Blockchain and the Metaverse

The rabbit hole of blockchain technology can be an exhausting adventure. There’s so much to learn and research to complete before you can feel confident in your knowledge of this incredibly complex process. Luckily, help is on the way! This article will introduce you to the incredible world of Blockchain and the Metaverse.

Blockchain technology is emerging and is becoming one of the most in-demand skills in the tech industry. According to a 2018 PwC survey of 600 executives from 15 different countries, 84 percent of those polled stated they were adopting blockchain in some capacity. With all the hype around cryptocurrencies and the potential of blockchain to revolutionize the way we do business, it’s easy to get caught up in the excitement, making it seem more complex than it actually is. Since its creation in 2008, blockchain has gone from being a niche technology to a mainstream phenomenon. Multitude books have been published on the subject, and thousands of companies are deploying or testing blockchain solutions. In 2021, the global blockchain technology market was estimated at USD 5.92 billion, with a CAGR of 85.9% predicted from 2022 to 2030. The increased venture capital investing in blockchain technology startups can be ascribed to the market’s growth.

Blockchain technology is what underlies cryptocurrencies such as Bitcoin. It’s essentially a distributed database where anything of value can be stored and transferred over the Internet. Thanks to its potential to redefine many industries, it’s quickly becoming the hottest technology in computer science, providing more transparency and reliability. The technology is poised to completely change how people and businesses understand money and payments, supply chains, and even government services such as identity and voting. Blockchain has been defined in many ways, but most importantly as a distributed ledger that uses Cryptography, i.e., a very secure method of storing and transferring data, with no need for outside verification or approval. But much more than just a database technology, it also acts as an execution platform for “smart contracts” computer programs that have the ability to enforce, monitor, and facilitate all kinds of contractual provisions and agreements.  Read More...

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