In the Metaverse, Blockchain and AI

What is Meta verse?

“Metaverse” is a term that refers to the “Metaverse” is a combination of the words’meta’ which means transcendence, virtuality and verse’, which is a backformation of the word “universe”. It is the Acceleration Studies Foundation (ASF) is a non-profit technology research institute, has categorizes the Metaverse into classifications: A virtual reality which is able to experience a flawless virtual story, a mirror-world which reflects the actual world and an augmented reality which showcases a blend of information that is augmented in the real world , and life logging that records and records everyday data about objects and people. As technology advances increasing the number of people who utilize the Metaverse is increasing and as the activities on the same scale as reality are being carried out, many and numerous pieces of information are generated. The metaverse data has value on its own. In the Metaverse the quantity of data grows, the value grows as well as the importance of security and reliability is growing. Blockchain technology is essential to ensure the security of the data in the Metaverse. Additionally, artificial intelligence is employed to protect the diversity and depth of the Metaverse. The content will be created in the order listed below.

The chapter will be based on the topic of the metaverse. We will explore the human inclination to create and create in the world of virtual reality, the process that occurs when the real and virtual merge in the virtual world and the security of data in the virtual world. Blockchain as well as NFT technology are described as trusted technology. The Metaverse platform that is built upon the technology is discussed. In essence, we will learn about the relationship between artificial intelligence and blockchain and examine the way in which a better world can be built by combining blockchain and artificial intelligence within Metaverse.

Virtual world and the need for creation

Human desire for creation

Humans are innately drawn to creating, and this creative spirit is one of the main factors that sets humans apart from other species of animals. Humans’ creativity is the reason why the culture has evolved. The 2004 paper defined the SeaCircle as the new idea of culture. it described the SeaCircle as a form of human culture to create. In the theory of the SeaCircle humans are spiritual beings and it is only humans that constitute the culture. It describes the components of understanding of culture. Based on the SeaCircle theory, creativity can be described as a component that is a part of Open Mind and Spirit.

According to the SeaCircle idea the Metaverse is space that allows people to become more involved in their creative pursuits by removing certain limitations regarding space and resources.

The connection between the virtual and real world

In recent times, the virtual as well as actual worlds have built in the convergence. In the First as well as Second Industrial Revolutions had the result of maximising efficiency by the division of labor, which meant that the production of material and the consumption of material were separated. The Third Industrial Revolution, as online transactions are carried out, data has become an important commodity while offline transaction processes are slowly becoming replaced online. As we enter the Firth Industrial Revolution, an intelligent revolution is happening as humans and things become increasingly connected. The phenomenon of convergence is where consumption and production are happening simultaneously with socialization, for example as well as the digital DIY(Design it Yourself). The offline realm of material is dominated by the law of Pareto which tries to protect and focus on the central 20% of customers due to the insufficient resources. In contrast within online, the online digital world it is , the Long Tail theory is applied to discover opportunities from the 80% who are marginalized consumers. 

This Fourth Industrial Revolution is creating an environment in which offline as well as online meet. The convergence is taking place in logistics, manufacturing as well as finance, automobile as well as sports, healthcare education, food, and daily life. Additionally, the issues of material manufacturing and distribution were addressed during the First, Second, and the Third Industrial Revolution, and as the fascination with human desires and the human spirit grew in the Fourth Industrial Revolution stage, the new ties between the offline and the online world are emerging.

The combination of real and virtual in Metaverse

Social, economic and cultural interactions can be seen in the Metaverse. It appears to resemble what happens in the actual world. The Metaverse creates a world of fantasy that isn’t achievable in the real world.

In Minecraft, a virtual-reality game platform that is a representation of Metaverse since it was difficult to attend school due to COVID-19 UC Berkeley students created a campus in the Minecraft game. They also held an event for an online graduation ceremony. The president, the guest presenters, as well as graduates took part as Minecraft characters. And even the custom of throwing hats at graduation was recreated on Minecraft.

Roblox lets game developers develop games on their Roblox virtual platform, instead of having to travel to an offline office. Roblox is a game where tokens are obtained as a reward for labor and the tokens that are earned through games can then be taken out to be exchanged for cash.

In Metaverse there are many users who are able to freely trade items and services based on the transaction method and currency offered through the exchange platform. The virtual assets SAND in The Sandbox and the virtual asset MANA in Digital Land are listed on the exchange and are being actively traded. It means that the money that is in the virtual world as units of bits may replace currency that exists in real life. The co-creation of a game within the virtual world is equivalent to taking over the reality. It means that all activities that take place in actual life are stored as bits of data in the virtual world. The importance and the reliability of these bits are stressed.

Trust in data within the digital world

Following the fourth industrial revolution this virtual universe has expanded quickly. The real world is now data in the virtual world and the virtual world is even playing a part in the direction of the actual world. We are now faced with questions about the authenticity of data and whether the actual thing is being transformed into data inside the digital world. The virtual realm, the technology of trust is becoming a major problem. Blockchain can be thought of being one such trust technology.

Blockchain was first suggested by 2008 Satoshi Nakamoto’s work “Bitcoin: P2P Electronic Money System”. Blockchain could be described to be a system that creates the security of transactions between individuals. Blockchains consist of data-rich blocks as well as a chain linking them. It’s a way to connect and create blocks. Consensus algorithms are utilized to create and connect blocks. All nodes in the network may make blocks, but none of the blocks created are connected and only one block is identified and joined. Because only one block from several blocks is linked to the block before it and the rest are removed, the consensus among all nodes that are part of the network to select the one block is crucial. In order to reach consensus the consensus algorithms like Proof of Work (PoW) and Proof of Stake (PoS) are employed. If the block is deemed to be an individual Block by every node, the one who has created the block will get cryptocurrency as an incentive. This process is known as mining. A blockchain that is only connected to blocks that are created through mining is known as Canonical Chain.

Development of Blockchain:

Blockchain was a period of development in the world of finance with the introduction of Bitcoin. Bitcoin is significant because it aims to create a global financial system that is based upon decentralization, decentralization which are the fundamental value of blockchain. Blockchain is a phase of automation of contracts based around Ethereum smart contracts. It enabled users to sign contracts with legal force online by using computers, without the need for an intermediary. This is a time that proved the potential for growth in the form of an online trading platform. Blockchain  is the phase in which blockchain technology is being rolled out and applied to a variety of industries. In order to address the shortcomings of the earlier blockchain, technological advancements like changes to consensus algorithms, enhancement of the speed of processing transactions, as well as internal decision-making functions for decision-making are being implemented. It is anticipated to see artificial intelligence utilized in greater areas of application within Blockchain 3.0, more various applications of artificial intelligence and blockchain are expected to emerge within the Metaverse.

Metaverse identification

In the Metaverse the, Block-chain and AI a wide and varied amount of secondary and third party information is created due to the actions of many users. Within the Blockchain-driven Metaverse the data is tagged with an identification number that is unique and is used to trace data. The data is becoming an ideal material for artificial intelligence within the Metaverse. Metaverse utilizes blockchain technology and artificial intelligence to create a virtual world in which you are able to safely and easily participate in economic and social activities that go beyond the boundaries of the real world and the implementation of the most advanced technologies will accelerate. Blockchain technology and artificial intelligence are predicted to play a crucial role in the expanding Metaverse.