We hear a lot of discussion if cryptocurrency is real and whether it will be a passing fad. Many talked in the past about the potential of blockchain yet not what cryptocurrency does. Sorry, but the two are linked in a basic way that is going to be proven going forward.
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The concept of the Metaverse is suddenly garnering a great deal of attention. This is something that many are projected to be the "next Internet".
As with any concept, the projections as well as definitions can vary. So the challenge is to understand what someone means when they refer to the Metaverse. There are also different timelines to consider.
For example, some discuss the Metaverse as a present situation. While there are some pieces starting to form, it is not likely we have it at this stage. The same could be true by the middle of this decade.
The most probably scenario is that the Metaverse will take a few decades to unfold. At the core of this is computater processing and communication networks.
Here is where blockchain could enter the picture.
Virtual Worlds
Many know about the discussions about Virtual Worlds. The Metaverse is going to be a place, ultimately, where it is impossible to distinguish between what is "real" as opposed to virtual.
Over the last 30 years, we saw incredible advancements in computer resolution as well as speed of transmission. The progress in communication systems allowed for the develop of online gaming with low latency.
We also saw increased capabilities of both cloud systems as well as the gaming units themselves. Add in different hardware and software configurations and the industry saw a massive shift forward.
Unfortunately, there seems to be a barrier we are coming upon. While the industry will get passed it, there are many approaches being discussed. At this time, there is no clear cut answer.
The issue is that virtual worlds are going to require a lot of computational power as well as reducing the latency way down. Many question whether we can go much further with the present configurations.
While some applications can get by with high latency, such as a conference call, many cannot. A game, for example, might see the difference of 10ms determining life or death. This has huge consequences with a #Play2Earn situation.
Ultimately, for us to create virtual world that are experiential to the degree that we see in real life, it is going to require a great deal more advancement than what we have now.
Edge Computing
Edge computing is something that many feel is part of the solution. Instead of relying solely on massive server farms, we can utilize the power of computing that is out there.
Again, we see debates about how this can be achieved. Apple™, as an example, believes that putting more power in the IPhone is the path to getting the computation that is required.
This concept would address the two major issues of computation and latency.
Here is where blockchain and cryptocurrency are so fundamental. It is a concept that the SpkNetwork is looking at utilizing.
Essentially what we are referring to is decentralized computing. Instead of going massive, we go small but with many. This resolves some of the latency problem if the power is coming from relatively close by.
We also see the availability of unused processing. Since there is such a great need for it, why not access what is out there. Today, there are billions of devices around the world. In a decade, this number could grow to hundreds of billions.
As more items have processors put in them, we can utilize this excess processing capability for powering the Metaverse.
Blockchain and Cryptocurrency
Why would anyone do this? While there are a few who like to do things for altruistic reasons, the reality is most will not simply want to offer up computational power for nothing.
Here is where blockchain and cryptocurrency enter the picture. Through these technologies, we have the ability to incentivize people to offer up their excess processing. This could go a long way to resolving these issues.
Can this be a pathway to an unlimited number of players in a game or fans at a concert? Some believe that is the case.
We already saw some efforts in this areas with SETI@home and Folding@home. Both of these are distributed computing platforms that utilized processing power from all over the world.
The key is developing a marketplace for processing power. While some will offer it up for good causes, the Metaverse might be powered by billions of devices that are rewarded for the processing they conduct.
What we are looking at is a time where a device that is on you is able to perform tasks for the network (and those around you) while you are just going about your day. For doing this, tokens will be earned in exchange for the processing power.
Of course, consider that it is likely in the future you processors in your clothes, shoes, glasses, and whatever else people will think up. Couple this with all the devices in your home and we can see how this will really increase the processing power that is available.
An Entirely New Economy
As we can see, this will serve as an entirely new economic foundation. Automated money making will be in the hands of everyone. Since each person on the planet will have multiple processors, they can be earning 24/7. Anytime additional processing is needed, especially locally, tokens rewards will be received.
What we are dealing with here is not likely optional. This is going to be a part of the foundation of the Internet. We will not depend solely upon large corporations with massive server farms to provide the bulk of the processing. There is simply no way to reduce the latency across the entire planet utilizing such as approach, at least according to many.
The goal is to get as much processing localized as possible. Since there is already computational power not being utilized, this will serve as a mecca to tap into.
We see this idea already forming with the road map of the SpkNetwork which is being developed by the team behind @threespeak. Their plan is to construct a *distributed storage network" which utilizes the excess space on computers all over the world. For this service, participants will be rewarded in tokens.
It will form the basis of the platforms developed.
What we are seeing now are the building blocks for the Metaverse. This is going to take decades to unfold fully. However, it is important to note that all of this is part of a much bigger expansion. It is easy to look at blockchain and cryptocurrency is isolation. Yet, when we take within the context of the larger picture, we see where these technologies are an important part of the next generation Internet.
When framed this way, we can see how the views of many in the establishment are simply laughable. This is much bigger than they can imagine.
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