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In your nightly crypto news wrap-up, we bring you the top crypto stories. Yuga Labs is hiring; Goldman gives investors a crypto cheat sheet as major projects start pumping; and what is Do Kwon hiding?
What We Discuss:
0:14 Yuga Labs Hiring
1:17 Market Watch
2:46 Big Banks Classify Crypto
3:51 XRP Pumps
4:34 Do Kwon Guilty of Inflation?
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The Metaverse – A Virtual World Based on Blockchain Technology
The metaverse is a virtual world that is based on blockchain technology. It allows users to interact within the environment, but it also provides privacy and security. Currently, this kind of world is still in its infancy. However, the development of this world is gaining momentum, and there are some things that developers should consider in order to ensure the safety of their users. Cybercrime is a huge concern for any new digital environment, and metaverse developers should ensure that their system is secure enough to protect their users.
The new company, Meta, is focusing on creating an alternate reality that combines real-world activities and virtual world experiences. It will be based on a blockchain that uses diem, Meta’s own cryptocurrency. The metaverse will feel like a fusion of today’s online social experiences and the world outside.
Citi GPS estimates that there will be 5 billion users of the metaverse by 2030. However, it warned that there are also risks associated with this new space, including a lack of data privacy and regulatory uncertainty. Moreover, many cryptocurrencies have a high volatility, which is another potential risk. As such, big firms are expected to have a competitive advantage in this space. They have the resources and budget necessary to provide the security and privacy that their users need.
The concept of a single virtual reality, which combines real life experiences and virtual world experiences, is still being shaped and refined. It will feature avatars and a platform to socialize, play games, and browse the web. This is a virtual world that is considered to be the “new internet.” While its actual implementation is still in its early stages, the concept could be a valuable part of the cryptocurrency industry and a great way to engage with other users.