MANA-Decentraland introduction details

Decentraland is a blockchain-based virtual world platform that aims to solve the problem of platform operators earning intermediate platform profits for decentralized open source projects, so as to achieve a low price payment model between content creators and gamers; project use Blockchain technology is used to acquire and transfer virtual property rights, and allow users to hold these virtual property rights permanently, or even operate them, to generate profits for their own content creation; there is no intermediary fee, which is the biggest feature of Decentraland.

Project highlights
The biggest difference between the Decentraland project and other virtual space VR projects is that Decentraland is a decentralized system, which proves that the Decentraland space is owned by everyone. It is a virtual space hidden in the Internet world, rather than a company running through it. There is no intermediary fee in the space where the server runs. This is the biggest feature of Decentraland. The use of this space does not require anyone’s consent. As long as you run the program and connect to the network, you can use it; secondly, the decentralized structure allows Decentraland runs more stable and is not vulnerable to attacks. Another point is that Decentraland uses blockchain to record user ownership. Through an identification system, users will be able to track and verify whether a content has obtained the consent of the original creator through an encrypted signature. This is the first blockchain-based virtual world platform. You can have your own virtual space, and you can control your own virtual space, publish your own applications to create value, such as publishing your knowledge on the virtual space platform Property rights games, on the other hand, players can make low-cost payments directly on the virtual world platform.

Application scenario
Users can create and experience in the Decentraland world, and even rely on the development of platform content and program experience to gain revenue.

Identity authentication system
Decentraland's territorial ownership is an identity verification system. In this system, the authentication information is the coordinates of the territory. Setting up financial incentives is necessary to ensure that creators continue to create and distribute avatars, objects, and scripts. Since the content can be copied arbitrarily, we must rely on some social consensus to enforce punitive measures.

Social consensus brings the possibility of digital scarcity. In a centralized system, the company that creates the platform can resist scarcity. But for Bitcoin and other proof-of-work blockchains, computational problems and the economic cost of mining blocks are bound to cause scarcity.

Decentraland can use a decentralized identity system to create an ownership layer on items in the virtual world. Such systems must be user-friendly, by linking public keys and signatures with human-readable names to verify the consent of the founder.

Projects like uPort or Ethereum Naming Service can be used. Social reputation also needs to be used to promote the contributions of the founders.

In a decentralized economic system, the incentives for content creation will evolve very rapidly. Potential solutions include Mediachain16, Basic Attention Token, Curation Markets, Rare Pepes, etc.

Economic system

1. Territory and MANA token
With the advent of the Iron Age, two digital assets were introduced: territory (distributable in this virtual world, but not replaceable); and MANA tokens (ERC20 tokens, destruction can be used to obtain territory and purchase goods and services) .

The practicality of the territory is based on its distance from the center of attention, its ability to support applications, and its effectiveness as an identity authentication mechanism. Because developers and other content creators have a demand for territory, they will build applications on the territory and reach out to target users. Although all unclaimed territories can be purchased at the same exchange ratio (1000 MANA = 1 territory), there is still a big difference between a territory and a territory. Due to the difference in the distance and flow between the territory and the center of attention, their prices on the secondary market will be quite different.

On the other hand, MANA will serve as a substitute for measuring new territories. Moreover, MANA can be used to purchase goods and services, creating practical value for tokens.

2. Build a network
Territory ownership needs to be obtained through ERC20 token MANA. MANA can bring value into the Decentraland network and buy into new territories. MANA can also be used to purchase goods and services in the Decentraland world.

In order to quickly launch this network, developers and content creators will be rewarded for establishing stores in Decentraland. The foundation will organize competitions to create art, games, applications and experiences, and set up awards based on the achievements achieved. At the same time, new users can also share allowances, so they can immediately participate in this economic system. These financial incentives help build the practical value of the Decentraland network until it can independently attract users and developers.

The main purpose of the token
The project token MANA can buy land in the game, as well as virtual game goods and services. Users can use the token MANA to buy land, and 1000 MANA can buy a piece of land. The user can sell the land twice, and the price of the land will vary according to the location and the degree of construction.

Relevant information:
Decentraland land auctions are hot