Comprehending the metaverse ETP blockchain ecosystem
Many cryptocurrency coins are developed in the market but are mostly unpopular due to the myriad of similar cryptocurrencies available in the market. the blockchain technology has occupied or not of domains due to its amazing implications within the cryptocurrency market. HR industry, Healthcare, Supply Chain management, the electoral process, are only some of the handful of them which the Blockchain Technology has taken into account. The cryptocurrencies are been banned or rejected or accepted in various countries across the world, but the blockchain technology is accepted with open arms as they have realized its potential.
Metaverse ETP is one such cryptocurrency Blockchain platform which aims to revolutionize the financial domain by considering the digital identity as well as digital assets. The authenticity, as well as a security of the digital identities or assets, would be provided through a store of value. The main idea behind the project is that, as more number of people have online Communications rather than one to one personal interaction, the community believes that, in future, a whole new economic model would be developed across these digital identities and the internet of information would be converted into the internet of value in the future.
Metaverse ETP is absolutely synonyms to the counterpart provided by the China’s version of the Ethereum blockchain but the only difference with the metaverse ETP blockchain project is that it is concentrated predominantly upon the smart assets rather than smart contracts. The consensus mechanism of the blockchain project comprises of 2 stages, the first one being the traditional Proof of Work consensus mechanism, followed by a Heartbeat Token Height Delegated Proof of Stake concept.
Consensus mechanism applied in two stages
1. During the first few years of the Metaverse ETP operations, the Proof of Work consensus mechanism would be into action where mining the metaverse ETP coins would be possible through the GPU mining rigs. The metaverse ETP coins, at this stage would be incorporating the Ethash algorithm in order to secure the transactions.
2. After which the second phase of the metaverse ETP tokens would come into the picture where the delegated proof of stake model would take over the control, it is estimated by most of the cryptocurrency professionals that, this particular implementation would automatically attract a number of problems as well as vulnerabilities. According to this model, a huge amount of metaverse ETP losses or hacks can be expected, as once the community members have chosen a delegate, they no longer have any kind of participation with the Blockchain.
The ETP tokens
The ETP tokens where prominently named after one of the most important thermodynamic principles, Entropy. An entropy is basically defined as a measure of disorderliness of the particles within a system. Being a utility token, the ETP tokens are predominantly valuable within the metaverse ETP Blockchain Eco ecosystem only. The ETP tokens inherently have no intrinsic value, therefore no initiation can be expected, but due to the accidental losses of the ETP tokens as a result of miss management of the users, the total number of ETP tokens in circulation is expected to decrease, indirectly increasing the prices.
Fee and rewards
If the user needs to register a new Avatar, create a Digital identity, or act as a third party intermediary then they need to pay a certain amount of transaction fees to the metaverse ETP blockchain ecosystem. According to statistics, it is revealed that a user receives a block reward of almost 3 ETP tokens. However, a 5% decrease in the block reward is fixed for every 300,000 metaverse ETP blocks mined.
The metaverse ETP Blockchain platform with ETP tokens seems to be very futuristic in nature, and hence one can opt for long-term investments in the cryptocurrency platform. A highly experienced team along with a successful roadmap is highly rare within this vulnerable cryptocurrency space, therefore, the ETP tokens are one of the best options that the cryptocurrency enthusiasts might be looking out for. Bitfinex is one of the most reliable cryptocurrency exchange dealing with the ETP tokens, and the users are also recommended to buy the ETP tokens from them.