Can MetaCryp be compared to Ethereum Blockchain and Binance Smart Chain? – Crypto mode
It seems that 2022 is the year of the Metaverse, everywhere you look, from Facebook changing its name to Meta to Microsoft promising next-gen consoles similar to Ready Player One.
Almost everyone wants to jump on the virtual reality bandwagon, and there are good reasons. It’s not every day that you find a place that brings together different things under its umbrella, ranging from gaming, finance and social media to political entities and out-of-this-world experiences.
However, a grand vision of this magnitude requires a lot of computing power to maintain such a colossal leviathan.
Until recently, many believed that Ethereum (ETH) – an open source, decentralized blockchain complete with smart contract functionality – would be the titan to assume the foundational role for the Metaverse’s subsequent evolution.
But as always, with crypto, other mechanical beasts are ready to strike you from the darkness and steal your crown. As such, MetaCryp (MTCR) is a new crypto project and is already making headlines as expert traders expect it to become a market-leading blockchain.
Consider building on Ethereum (ETH)
In the original concept of Metaverse, anyone can seamlessly transfer data and values across many platforms securely, transparently and at maximum speed.
Although much of this vision is already being built on platforms like Ethereum, which allow financial transactions and other forms of experimentation with code, as well as the development of DApps (decentralized applications), there is a pitfall lurking among the deep corners of blockchain networks.
Currently, Ethereum cannot scale to meet the growing demands of the Metaverse (even in hibernation).
This process is further complicated because nearly 80% of all NFTs are built on the Ethereum blockchain, and nearly 70% of all DeFi DApps, in one way or another, are also connected to Ethereum (ETH).
Consequently, all of the aforementioned factors cause network congestion, resulting in low transaction speeds and notoriously high gas fees. Yes, with the long-awaited Ethereum upgrade “The Merge”, moving away from Proof-of-Work (PoW) to Proof-of-Stake (PoS), the problem of speed and cost will be solved. However, it will take years, perhaps even decades, for “The Merge” to reach its full potential.
What benefits can you get with Binance Smart Chain (BSC)
In early April 2020, the largest exchange in the world, Binance, introduced the Binance Smart Chain (BSC) to enable DApps development with greater capacity, faster speeds and lower latency than Ethereum.
While Ethereum currently uses PoW and is in the process of transitioning to (PoS), BSC decided to use (PoS), or rather a slightly modified version called Proof of Staked Authority (PoSA).
This means in practice that, unlike many other chains, the transaction fees received by validators come from the existing supply of (BNB), not from newly minted BNB.
This makes BNB deflationary and the Binance team regularly burns a portion of its supply.
According to Binance, the burns will continue from the initial maximum supply of 200 million until (BNB) supply reaches 100 million. Overall, even after “The Merge” comes, BSC will remain a faster and cheaper option.
Why MetaCryp (MTCR) is revolutionizing the cryptosphere
MetaCryp is an upcoming project that plans to combine Metaverse, NFTs and Play-to-Earn (P2E) games under one ecosystem. The range of services it intends to use is truly impressive, considering that it will spawn from various P2E game modes, where players will be able to buy, sell and trade their in-game items represented as NFTs, to almost surreal immersive experiences .
On top of that, players will be able to build their own “bubbles” in the larger Metaverse, where people can meet based on their interests and political views and even rent, sell and trade plots of land, similar to the Sandbox game, but with more options to earn passive income.
The central idea of MetaCryp Network is to encourage players to compete for (MTCR) token, in-game assets or NFTs to make a big bank.
This in turn makes the game of the MetaCryp Network structured around various game activities, which causes the accumulation of (MTCR) tokens, which are also a central medium of exchange across the Metaverse. This means that the more (MTCR) tokens you have, the better you are integrated with the ecosystem.
Ethereum (ETH) is undoubtedly a titan that is not going anywhere. However, with its current limitations (speed and transaction costs), it makes more sense to use alternative blockchains like MetaCryp (MTCR) to build the future of the Metaverse, at least for now.
Join MetaCryp (MTCR)’s presale:
Advance sales: http://presale.metacryptoken.io/
Website: http://metacryptoken.io/
Telegram: https://t.me/MetaCrypOfficial
Always do your due diligence when dealing with currency and token pre-sales. The above information does not constitute investment advice from CryptoMode or its team, nor does it reflect the views of the site or its staff.
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