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Metaverse ETP (ETP)
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Metaverse aims to engineer a blockchain protocol that supports the peer-to-peer exchange of digital assets (i.e. Metaverse’s native token), the use of digital identities across decentralized platforms, and the validation of transactional or personal information via oracle intermediaries. These goals construct what Metaverse labels their protocol’s three primary pillars. (1) Representing physical assets in physical form is what Metaverse means by “digital assets”. (2) Digital identities for network participants (human or otherwise) via “the avatar”. (3) “The oracles” are intermediaries that link between the physical and digital world are supervisory bodies that monitor Metaverse on-chain activity.
Metaverse's blockchain is written in C++ and implements a two-phase semi-hybrid proof of work (PoW) and proof of stake (PoS) consensus mechanism. First, Metaverse implements a PoW mechanism at launch. As the protocol develops, the team plans to shift to a PoS or distributed PoS consensus. New blocks are added to the Metaverse chain every 24 seconds, on average. Digital identies are optional on the Metaverse chain. Any user can create one and connect it to their private keys, which is a requirement for authentic digital identities (DID). Oracles will not authenticate DIDs that are not connected to private keys. Digitized assets registered on the Metaverse chain do not require a digital identity to be authenticated. Metaverse intends its oracle-authenticated blockchain platform to become a blockchain-as-a-service (Baas) product for individuals or organizations interested in maintaining or using the digital assets and identities capabilities of Metaverse.
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