Metaverse ETP Monthly Report — February 2021

Highlights

• Metaverse Virtual Machine (MVM) up and running on the Andromeda Testnet, including testing DApps and smart contracts that will work with MetaMask Wallet
• Final version of Hyperspace mainnet will have the capability of mining on Dagger Hashimoto algorithm
• Release two demo DApps on Metaverse Browser Wallet. User guides and release for the community coming up.
• Metaverse celebrates 4th Anniversary, new website, featured on 6 different articles including a sponsored feature from Cointelegraph

The month of February has been a very busy and exciting month as the team continued to work on the new Testnet and Mainnet with improving blockchain scalability, security, and privacy in mind.

Andromeda Testnet

The Metaverse Virtual Machine (MVM) has been deployed on the Andromeda Testnet, including a test version of Gene Finance. Gene Finance and Metaverse teams are collaborating to smoothly migrate the Gene Finance platform onto the new Metaverse chain. Nodes were placed on both the Mainnet and Testnet for testing the Gene Finance smart contracts.

Hyperspace Mainnet

Hyperspace is a self-updating self-governed blockchain system, using a custom hybrid proof-of-work and proof of stake as its consensus engine. Hyperspace is one of the first blockchains that combines a hybrid consensus engine with forkless upgrades. The infrastructure we are laying is built with exponential scalability in mind.

The Metaverse framework responds with blockchain connectors to provide a varied landscape of solutions, adapted for the majority of use cases. They are likely to be used to produce cross-blockchain DApps. Our findings allow us to conclude that conditions to research on blockchain interoperability are fulfilled, allowing a multitude of new use cases. Thus, we expect interest in this research area to raise considerably. This work is towards making the blockchain ecosystem more practical, by easing work for developers and researchers.

For node operators, below are some screenshots of the updated dashboard:

Marketing and Operations

To celebrate the Metaverse 4th year anniversary, we released a new website with updated documents and information on the new Metaverse blockchain.

Learn more at mvs.org

For those that have never heard about Metaverse, we created a less than 2-minute video to help everyone understand the new Metaverse better.

Check out the video

We were also featured in 6 different articles across the crypto world:

• To circumvent this problem, developers are now migrating to more advanced platforms with much lower fees. Arguably the most prominent of these is Metaverse, a platform that uses a hybrid consensus system to keep fees down to a bare minimum while remaining speedy.
  - “The Dark Side of Ethereum”, by Bitcoinist, read more here.
• In the first quarter of 2021, the project is set to unveil its New Metaverse main infrastructure and launch the Hyperspace mainnet. Its technology is also going to be integrated into the Gene Finance protocol. As the year progresses, Metaverse plans to support developers who wish to build new DeFi products using its technology.
  - “The DeFi sector is missing something essential, blockchain project says”, by Cointelegraph, read more here.
• “The Metaverse Virtual Machine (MVM) is completely compatible with the Ethereum Virtual Machine — meaning developers can easily migrate their dApps to Metaverse with minimal changes. Upon doing so, they’ll find gas costs practically eliminated, while still benefiting from the same robust capabilities needed for powerful DeFi apps.”
  - “5 DeFi Projects to Watch for March”, by International Business Times, read more here.
• Beyond its highly scalable and efficient blockchain architecture, Metaverse also introduces a powerful feature known as ‘Metaverse Smart Tokens (MSTs). These are custom tokens that can represent practically anything on the Metaverse platform, including wrapped assets, derivatives, physical assets, stocks, and more. Hundreds of these have already been created. Unlike on some other blockchains, these can be freely (and easily) created, issued, used, and burned, making MSTs extremely accessible to developers looking to build novel functionality into their DApps.
  - “Metaverse Eyes the Top Spot as Most Advanced Blockchain”, by Crypto News Flash, read more here.
• Aside from offering an enticing platform for developers eager to shift away from high Ethereum gas fees, Metaverse also allows for the creation of digital identities (Avatars) on its blockchain and creation of digital assets via the Metaverse Smart Token (MST) or the Metaverse Identifiable Token (MIT), for non-fungible tokens.
  - “Why Ethereum Developers Are Moving to Metaverse”, by Coincodex, read more here.
• Those on Metaverse can also utilize the Metaverse Smart Token (MST) to create digital assets in conjunction with the MIT (for non-fungible items), or rely on the protocol’s Avatar system to build a secure digital identity and collect credit by interacting with other profiles or assets.
  - “Non-Fungible Tokens Continue to Revolutionize the Already Cutting-Edge DeFi Ecosystem”, by IHODL, read more here.

We are excited for the upcoming developments with the new Metaverse mainnet and the migration of Gene Finance. Stay tuned.

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