Our Layer 2 Blockchain Solution is Perfect for the Metaverse
Blockchain technology is getting more popular as each day goes by partly because of the rise of cryptocurrency and its widespread adoption. Bitcoin, the father of all cryptocurrencies and the first acceptable peer-to-peer digital currency, was introduced to exchange and store monetary value. In 2015, Ethereum spearheaded blockchain’s first foray into the building dApps using smart contracts — thereby creating the world’s Internet Computer. For the first time, anyone could build decentralized applications on the blockchain.
Explaining the challenges of the Ethereum Blockchain
With much emphasis on decentralization and security, Ethereum became a formidable and secured blockchain — with apparent downsides in the form of low transaction throughput and high gas fees.
Acknowledging the existence of a problem is different from proferring a working solution. Thankfully, various blockchain organizations (including ours) developed Layer 2 solutions to solve Ethereum’s scalability problems and ever-rising gas fees.
In solving the challenges mentioned above, different blockchain organizations adopted the Rollup technology to bundle multiple transactions on Ethereum, rolling them as a single data and submitting them to the Ethereum Network. While some favored using the Optimist Roll up, we adopted the Zero-knowledge Roll up (ZK Roll up) based on Plonk Algorithm.
With our ZK roll-up technology, we have established an outstanding reputation for becoming one of the cheapest and most secure Layer 2 blockchains.
What is the Metaverse?
The Metaverse is the technological point of consolidation of Artificial Intelligence (AI), augmented reality (AR), and virtual reality (VR). It is an augmented virtual world formed by virtual and physical space convergence. Users can interact within the augmented world, meet virtually, and indulge in virtual activities that provide real-life experiences.
Why our Layer 2 is perfect for the Metaverse
According to Zig Ziglar, “Success occurs when opportunity meets preparation.” We are building our Metaverse on a solid foundation — Layer 2. Thus, we are on the pathway to success. However, our blockchain journey started with building a layer 2 blockchain — to developing a Layer 2 Metaverse. And that we did that within a short period.
The robust feature of our ZK roll-up Layer 2 is perfect for the Metaverse, and the reasons are not far-fetched. In terms of blockchain security, we are secure, just like Ethereum. Users are not afraid of hackers or breaches of data. Instead, they are advised to comply with blockchain good hygienic practices like — keeping your wallet’s Keystore and private keys safe and never trying to give them to anyone.
Additionally, our technology makes Metaverse transactions affordable. Thus, there is a low barrier to entry as users do not need to pay high gas fees customarily associated with Ethereum.
Another important reason is our blockchain’s decentralized and distributed nature, which means that we are free from the problems of centralization, which is against the ethos of web3.