Filecoin is a Decentralized Storage Network that leverages both the IPFS protocol and blockchain technology. The Filecoin blockchain itself acts as an “incentive layer” that works on top of the IPFS. Although several other projects are attempting to use this technology, Filecoin is a project spearheaded by Protocol Labs, the creators of the aforementioned protocol.
Since their inception, video games have captured the imagination of both children and adults. With the invention of Pong in the 70’s and the evolution from 2D to 3D, video games have evolved to unprecedented heights. Virtual worlds are now more immersive than ever, and every year the difference between physical and virtual reality gets thinner. Although the technology still has a lot to evolve, virtual reality will definitely have its place in the future. We can be only a few years away from having an immersive environment so similar to the real world that it’s hard to tell the difference.
So, why not bring two of the most interesting pieces of technology today together? Decentraland is the first decentralized virtual world. It enables users to interact, create, share and monetize their own content in a virtual reality setting. The project is similar to social platforms like second life but, because of blockchain technology, it is able to skipe middlemen fees and offer lower prices. It also doesn’t have strict policies, making it possible for many applications to reach the market.
Decentraland first began as a 2D grid where users could own digital real estate on the blockchain, represented by pixels on the grid. Developers called this Decentraland’s Stone Age. In late 2016, it evolved to Bronze Age. Users are now able to own land parcels in 3D and each parcel was associated with a hash reference to a file. This file is where where the textures and models of the land parcel are located and it’s possible for users to download it.
The next version will be Decentraland’s Iron Age. Developers aim to add economy to the virtual land. Users will be able to create dynamic applications and monetize them to others, so not only will it be a distribution of land but of content as well. A payment system will be added to allow global, instant, and cost-eﬀective payments between any two users. Also, the entire social structure will be developed, implementing peer-to-peer communications with voice chat, positioning, postures, and other features.
What makes Decentraland different from web domains is the adjacency factor. Web domains can have an unlimited number of hyperlinks, that may not even be related or share a common topic. But the virtual setting of Decentraland offers a completely different experience. Users can explore the virtual world for content and discover districts devoted to a special topic or theme. This is great for users, they can travel themed neighborhoods or high traffic hubs, and for content creators, enabling access to targeted traffic.
Decentraland is powered by the Ethereum blockchain and will have two different digital assets: LAND, the scarce and non-fungible parcels of land of the virtual world; and MANA, and ERC-20 token that is used to make in-world purchases and also burned to claim LAND.
If done correctly, Decentraland has the potential to overthrow other social platforms and become a metaverse, an infrastructure to support a shared virtual world. It lets you create your dream world with a liberty that other social platforms simply cannot afford you. It will become the closest thing to the matrix yet, and if you’re dream was to create and live in your own world, with the possibility of even making some income out of it, Decentraland might be the experience for you.
If you want to learn more about Filecoin, visit the official website.