Understanding the working paradigm of the decentraland coin.
Intro
it is estimated that, there are about more than 1500 variety of cryptocurrencies to choose from. Therefore, it is self understood that all currencies must not be based on a single real-world practical problem but would be applied for various other domains including supply chain management, election process, virtual reality, decentralized cloud storage system, Healthcare, etc. In a nutshell, the blockchain technology revolutionizes, fields apart the financial sector as well. Who had predicted such advance and widespread cryptocurrency the main that exist today? Even Satoshi Nakamoto, would be very proud are observing his initiative getting transformed into a Worldwide inspiration to the people for a better and decentralized future. Let’s read about decentraland coin and what is it worth?
Introduction to decentraland coin
Decentraland coin is one of the cryptocurrency projects among the many others available in the market. Decentraland coin prominently aims to integrate the amazing potential of the Blockchain technology with the virtual reality. The cryptocurrency project was one of the most awaited one. The initial coin offering for the Decentraland coin was initiated in August 2017 and for your kind information the blockchain project raised 24 million dollars in a matter of mere 34 seconds. This is a living example for the power of the online way of crowdfunding through initial coin offering. The Blockchain Technology has undoubtedly improved or simplified the workload for the entrepreneurs in the process of bringing their vision into life.
How is decentraland coin useful?
The decentraland coin project provides an environment to the users in order to buy or sell virtual assets created by the virtual reality technology. Virtual assets can be bought or sold by incorporating the decentraland coin in a very fair and tangible manner. Even the decentralized coin is based on the most popular Ethereum based, ERC 20 protocol which enables the customers to treat it, just like any other similar Ethereum based coin. Most interestingly, the decentraland coin project enables the developers from all over the world in order to create a customised environment within itself. The developers can also exploit the decentralized coin project in order to monetize their businesses.
What are the various developmental stages of the Decentraland coin project
1. However, the Decentraland coin project was initiated in the year 2015 where the virtual world consistent consisted of financial assets developed on a two-dimensional grid of pixels where each pixel is designated with its pixel color along with the owner of that particular asset. However, this developmental stage of Decentraland coin was also termed as the ‘Stone age.’
2. Followed by the Stone age, the developers at the decentraland coin, were finally capable of releasing an update in late 2016, which they intuitively named as the ‘bronze age.’ This particular range sequence of the decentraland coin project marks the initiation of a 3-dimensional financial asset, that can be linked to its owners in a very seamless manner.
3. The next update in the virtual world of the decentraland coin project was released in the year 2017 with the name termed as ‘Iron Age.’ In this particular update, a complex socioeconomic blend was initiated where the financial assets passed through a number of owners. It was in this particular range, that the developers were enabled to develop custom applications, in order to run them in the virtual world.
4. The Blockchain developments, for the virtual world, could open opportunities for extensive three-dimensional as well as the virtual reality best environment. Also, the laws of Physics would be made applicable in this particular update, which is termed as the ‘Silicon age’ and expected to be released sooner in 2018.
Specifications of the virtual world
MANA is the traditional cryptocurrency token for the Decentraland Coin. The Blockchain platform can be incorporated in order to buy or sell the various digital assets available in the virtual world. An unclaimed land would have the same market pricing on every exchange possible and precisely the developers are on a hunt for such since as they can build on top of it, and attract lot of popularity. However, one must keep in mind that the land parcels are different from them and each one of them varies according to the various market conditions of that time.
Closing remarks
The decentraland coin, Mana can be a great investment and can be bought by trading and with other Bitcoin, Ethereum, or any other prominent cryptocurrency and on some of the most notable cryptocurrency exchanges. Specifically, Binance and Huobi are two of the best cryptocurrency exchanges that one can suggest for this particular Decentraland coin Blockchain project.
