3Blockchain in the Development of Metaverse
Dileep Kumar Murala1 and Sandeep Kumar Panda2*
1 Computer Science and Engineering, Faculty of Science and Technology, ICFAI Foundation for Higher Education, Hyderabad, Telangana, India
2 Data Science and Artificial Intelligence, Faculty of Science and Technology, ICFAI Foundation for Higher Education, Hyderabad, Telangana, India
Abstract
The current buzzword, “metaverse”, has garnered a lot of interest from both businesses and academics. The goal of the metaverse is to create an immersive virtual environment that will enable users to communicate with the online world and other users in real time, establish a virtual economic system, and increase the virtual space for human activities via the Internet. This will infuse new life into the social, economic, and other fields. Exploring the metaverse allows you to create an exciting digital environment and improve the physical world. In this paper, we review studies on state-of-the-art metaverse, digital currency, and blockchain-enabled technology and explain how these can be combined. Exploitation and transdisciplinary research on blockchain integration into the metaverse will require academic–business collaboration. In this chapter, we provide basic information about blockchain, the consensus algorithms for blockchain, the usage of blockchain in the metaverse, problems in the metaverse, how blockchain technology is useful for solving metaverse issues, and, finally, a conclusion with ...
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