Ethereum has boomed in value and is known as the biggest Bitcoin competitor.
Ethereum a blockchain like Bitcoin, has more functionality like smart contract creation.
Like with most blockchains, which is a ledger, Etherium allows users to send computer code on top of the currency.
This allows users to use the blockchain as a virtual computer with nodes around the world.
Many decentralised applications or commonly known as Dapps have been developed on the Ethereum blockchain, most of them funded by Initial Coin Offerings and they reward investors with tokens.
These dapps are created on transparent code that are stored in the Ethereum blockchain and are activated by transactions.
Decentralised Virtual World
There are alot of dapps that have surfaced since Etherium was introduced which allows users to provide services in exchange for Etherium.
The Devs behind Decentraland have an awesome idea, creating an open, virtual world controlled by the users.
Members / Users can explore the world in 3D by either using their VR headset or PC controls in a web interface.
The world is made up of 10mx10m tiles, each of them containing its own coordinates and hash.
Users can buy plots of land with what they are calling MANA, this is a ERC20 token built on top of Etherium. Its value is measured in Etherium.
After purchasing your land, you can create anything your heart desires on it, including games, shopping malls, casinos and more.
This world with will support numerous graphic engines for rendering and the use of custom scripts which means the there are no limits on what you can create.
P2P will also be added allowing multiplayer and ingame communication allowing users to host services free of charge instead of the company charging for them.
More information
I have included a link to the whitepaper and a video below.
Exciting times!!
You can download the white paper here
