Popular creator of corporate cryptocurrency and blockchain services, Ripple, has announced the introduction of the Root Network, a decentralized blockchain network, in collaboration with FLUF World, a worldwide creative community, and the NFT collectibles ecosystem.
The network will be used to bring “The Open Metaverse” to life, which will combine numerous NFT collections with over 195,000 unique products and over 340,000 transactions.
The Open Metaverse has a number of significant benefits. It removes the barriers that now exist between the user’s many areas of interest and makes the overall environment more engaging. Essentially, the Metaverse aims to improve user experience in a variety of areas, including banking, social media, and gaming, among others.
The Open Metaverse is built on the principle of decentralization. The user is in charge of all of their transactions and their digital assets. Users are the only owners of any data, material, or identity associated with them. Because of this, the implementation of XRP on The Root Network is a significant step forward for the cryptocurrency’s overall development.
When asked to explain the necessity for a completely distinct network for this Metaverse, the developers of FLUF World said that their reasoning stemmed from the goal to provide any creator with access to the typical functionality of smart contracts without the creators having to design or implement contracts themselves.
They also mentioned that code that was previously built to operate on the Ethereum blockchain may be executed on the Root Network via the use of the Ethereum Virtual Machine (EVM).
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Source: Cryptocurrency - investing.com
