As a Layer-2 scaling solution, ACENT will soon launch its own metaverse platform, which will provide users with an exceptional blockchain experience. Discover how ACENT provided a value-added solution to the metaverse.
In our minds, the metaverse is the next generation of the internet, allowing people to do real-world activities such as work, shopping, leisure, banking, finance, and others within the metaverse land.
By 2024, the market for metaverse projects is expected to grow to $800 billion to $1 trillion, a figure that is currently estimated to be $47 billion to $500 billion.
The steady increase in metaverse users is expected to cause network congestion, eventually leading to higher transaction fees.
Sandbox and Decentraland are metaverse platforms that have been built directly on top of the Ethereum blockchain, which is already a fully loaded network. As a result, they can only offer a basic user interface (UI) and digital environment to their users. They also have relatively high transaction fees and some delays in their NFT processing.
Building the metaverse on the Ethereum mainnet (Layer 1) would most likely address security but not scalability due to its low throughput of only 17 transactions per second (TPS), potentially resulting in extremely high gas fees.
As a result, a brilliant solution to run the Your Earth DAO metaverse was proposed: a second layer protocol that would address all inefficiencies in existing metaverses.
ACENT as a Layer 2 solution to the metaverse
Most Layer 2 solutions are built on the Ethereum network blockchain. They relieve Layer 1, which is the Ethereum network, allowing for faster transaction speeds. As a result, there is a lower gas fee while maintaining decentralization and security. Immutable X, Polygon, and Polkadot are just a few notable examples of Layer 2 solutions.
The ACENT blockchain technology, which is also based on the Layer 2 technology of the Ethereum network, will provide the following capabilities to the Your Earth DAO metaverse:
- High-performance application rendering – ACENT blockchain is capable of rendering immersive gamified web applications redefining the web experience as we know it. Heavy resource dependent applications such as Triple A gaming titles can be installed, launched, and synchronized with its blockchain thanks to its unique ODIN technology.
- 100% compatibility with decentralized applications – this allows users and developers to import Ethereum-based decentralized applications (dApps) into Your Earth DAO metaverse. Users will be able to create their own NFTs and deploy them on the metaverse platform without having to change their codes to deploy their decentralized applications to the Your Earth DAO metaverse.
- Ethereum gas fee is lower – Because Nitro fees is relatively inexpensive in Layer 2 solutions, users can enjoy value exchanges of their digital assets and NFTs as frequently as they want.
- Fewer validators equals faster transactions – ACENT’s Proof of Authority (POA) consensus mechanism validates the chain coming in the blocks with only a few validators. As a result, it will not only have lower transaction fees, but it will also have one of the fastest Layer 2 solutions on the market.
- Reduces scalability issues – The ACENT blockchain will be able to process NFT and crypto exchanges at a higher number of transactions per second (TPS) of 400-500 TPS, which is faster than the Ethereum chain with an average of only 17 TPS.
- Promotes Decentralized Autonomous Organization (DAO) – DAO is a Layer 2 feature of the ACENT blockchain technology which provides Your Earth DAO users the capability to vote on issues (whether big or small) that may affect or improve the governance of the platform.
- Protects NFT digital assets from hacks – three main reasons why the system is highly protected: i) ACENT Mainnet is deployed on high availability, high performance network that is financial certified server; 2) it has two-layer, end-to-end service protection for Distributed Denial of Service (DDoS) attack; and 3) all web servers are protected by Secure Sockets Layer (SSL) which means it uses “encryption algorithms to scramble data in transit, preventing hackers from reading it as it is sent over the connection”.
Read also Here’s why Acent will take the blockchain metaverse ecosystem by a storm in 2022
The Your Earth DAO Metaverse
The Your Earth DAO metaverse is a high-resolution life-business platform that aims to provide a wide range of life-enriching services within the metaverse. Each square of land on Your Earth DAO is built on NFTs and can thus be traded on an NFT marketplace such as Opensea.io or its native soon-to-be-released DAPPX marketplace.
Each NFT in the Your Earth DAO platform is backed by a secure smart contract that has been deployed in the ACENT Layer 2 blockchain solution. In order to protect the smart contract, it is stored in a multi-wallet that is highly secure and can store any type of digital asset – the Osiris Metawallet, which is discussed in more detail below.
It is also true that the metaverse environment on Your Earth DAO is built using the Unreal Engine 5, which provides users with a realistic metaverse experience. As a whole, the space itself is interoperable and can support a wide range of decentralized applications.
Not only that, but ACENT as a Layer 2 configuration would also allow users of Your Earth DAO to deploy applications on their metaverse Square of land, which would be a significant improvement in the metaverse world. This will be allowed during the meta-application phase of Your Earth DAO’s metaverse.
The ACENT cryptocurrency and Metawallet in Your Earth DAO Metaverse
The ACENT (ACE) will be used as the utility cryptocurrency in most of the transactions within the Your Earth DAO ecosystem.
Among its various use cases inside the Your Earth DAO metaverse include but not limited to:
- trading of NFT lands;
- purchasing of pylons that could mine NFT resources which can be used to build digital assets;
- building infrastructure such as functional virtual real estate for the purpose of earning compensation through renting out, reselling, or deploying businesses;
- deployment of builds and generate foot traffic that equates to ACE compensation;
- trading of NFT digital assets and digital works of art;
- earning rewards through its unique DAPPX pledging system;
- advertising their businesses;
- Nitro fees or gas fees for all cryptocurrency transactions; and
- other rewards-based projects that could come up in future.
In fact almost every business in the real world can take advantage of duplicating it in Your Earth DAO metaverse. Through the ACE cryptocurrency, users can build their own project, avail a global corporate promotion, and even grow their businesses globally as they attract users from different countries in the metaverse. All this by taking advantage of the underlying ACENT blockchain services such as:
- support for building your own blockchain project ecosystem;
- use ACENT-based coin issuance (ARC-20-based) in business transactions;
- avail DAPPX as a Launchpad and its various event benefits;
- take advantage of Acent decentralized exchange (DEX); and
- use its NFT marketplace to sell NFT products.
The ACE can be securely stored in the Osiris Metawallet, which is a multi-crypto wallet that allows users to send and receive cryptocurrency in ETH, TRON, ACE, and, more networks to be supported in the future.Not only does the Metawallet work with Your Earth DAO, but it also works with a number of other Ethereum-based dApps.
At the heart of the seamless transactions in the Your Earth DAO metaverse is the OCEAN technology, which stands for Osiris Crypto Engine ACENT iNterface.
Other benefits of OCEAN technology in scaling Layer 2 solutions in Your Earth DAO’s metaverse include:
- simplifying crypto transactions by allowing a decentralized exchange service inside the Your Earth DAO metaverse. Because of this technology, users no longer have to send funds back and forth to an external exchange which could cost the user some tokens for transaction fees or from the volatility of crypto price;
- accept seamless payment exchanges from any cryptocurrency through Payment Processor Snippets (PPS) feature of the Osiris Metawallet;
- support ease of purchase through credit cards or conversions of ACE crypto to other cryptocurrencies. An Exchange API would register the live rates of ACENT crypto within the Metawallet for purchase; and
- an SSO (single sign on) capability that will allow users to log in once in all decentralized applications in the ACENT ecosystem using a single credential for authentication.
There is no doubt that the Osiris Metawallet, built on Layer 2 blockchain technology, will not only be one of the fastest multi-crypto wallets on the market, but also one of the most secure multi-crypto wallets.
Final Words
ACENT Blockchain technology is at the heart of the development of the metaverse. To get the most out of the metaverse experience, one must consider the blockchain technology that powers the platform.
ACENT, as Your Earth DAO’s underlying Layer 2 blockchain technology, will provide efficiency, security, and compatibility of the platform with all other decentralized applications. The fast transactions and low Nitro fees will allow users to maximize and grow their ACE on the platform.
Moreover, since the platform is compatible with other Ethereum-based applications, users and even game developers can let their creativity flow in the platform as they develop or import applications within the Your Earth DAO metaverse.
And who would not be excited to experience a high-performing immersive metaverse that has fully functional tokenomics? It will outshine the existing metaverse with simple graphics.
This and much more awaits any user looking for a different kind of metaverse powered by ACENT blockchain technology.
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