Metaverse ETP (ETP)

What is Metaverse ETP?

Metaverse ETP (ETP) is a novel, open-source cryptocurrency which advertises itself as a Blockchain-as-a-Service (BAAS) platform. It is designed to facilitate the low-cost and convenient transfer of assets and personal data “with unprecedented security and privacy.” The goal of Metaverse is to “revolutionize the way financial services and transactions are processed,” while simultaneously offering improvements on identity verification services. It aims to achieve this with a hybrid network of ​digital assets​, identities​, and ​predictive​ intermediaries known as Oracles.

History of Metaverse ETP

Metaverse ETP was founded in 2016 by Eric Gu and constructed by a multinational team of software engineers and blockchain specialists. With the goal of appealing to a diverse audience of users, from the financial industry to budding blockchain entrepreneurs, the Metaverse main net went live in February 2017, with the project surpassing a $100 million market cap in October of that year. It currently has a number of transglobal partnerships with well-detailed plans to actively grow its partner (and user) reach and is maintained by a development oversight committee known as the Metaverse Foundation.

How Metaverse ETP Works

Metaverse ETP uses a Proof of Work (PoW) + Proof of Stake (PoS) hybrid blockchain, meaning new coins are generated via the classical mining method and staking methods as well. By combining these two types of cryptography, Metaverse provides a robust level of security for its network. 30 million of the 100 million total coins will be allocated to “system maintainers,” otherwise known as the miners. Metaverse’s BaaS framework enables businesses or individuals to create highly-customized blockchain services according to their needs, all which takes places through the Metaverse API and on its platform’s network. Metaverse also features an “on-chain exchange” to allow for the ready, transparent purchase and sales of digitized assets, with transactions and ownership verifiable by platform-generated user Avatars.

Why Metaverse ETP?

Metaverse expands on the ideas of the blockchain as first put to use in bitcoin, aiming to make the blockchain employable by several different industries. Through its unique blockchain architecture and combination of PoW + PoS mechanisms of cryptographic security, Metaverse offers improvements on pre-existing blockchain architectures. Its “three pillars” that compose the core of its network include:

1. Digital Assets: Allows for the digitization of physical assets to enhance their market efficiency and value. Physical assets can thus achieve more volume and fluidity of trading as they are connected an “Internet of Value” as provided by Metaverse ETP.
2. The Avatar / Digital Identity: Digital identities are important for the verification of information ownership and exchange. The system provided by Metaverse thus allows for the digital exchange of information and assets, helping to connect people and companies to the Internet of Things (IoT).
3. Oracles / Value Intermediaries: Metaverse’s platform-specific Value Intermediaries serve to link the physical world with the digital world. They allow for the issuance of “smart properties” on its blockchain, providing a linkage between physical identities and platform-generated Avatars, acting as regulatory bodies that supervise transactions within the Metaverse network.