Blockchain
You can explain a Blockchain as a digital ledger that consists of a growing list of records (or blocks) interconnected using cryptography techniques. Each block on the Blockchain will have a cryptographic hash code explaining the previous block on the chain, a timestamp for when the block was used, and any other transaction data.
Due to this, the Blockchain is immutable and is virtually impenetrable to fraud as there will always be an end-to-end record of transparency.
Blockchain in Metaverse
The Metaverse can be explained as the three-dimensional virtual reality where users can interact with digital objects. The Metaverse is persistent, real-time, infinite, self-sufficient, interoperable, and decentralized.
It is easy to imagine how cryptocurrency can fit into the vision of the Metaverse. Crypto is somehow completely untethered from real-world currencies, both in value and physical form. This makes crypto a convenient mode for payment in the virtual world.
Blockchain use Cases in the Metaverse
Numerous ways of applying blockchain technology in the Metaverse are discussed in the following cases.
Immutable in-game assets
In-game assets It becomes essentially helpful to buy and sell NFT. VR gameplays would allow the user to make real money, which has some value inside the Metaverse.
Self-identity authentication
As the users navigate around the Metaverse and their identity evolves, blockchain technology can keep track, including acting as the equivalent of a social security number but a virtual one.
Real estate in the Metaverse
Like in-game assets, real estate is another critical commodity in the Metaverse. It defines and regulates real estate, which can be challenging. Blockchain could be immutable for creating, altering, and treating real estate in the Metaverse.
Frequently Asked Questions
-
What is Metaverse, and how does it work?
Blockchain Metaverse offers proof of the existence of every digital thing. Crypto and Blockchain are the perfect examples of live Metaverse.
-
What is the use case for Blockchain in the Metaverse?
The most obvious use case for blockchain technology in the Metaverse is Decentraland, and Axie Infinity is the perfect example of virtual reality platforms that use blockchain technology.
-
Why do we need cryptocurrency to trade in blockchain Metaverse?
People trade and buy virtual assets on these Metaverse platforms using cryptocurrency.
Conclusion
In this blog, we successfully explained the topic of Blockchain in Metaverse. We clearly defined what a Blockchain is. We also have explained what Blockchain is in Metaverse. We also discussed use cases of Blockchain in the Metaverse. If you want to explore such a topic, please visit Game.
Refer to our guided paths on the Coding Ninjas Studio platform to learn more about DSA, DBMS, Competitive Programming, Python, Java, JavaScript, etc.
Refer to the links problems, top 100 SQL problems, resources, and mock tests to enhance your knowledge.
For placement preparations, visit interview experiences and interview bundle.
We hope that this blog has helped you in enhancing your knowledge. If you liked this article, please give it a thumbs up, which might help me and other ninjas grow. "Happy Coding!"
34+ registered 
