Kucoin: Altcoins — Metaverse.Network & Bit.Country (NEER) — What Is It?

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Table of Contents:

· What is Metaverse.Network & Bit.Country (NEER)?

· How does it work?

· Who cre­at­ed the NEER?

· What is the NEER token used for?

· What makes it unique?

· Clos­ing thoughts


Talks about the meta­verse have tak­en on a life of their own in recent years. From giant tech com­pa­nies to reg­u­lar joes, it seems like every­one is try­ing to get a piece of the Meta­verse pie. How­ev­er, what if it were pos­si­ble to build a meta­verse you can con­trol with­out all of the headaches that come with get­ting the right skills and build­ing one resource at a time?

 

Imag­ine launch­ing your meta­verse with a nar­ra­tive that is com­plete­ly in your con­trol. You could even go ahead and deploy decen­tral­ized appli­ca­tions that deliv­er expe­ri­ences nev­er before pos­si­ble with col­lectibles, smart con­tracts, and NFTs designed for vary­ing pur­pos­es, includ­ing e‑commerce, gam­ing, social media, and more.

 

Well, this is pre­cise­ly what Bit.Country & Metaverse.Network Pio­neer (NEER) is work­ing to facil­i­tate. Metaverse.Network is an L1 blockchain that is being built on Kusama, the canary net­work of Polka­dot and will serve as the foun­da­tion for an entire meta­verse ecosys­tem of decen­tral­ized appli­ca­tions (DApps). This project is set to be the foun­da­tion of space and time in a Web3 world where any­one can devel­op a meta­verse as eas­i­ly as cre­at­ing a Word­Press site.

 

What is Metaverse.Network & Bit.Country (NEER)?

Bit.Country Pio­neer (NEER) is the first decen­tral­ized meta­verse appli­ca­tion to be built on the Metaverse.Network blockchain. Bit.Country allows users to inter­act direct­ly with the Metaverse.Network lay­er 1 blockchain. Using the Bit.Country brows­er-based app, reg­u­lar users, and devel­op­ers can access the blockchain and cre­ate meta­vers­es with­out any tech­ni­cal skills. Metaverse.Network is a Sub­strate-based blockchain that is cus­tom-made and open for meta­verse projects. It is con­nect­ed as a Parachain to the Kusama relay chain. Bit.Country & Metaverse.Network Pio­neer is the canary net­work and will tran­si­tion to the Polka­dot relay chain when Bit.Country & Metaverse.Network when ready for main­net launch.

 

The Metaverse.Network plat­form on the oth­er hand is an EVM-com­pat­i­ble blockchain con­tain­ing all the pro­to­cols required for devel­op­ing Meta­vers­es and DApps. Metaverse.Network is a high-per­for­mance pub­lic blockchain that sup­ports smart con­tracts, NFTs, and dApps.

 

How Does It Work?

The Bit.Country & Metaverse.Network project work togeth­er to pro­vide users with an easy way to cre­ate meta­vers­es and deploy DApps. The Metaverse.Network is the under­ly­ing blockchain that pro­vides the pro­to­cols required for meta­vers­es and DApps. The Bit.Country app allows reg­u­lar users and devel­op­ers to access the Metaverse.Network and cre­ate Meta­vers­es with­out any pre­vi­ous tech­ni­cal knowledge.

 

At its core, the project aims to dri­ve a com­mu­ni­ty-first approach that will enable Bit.Country & Metaverse.Network to become the Meta­verse OS for a new Web3 inter­net. This will be done by mak­ing it easy for any­one to devel­op a Meta­verse and deploy DApps with­out the need for expen­sive hard­ware or hir­ing skilled developers.

 

Metaverse.Network uti­lizes Sub­strate tech­nol­o­gy which is the same tech­nol­o­gy that pow­ers Polka­dot and Kusama. It fea­tures a low gas fee NPoS con­sen­sus mech­a­nism, and a meta­verse-spe­cif­ic NFT Stan­dard. Metaverse.Network is also cross-chain enabled allow­ing it to con­nect with oth­er blockchains such as Ethereum, Bit­coin, and more.

 

As an EVM-com­pat­i­ble blockchain, Metaverse.Network can sup­port all Ethereum-based DApps and there­fore can run on Solid­i­ty. This means that Metaverse.Network can act as a “sidechain” for Ethereum and process trans­ac­tions at a much faster rate than Ethereum’s main­net. This makes the Metaverse.Network blockchain scal­able due to its shard­ing tech­nol­o­gy which allows it to process more trans­ac­tions per sec­ond as the ecosys­tem grows.

 

Over­all, this project is set to be the foun­da­tion of space and time in a Web3 inter­net where any­one can devel­op a func­tion­al, effi­cient, and afford­able meta­verse with ease.

 

Who Created It?

The Bit.Country & Metaverse.Network project is led by a team of expe­ri­enced blockchain devel­op­ers and entre­pre­neurs. The team has a strong vision for the future of the meta­verse and is build­ing a com­mu­ni­ty-first approach that will enable Bit.Country & Metaverse.Network to become the foun­da­tion for cre­at­ing meta­vers­es in a Web3 internet.

 

Metaverse.Network was cre­at­ed by Meta­verse Foun­da­tion, a non-prof­it orga­ni­za­tion based in Sin­ga­pore. Meta­verse Foun­da­tion is ded­i­cat­ed to the devel­op­ment of Meta­verse and its ecosys­tem. Formed and offi­cial­ly launched in March 2021, the foun­da­tion will also be used to set up grants and boun­ty pro­grams as incen­tives for val­ue cre­ation in the Metaverse.Network ecosystem.

 

What is The NEER Token Used For?

The Bit.Country & Metaverse.Network project uses the NUUM token which is the net­work’s cur­ren­cy, and the NEER token which is sim­i­lar to NUUM but only use­ful on Bit.Country Pio­neer as a canary net­work for Metaverse.Network

 

The NUUM token is used to pay trans­ac­tion fees on the Metaverse.Network blockchain. This token can be used as the uni­ver­sal cur­ren­cy for pur­chas­ing resources such as NFTs and Land Blocks on the Bit.Country marketplace.

 

The NEER token on the oth­er hand oper­ates on the Bit.Country Pio­neer canary net­work where it oper­ates as a small­er token with the same capa­bil­i­ties as the ful­ly-fledged NUUM token. Users can use this token to test out Metaverse.Network’s fea­tures and func­tion­al­i­ty before the main­net launch.

 

What Makes It Unique?

The Metaverse.Network & Bit.Country is unique in its approach to the meta­verse. While most meta­verse projects scram­ble to cre­ate a cen­tral­ized sys­tem, this project has its focus on a com­mu­ni­ty-owned and cre­at­ed net­work of meta­vers­es and dApps. The project uti­lizes Sub­strate tech­nol­o­gy which is the same tech­nol­o­gy that pow­ers Polka­dot and Kusama.

 

It fea­tures a low gas fee NPoS con­sen­sus mech­a­nism, which is opti­mized for Meta­verse appli­ca­tions. In addi­tion, Metaverse.Network will be the first L1 Meta­verse blockchain that focus­es on pro­vid­ing meta­verse as a ser­vice (MaaS) and Bit.Country will be the world’s first Dapp to facil­i­tate inter­op­er­a­ble and func­tion­al user built meta­vers­es. The project also has a strong team with mem­bers who have worked in var­i­ous relat­ed fields since 2018.

 

Closing Thoughts

The Bit.Country & Metaverse.Network is unique in many ways. Not only is it the world’s first blockchain for Meta­vers­es and DApps, but it is also one of the most ambi­tious projects in the space. The team behind the project has a clear vision and is work­ing hard to make their vision a reality.

 

The Meta­verse-Foun­da­tion has already raised over $20 mil­lion and has a strong com­mu­ni­ty back­ing the project, with big-time indus­try VC firms such as Ani­mo­ca Brands, Walsh Wealth Ven­tures, and Hyper­sphere Ven­tures back­ing the project. The Bit.Country & Metaverse.Network project has the poten­tial to change the game by pro­vid­ing a Meta­verse-spe­cif­ic blockchain that is scal­able, user-friend­ly, afford­able, and secure.

 

 


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Source: What is Metaverse.Network & Bit.Country (NEER) and How Does it Work? | KuCoin Cryp­to Gem Observ­er| KuCoin



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