How Kinglory’s Technological Advantages Help Support the Metaverse ?
Backed by four years of research, Kinglory will be launching the world’s first public chain that supports the metaverse.
Kinglory’s public chain technology acts similar to an “operating system” in that it supports the metaverse and allows other decentralized applications (DApps) and assets to interact with each other on multiple different chains without barriers. This allows for metaverse developers and users to extract complex operations of data, assets, or smart contracts from different blockchains.
Kinglory has a NFT toolkit that supports NFT creation in the metaverse. Kinglory will provide a NFT toolkit as one of the key components of the metaverse operation system, allowing metaverse applications to natively access the underlying NFT assets.
From Facebook to Microsoft, more and more major players are seeing the value in the metaverse and reaping the benefits of augmented reality.
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How Kinglory Supports the Metaverse
● Sharding and Account Types. While other chains’ account types can only handle one type of currency, Kinglory’s innovative cross-shard technology can support different currencies at the same time, such as Bitcoin, Ethereum, and other DeFi data or asset shards.
● Kate Polynomial Commitment. Polynomial commitment is like calculating a short, fixed-length value for an unlimited number of ledger content and smart contract states, to prove and verify one or multiple ledgers. Hackers cannot forge non-existing ledgers nor tamper with existing ledgers. Kinglory’s polynomial commitment program is developing multiple sets of competition plans, including RSA accumulators, Kate Commitments, and other polynomial commitments. This includes functions such as set credit, compute commitment, generate proof (for one or multiple ledgers), verify proof, and update commitment.
● Near-Unlimited Storage Capability, Real-Time Communication. Kinglory blockchain is currently the only blockchain that provides near-unlimited storage and support real-time communications. Metaverse residents will be able to store, trade, and communicate various assets and information using the Kinglory blockchain and the Kinglory wallet.
Additional features of Kinglory’s metaverse “operating system” include:
● All data and information in the system are open, transparent, and traceable without the need for a third-party endorsement.
● Turing complete smart contracts, no downtime, and no single point of failure.
● Transactions arrive in seconds.
● 100,000 transactions per second (TPS).
● Support for tens of billions of account nodes.
● Low energy consumption and low cost.
● Large-scale decentralized application support.
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What is the Metaverse? Quick facts:
● Metaverse is a virtual space parallel to and independent of the real world. It is an online virtual world that mirrors the real world and is becoming an increasingly real digital virtual world.
● Metaverse is a 3D virtual space that presents convergence and physical persistence characteristics through virtual augmented physical reality based on the future Internet. It has the characteristics of connection perception and sharing.
● Metaverse is an important historical event in the process of mankind’s transformation from industrialization to informatization and requires complete and mature scientific and technological support. Specifically, the development of blockchain, big data, energy, and other aspects is a prerequisite, and the support of virtual reality technologies such as VR and AR is also necessary.
● Metaverse is the largest practical application scenario of blockchain. Currently, only the blockchain can provide this kind of technology for transferring digital assets across the universe. NFT provides a model for the solution.
Why should your organization start taking note? Here are a few recent metaverse events to put things in perspective:
● Facebook founder and CEO Mark Zuckerberg recently announced that Facebook will strive to build a sci-fi themed, maximalist, interconnected experience, known as the metaverse.
● After Roblox went public, its market value increased tenfold, demonstrating the high value and popularity of the metaverse market.
● In a live virtual performance in Fortnite by rapper Travis Scott, more than 12 million players participated, setting a record for the highest number of simultaneous online viewers in a music scene in the history of the game.
● In addition to ByteDance, Microsoft, Google, Tencent, NetEase, HTC, Nvidia, Baidu; other tech companies are not far behind and are competing for the “metaverse” outlet.
For those interested in the metaverse, blockchain technology is essential for supporting it. Think of blockchain as the key technology used to construct metaverse’s intelligent transaction infrastructure and economic ecosystem. Without blockchain technology, the metaverse may not be able to evolve into an immersive economy integrating both reality and virtual interactions.
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