain technology for the digitization of assets and identities."
After holding their first ICO in late 2016, where they raised around US$2 million, the project received additional funding in 2022 from unknown institutional investors worth around US$200,000. This development is very reminiscent of the Ripple story, which has its good and bad consequences.
It is not known exactly who is behind these institutional investors, so it is impossible to determine the extent of their influence. At the moment, it is known that the project has partnerships with two startups:
- Zengold – a platform for more flexible gold trading;
- ZenAir is a project that creates an ecosystem for blockchain travel.
Another strategic partner is the Russian block construction project KICKICO, which may help develop the project to adapt to the Russian blockchain market.
ETP cryptocurrency exchange rate to dollar and ruble
At the time of writing this review (April 20, 2018), the ETP coin rate is 1.2 USD. The capitalization of this cryptocurrency is 46.4 million USD, and the trading volume is increasing. Now is a very good time to enter the asset, as ETP is showing good dynamics.
Metaverse (ETP) cryptocurrency rate growth
UPD: As of mid-August 2022, the Metaverse cryptocurrency (ETP) is showing continued abnormal growth. We can say that this is one of the coins that goes against the trend, since now everything is at the bottom due to the global correction.
If you heeded my recommendation and bought a coin at the end of April, then you have now made almost x3.
It’s safe to say that this is only the beginning of the project’s rise. We will see the strongest price increase after a global change in the market trend, which will begin very soon. Now is still time to buy Metaverse cryptocurrency (ETP) for the long term.
Technical specifications
Official website of the platform – https://mvs.org/
The uniqueness of the Metaverse platform is that it gives its users the opportunity to easily and conveniently transfer any personal data digitally in a private and secure manner.
Metaverse is similar to the Ethereum and NEO projects in that it is a smart contract platform. But unlike Ethereum, you don't need to be familiar with Solidity. Ethereum is smart contracts, Metaverse is smart assets.
The token used by Metaverse is called Entropy (ETP). It is designed to measure the value of intellectual assets and their properties. These measurements are used as collateral in all transactions and to pay fees on the platform.
- token – ETP;
- maximum emission – 100,000,000 ETP;
- allocated amount for system developers (PoW mining) – 30,000,000 ETP;
- programming language – C++;
- consensus – PoW + PoS.
Conclusion
Chinese developer Viewfin.com has recognized the potential of the Ethereum blockchain and smart contract technology. However, they believe they can improve the technology, make it less contract restrictive, and serve it in the Chinese market. Metaverse is essentially the Chinese version of the Ethereum blockchain.
We've already seen the potential of the Metaverse block with companies like ZenGold, which offers digital tokens backed by real gold reserves verified by the Metaverse blockchain.
Metaverse Network
The Metaverse network is built on three components:
- physical digital assets;
- digital identity;
- intermediary services – oracles.
Any natural asset can gain its digital value by digitizing and assimilating its value into the global network. The value of digital assets can be pegged to gold and quickly moved anywhere in the world through the Zen-Gold-Metaverse client network.
The Zen-Dao-DApp will assist in verification activities regarding proof of ownership of digital assets in a real-world environment. Digital identity is very important not only for the exchange of information, but also for the secure use of data.
Oracles on the Metaverse blockchain connect it to the real world and facilitate the transfer of personal data and assets between each other. Oracles work as intermediaries. They are built on the blockchain and verify the connection of avatars with a physical name, and also regulate transactional operations in the Metaverse system.
Creating smart assets
It can be said that Metaverse aims to become a Chinese alternative to Ethereum, where intermediaries will be parties interested in concluding transactions that will be recorded in a public ledger.
Metaverse has a simple lead generation form that any business can use by entering all the required information. The project positions itself as a 2B2C resource.
In order for assets to be used on the platform, they must first be registered on the blockchain. After registration, the assets will be transferred to the avatar (representation of the object in the system).
When you have an avatar, you have a digital passport to the virtual world. Your avatar can be controlled by a natural person or by artificial intelligence.
Any person/company/IoT device can have an unlimited number of avatars, and any avatar can have an unlimited number of dedicated assets. In addition, assets can be stored simultaneously by several avatars.
Fast start
Download any of the following miners for Metaverse mining.
Our website contains only the latest versions of software! Therefore, if you have an old version, we strongly recommend downloading the latest version of Claymore's or Phoenix from the links below, since with each new version released, Metaverse mining becomes more profitable!
| Program | Series | Setup and download |
| Claymore's Dual Miner | Nvidia+AMD | |
| PhoenixMiner | Nvidia+AMD |
Next, you will learn the step-by-step process of mining Metaverse.
Oracles
Metaverse strives to include another important feature - verification or refutation of information provided by users. For example, if you want to enter deliberately false information about your avatar (incorrect date or place of birth, country of residence, etc.), no one will be able to stop you.
But if you include “oracles”, which can be represented by, for example, official government departments that can provide objective evidence of the data entered, then the information will be more reliable.
If you own a gold bar, the bank can provide proof that you actually own it. Register your bullion as a smart asset on the Metaverse blockchain and create a real, tangible asset that can be used in the digital ecosystem.
It turns out that Metaverse is trying to make Blockchain borderless and extend it to the real world.
Mining
Currently, the Metaverse project is using a conventional PoW system that will work with GPUs. To protect against a 51% attack, the volume of coins allocated for PoW mining is limited to 30 million ETP.
Subsequently, Metaverse will switch to a modified dPoS consensus method. Two different stages will implement their functions:
Stage 1 – PoW:
- digital identifiers;
- registration and transfer of digital assets;
- data processing and credit assessment;
- support for additional blocks running on Metaverse.
Stage 2 dPoS:
- smart contracts;
- implementation of Oracle services.
For PoW mining you will need to select a pool. Theoretically, you can choose Solo mining, but you will have to wait quite a long time for payments. Using a pool will allow you to receive consistent payments, several times a day.
The software can be selected for Nvidia or AMD GPUs.
Pools for ETP mining:
- US – https://etp.fairpool.xyz
- UK – https://etp.dodopool.com
- Russia – https://coming.io
- China – https://www.uupool.cn
- US/Europe – https://cryptopoolpond.com/#/
- Europe – http:/etp.sandpool.org or https://etp.altpool.pro or https://etp.europool.me/
Current information about mining:
- block number – 1 381 826;
- complexity – 16.398 T;
- hashrate – 359.215 GH;
- reward for miners – 3 ETP;
- difficulty setting after each block;
- block creation time – 24 seconds;
Users have the opportunity to earn income by locking (freezing) their ETP coins purchased over a certain period of time.
| Block number H+ | 26295 | 112696 | 345600 | 683687 | 1371130 |
| Remuneration, % | 0,10 | 0,66 | 3,23 | 7,98 | 20,00 |
| Time, days | 7 | 30 | 92 | 182 | 365 |
If you freeze coins for a year, the reward will be 20%. Of course, it is not known what will happen to ETP in a year, and there is a certain risk in this, but earnings can be very interesting. And the goal of all this on the part of the developers is quite clear: to influence ETP inflation in the future by “dynamically adjusting” coin rewards.
The difference between ETP and BTC
In general, Metaverse uses similar concepts to Bitcoin and Ethereum. In the same way, there is the possibility of mining and building a blockchain architecture. The main difference is information coverage. If hundreds and thousands of articles have been written about Bitcoin and Ethereum, then finding general information and a technical description of the metaverse cryptocurrency outside of China is a rather difficult task.
It is explainable. The Chinese love to create their own Chinese versions of famous products. So, there is a Chinese Facebook substitute, WeChat, and a Google substitute, the search engine Baidu. So the creators of Metaverse took their native market as a priority and have already won the name “Chinese ether”. But this approach significantly reduces the number of options for possible investors. The western half of the globe simply does not know about Metaverse or does not have enough information to decide to invest their money in the Chinese project.
Creation and release of tokens
Users can create their own digital currency using Metaverse Wallet. Metaverse Blockchain allows you to register, issue digital assets, and transfer their value into the ecosystem.
All digital currency issued on the Metaverse public block will be visible in your wallet (All Assets tab). Enter the digital currency type, amount to be issued, decimals, additional asset details and confirm your intent.
Please note that assets are created locally and are not registered with Metcherse Blockchain. There is no fee to create an asset.
Weak spots
There are two real factors that can stop or slow down the development of Metaverse:
- A complete ban on cryptocurrencies and everything connected with them in China. This situation seems unlikely, but there is a chance;
- The emergence of a real, stronger competitor that will overtake Metaverse in development or offer the same or even better functionality. This development option seems more realistic. Moreover, the Metaverse team has been somewhat fussy with updates lately.
