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How to practice decentralization in the metaverse?

How to practice decentralization in the metaverse?

Asked On2022-02-12 17:14:10 by:Sheethal-

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Since 2008, the entire world has been witnessing the tremendous disruptive power of decentralization as blockchain-based cryptocurrencies like Bitcoin came to dominate financial news, providing alternatives to government-controlled fiat currencies.

Decentralized finance, or DeFi, is a system by which financial products become available on a public decentralized blockchain network. DeFi wallets like MetaMask and Trust Wallet are open for anyone to use. Unlike when you go through middlemen such as banks or brokerages, unique identifiers such as a government-issued ID, Social Security number, or proof of address are not necessary to use a DeFi wallet, increasing its privacy and anonymity.

This revolutionary blockchain technology is helping address the privacy and data protection problems a centralized metaverse would inevitably be plagued with. 
Already, a host of decentralized metaverse projects are taking advantage of blockchain technology to deliver user-owned experiences that are resistant to censorship and interoperable with one another.

Answerd on:2022-02-13 Answerd By:Raj-Gupta

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