Technology

The Metaverse as the Future of the New Digital Economy remains an ongoing topic of discussion in recent times. A Metaverse is a form of digital reality that blends elements of online gaming, social media, Augmented Reality (AR), Virtual Reality (VR), and Cryptocurrency that allow users to interact virtually.

The New Digital Economy

“Metaverse” is the term used to describe the virtual Universe. Metaverse was first used in Neal Stephenson’s 1992 science-fiction novel Snow Crash.

Humans, acting as avatars, communicate with one another through software agents in a 3-D virtual space that uses real-world metaphors.

The existence of the Metaverse lets us take part in activities such as going to virtual concerts, traveling on the internet to create or view artwork, and trying on digital clothing to purchase.

Metaverse offers a massive opportunity because we can use it in various areas, including Indonesian tourism and education, social trade, and many more areas.

Metaverse Development Globally acquired attention from the public to begin when rumors circulated mid-October 2021 concerning Facebook’s new branding.

Furthermore, Facebook President Mark Zuckerberg announced the change of the name of Facebook to Meta and is focused on creating a virtual reality that combines Virtual Reality and Augmented Reality technology in the Metaverse.

In the meantime, Microsoft, as a software giant, has also utilized the hologram and is working on mixed – and Extended Reality (XR) applications through Microsoft Mesh.

Microsoft Mesh platform will result in the future blending the real world with Augmented Reality and Virtual Reality.

In addition, many international artists like Snoop Dogg, Huang Heshan, and JJ Lin are currently buying digital assets on Metaverse. Also, artists are holding virtual shows on Metaverse like Justin Bieber, Twenty One Pilots, and John Legend.

Many interactive games, like Second Life, Fortnite, Minecraft, and Roblox, can also bring excitement to the realm of the Metaverse, where users can collaborate, participate in events, or even trade real-world currency to purchase virtual currency products and services in the new digital economy.

Many people search online whether Polygon compatible with Ethereum or not. Polygon (MATIC) is a Blockchain project that could be defined as everything Ethereum 2.0 wants to be in the future.

It is a product that allows us to deal with the problems of scalability and commissions that Ethereum presents at times of high demand for use.

Polygon, formerly Matic, was an idea developed by Jayanti Kanani, Sandeep Nailwal, and Anurag Arjun, who decided to come together to create a side chain that would serve as a solution to Ethereum’s scalability and usability problems.

Is Polygon Compatible With Ethereum?

To achieve this, Polygon used Plasma and a structure of nodes that would have control of a side chain running on the Proof of Stake (PoS) protocol, the same one that would drive ETH 2.0.

Additionally, the network has a fully compatible implementation of the Ethereum Virtual Machine and its Solidity language, allowing devs to port their dApps from Ethereum to Polygon easily.

This way, any Polygon user has two-way access to the Ethereum ecosystem without struggling with Ethereum’s growing fees and issues.

The development of Polygon saw the light on May 19, 2020, and that day the history of this sidechain began.

Since then, the MATIC token has gone from a minimum of €0.003012 to an all-time high (December 27, 2021) of €2.92. Despite the current bear market, Polygon’s MATIC token is holding firm, priced at €1.55, thus underlining its importance in the crypto markets.

Large Projects Within The Polygon Ecosystem

1inch Project

1inch is a DEX created in May 2019 by Serjez Kunz and Anton Bukov, two Russian developers who specialized in smart contract auditing.

This DEX works based on a protocol deployed both on the Ethereum and the Polygon networks. The objective is to make the exchanges in it cheaper and faster.

1inch is a particular DEX because its operation depends on dividing the exchange order that the user receives among the different DEXs that it uses as liquidity feeders. For example, if you want to exchange ETH for WBTC, it takes your trade order and splits your order between the different DEXes it has indexed (Uniswap, Kyber, AAVE, Bancor, Curve, Compound, Yearn, among others).

The primary tool to achieve this is the Pathfinder algorithm. This algorithm analyzes the different pools available in those DEXes to carry out the exchange you are looking for.

By analyzing all the information, Pathfinder is responsible for completing your order in the best possible way. It does this by simulating the slippage price for the given order and calculating the cost of gas and other fees for the trade.

This process is repeated in each of the DEX consulted (which can be up to 12 at the same time). In the end, a comparative table is created to offer you the most optimal exchange solution taking into account:

The exchange that offers the best price.
The lowest cost of operation and commissions.
It also can create proprietary liquidity pools within 1inch for intra-platform trades. It has advanced trading features such as creating limit orders for more precise handling of trade orders.

Curve Project

The Curve is a DEX that works based on an AMM protocol, allowing the efficient exchange of stable coins. In January 2020, Curve allowed users to trade between stablecoins with low slippage, a low-fee algorithm explicitly designed for stablecoins and earning fees.

Behind the scenes, the tokens held by the liquidity pools are also fed to the Compound or earn finance protocol, which generates more revenue for the liquidity providers.

Currently, there are 7 Curve pools: Compound, PAX, Y, BUSD, sUSD, ren, and sBTC, supporting an exchange for a wide variety of stablecoins and assets. Currently, Curve does not have a native token.

However, the team plans to release a CRV token eventually. Each Curve pool has its ERC20 token. The Curve is considered one of the largest DEXs globally, ranked second by TVL, with a value of $11.32 billion. The Curve can be fully used in the Polygon network.

Jellyswap, Atomic Swaps Over Polygon

One of the Polygon ecosystem’s lesser-known but more practical projects is Jelly Swap. Jelly Swap is a decentralized exchange (DEX) that can perform cross-chain atomic swaps, allowing users to exchange cryptocurrencies directly without any intermediary.

An excellent example of this utility is performing cross-chain trades, such as Avalanche, Bitcoin, Ethereum, Harmony, Binance Smart Chain, and Polygon.

You can connect your Bitcoin wallet and use Jelly Swap to exchange it for Ethereum, with no KYC or centralization.

The Sandbox, A Metaverses In Polygon

Polygon also has a presence in metaverses built on the blockchain, and the Sandbox is one of his star projects in this regard.

The Sandbox is a virtual world built on the Ethereum blockchain that runs on the Polygon network. It is a metaverse where gamers can create, own and monetize their gaming experiences.

The utility token of the platform is known as SAND. It is one of the fastest-growing metaverses in the blockchain ecosystem.

The Sandbox provides all the tools to create your world and represent everything utilizing NFTs and rewarding them with the utility token SAND.

Today’s gaming, ownership, and centralized control limit the rights and ownership of users when creating their virtual worlds.

Sandbox is built on a Voxel platform where creators can create, play, share, collect, and trade without central control, enjoying secure copyright ownership while gaining the ability to earn cryptocurrencies (SAND).

This article will explore the Metaverse Professions that will play crucial roles in our daily lives. The Metaverse, as defined by the perceptional universe created by technology that can create a virtual reality without much effort on physical objects, is the latest favorite among technology giants.

As per some analysts, it is believed that the world of Metaverse is expected to integrate into our daily lives shortly and will create new business and work opportunities. What are those careers?

Metaverse, which is defined as the permanent, online 3D virtual spaces created by virtual and augmented reality gadgets and is also referred to as virtual universes, is frequently the subject of critiques and is frequently debated in economics.

The Metaverse is a digital world in which the real and virtual meet in a sci-fi vision allows users to switch between devices and interact through a virtual space, creating new job and career opportunities, according to some job experts.

In the article published on a job website, He also shared professions that will be attracting attention in the Metaverse of the digital universe shortly. Sure, these are well-known, and others will be seen in the very first place.

Metaverse Professions Role in our Lives

Here are some occupations:

Virtual Property Expert

Metaverse can also fulfill the requirements of both individuals and businesses, like houses, virtual land, and stores.

Virtually-located lands in the Metaverse universe could lead to an economic model for real estate. They could result in creating a new job description for a virtual estate agent.

Risk Management Specialist

The Metaverse universe will also incorporate investment tools like bitcoin, blockchain, and NFT. Experts in risk management will increase in importance in investing in investment instruments using innovative and digitally-based technological structures.

Risk management specialists will be accountable for evaluating financial risks that could affect the individual or company in the Metaverse.

Blockchain Experts

Developers, experts, and blockchain specialists will be key players in public and financial services and private technology companies, e-commerce, and marketing.

The experts will also be looking for ways to improve the Blockchain and be more efficient for users of the Metaverse.

Digital Detective

Storage, processing, and security concerns in the digital world will become more critical for individuals and companies. Experts in this field will be required more in the cyber world.

Vr Game Design

Online games attract attention due to the increase in players and the enormous economic impact they bring to the table each year.

Alongside the Metaverse universe, Game designers will be in high demand, particularly those who develop prototypes for VR (Virtual Real Reality) built games, create and share them with the players.

Digital Sales Expert

Metaverse offers applications that allow you to sell, market, and generate revenue for both individuals and brands.

There is also a demand for sales professionals and sales representatives within the Metaverse, with whom we can communicate in the real world, particularly in retail stores.

The sales representatives-experts in physical stores will also work in the digital universe with their avatars.

Cyber Security Specialist

As the world gets more digital, cybercrime is one of the most significant threats to businesses, individuals, and government agencies. It will be as crucial as safeguarding the physical security of businesses or individuals.

Cyber security is a Metaverse that will continue to grow throughout all aspects of our lives, and every business will be an expert in cyber security soon.

Metaverse Professions as Marketing Manager

The new areas of work are added to the description of the jobs of marketing executives. Moreover, through utilizing Blockchain and cryptocurrency technologies, marketing managers will be able to identify potential users, track their progress, and create strategies to assist companies in maximizing their market position.

Technology is an integral part of human life. Thus, Metaverse Development is significant for the human experience.

The Latest Metaverse Development

Thanks to this technology, life is more straightforward and more practical. But, one technological advancement hasn’t been discussed before, and it was not until now.

When the social media site Facebook announced they had changed their names to Meta to make the Metaverse more efficient, Bill Gates – the creator of Microsoft is also predicting this brand new technology shortly.

Gates says that it will become a source of curiosity to the majority of people in the coming three years. Human activity shifts into the world of fantasy.

According to Gates, the pace of technology is only just starting. The virtual experience will be completely different and more refined, yet simple to experience.

President Jokowi has also mentioned the existence of the Metaverse during his speech. “He said to me that in the next 10-15 years, there will be something similar to playing Ping-Pong.

Every person will be able to purchase virtual land, create their own virtual company, and there will be an online mall. Virtual gym, virtual office, virtual traveling,” he said.

The first to come up with the idea of a Metaverse came from Neal Stephenson, and Stephenson mentioned it in his novel from 1992, Snow Crash.

The most basic description Facebook provides about its Metaverse is that it is a series of virtual spaces where users can build and interact with others who aren’t located in the same physical space.

The Metaverse will be just as real and widespread as the web. If Epic Games founder Tim Sweeney was asked by CNN what he thought about the future of the Metaverse, he replied, “I thought it would take 10 years or more to get to this point; however, I believe the metaverse will.””

In the same way, Sweeney said, “A single company is not creating the Metaverse. It will be developed through millions of creators, each developing their version.”

In other words, the Metaverse is developing slowly, and everyone has a part to play in its development.

Tony Stark from Robert Downey Jr. Every time, the film features technology beyond imagination. There are several scenes with him in the Iron Man suit and getting details and images on his head-up screen (HUD) of what the man sees in real-time.

In most cases, it’s a new technology known as Artificial Reality (AR). In the film Iron Man, Iron Man film manages to show a small glimpse of how AR technology will transform into the Metaverse ecosystem.

When Will This Metaverse Be Utilized?

Microsoft co-founder Bill Gates foresees the digital world of the Metaverse within the next three years. Metaverse will grow and be utilized by a lot of employees of the office.

According to the Gates Office, meeting activities within the virtual realm of the Metaverse are expected to begin soon. It is a scenario that can be highly beneficial to workers who work remotely. The predictions are made on Bill Gates’ blog.

Additionally, one can be an avatar in the Metaverse. 3D avatar who can participate in meetings at virtual offices or for other functions. In addition, avatars can be able to interact with other avatars.

“You can make use of an avatar to interact with others in a virtual space that will allow you to experience the sensation of being in the room with others,” Gates wrote. However, Gates stated that users must wear headsets and virtual reality glasses to enable this.

Meta has been testing a Meta AI Prototype system that lets you create an imaginary world by the description.

It was announced in an interview with Meta Chief Executive Officer Mark Zuckerberg last week. The concept of the revolutionary technology is dubbed “the Builder Bot.”

Mark Zuckerberg Shows off Meta AI Prototype

Mark Zuckerberg’s avatar walks the viewers around a virtual world using Builder Bot in a recorded demonstration. Builder Bot.

The Facebook founder made instructions such as “let’s visit the beach” to show the background of a 3D animation that shows a beach with a sandy beach and water.

The video shows Zuckerberg additionally “creates” clouds by using sound. The clouds are then shaped according to specific shapes. For instance, tables, clouds, drinks, sound effects, and tropical music. Trees.

“This is all controlled in the hands of AI,” Mark Zuckerberg explained in the video posted on Meta AI’s YouTube channel. Meta AI YouTube channel, in a quote from the following day (28/2/2022).

Encourage Creativity In The Metaverse

According to The Verge, Builder Bot seems to use voice input to build 3D objects that users can interact with. Meta is aiming for more complex interactions.

“You’ll be able to build an immersive world that allows you to discover and share your experiences with other people using just your voice,” Zuckerberg said in his speech.

In a report from TechCrunch, Meta says on its blog that the prototype will “encourage imagination within the metaverse”; however it doesn’t provide any specifics about the technical aspects.

Beyond that, Meta also announced several additional projects like chatbots powered by AI, AI system card tool, and Universal Speech Translator.

The company states that the technology they created can offer instant speech-to-speech translations for all languages, including most spoken ones.

Instant Translator

In an online talk, Zuckerberg said, “The ability to communicate with any person regardless of language is a power that people long for, and AI will help make it possible in our daily lives.”

According to him, the languages commonly spoken, like English, Mandarin, and Spanish, are recognized by tools for translation; However, approximately 20% of the population cannot understand these three languages.

Meta has also thought that many languages that aren’t served possess a readily available textual source to teach AI systems.

In this regard, Meta said it wanted to tackle this issue with innovative machine learning techniques in two distinct areas.

The initial focus is No Language Left Behind or “no one left with a language.’ This method focuses on developing AI models that can learn to translate languages with more minor training instances.

The second third is Universal Speech Translator. The aim is to develop an application that can directly translate the spoken word in real-time from one another, without the need for a written component to act as an intermediary.