What is Decentraland? All about Decentraland (MANA)

• What is Decentraland?
• What you need to know about MANA . cryptocurrency
• Conclude

What is Decentraland?

Decentraland's concept

Decentraland is a virtual reality platform developed on the Ethereum Blockchain system. The project allows you to create a token-based economy for owning land in the virtual world. You can freely create and build anything you want when you own a piece of land there. Plus, you can go to casinos, attend seminars, watch country music, shop with friends, visit resorts, drive your dream car, start a business and even more all of these things. you can imagine. To put it simply, Decentraland is an ecosystem that you need to pay some money to have fun in.

The Decentraland project is divided into 4 phases:

Stone Age : Officially released around the beginning of 2015, the Decentraland virtual reality platform has given users the opportunity to earn money beyond imagination. In June of the same year, the project began taking its first steps by creating an algorithm to accept Bitcoin (BTC).

Bronze Age : In March 2017, the land at the Decentraland virtual reality platform took a new step by sketching 3D space, under the connection and support of Blockchain technology.

Iron Age : In Q4/2017, the MANA token with ERC20 technology allows users to receive parcels of the LAND land while being able to interact with other lands.

Silicon Age : In 2018, Decentraland made a major turning point throughout its development journey. The combination of 3D virtual world and VR glasses added to Blockchain allows all interactions on the system to become very simple.

Decentraland is the ecosystem you need to pay to have fun in.

Decentraland . project development team

It can be said that the Decentraland project development team possesses a lot of experience in the field of virtual reality technology and blockchain. Let's take a look at some of the prominent names on the MANA development team:

Ari Meilich : Ari is the founder of the Decentraland project (MANA), he studied at the University of Buenos Aires.

Esteban Ordano: is the technical director of the project. Along with Arimeilich, are the founders of Streamium and Bitcore.

Along with a strong team of advisors such as Xiaolai Li (founder of INBlockchain), Jake Brukhman (founder of CoinFund), Luis Cuende (Aragon project manager), Diego Doval, Giotto De Filipi… factors contributing to the success of the Decentraland project.

Decentraland project development team.

The development process of the Decentraland . project

In 2015, Decentraland was officially released in the form of a virtual reality platform that gives users the opportunity to earn unimaginable profits.

In June 2015, Decentraland created an algorithm to accept Bitcoin.

In March 2017, thanks to the 3D sketching feature, under the connection and support of Blockchain technology, Decentraland made a great progress and gradually became known to everyone.

Q4/2017, the MANA token was released. The system allows users to receive parcels from the Land and interact with other lands.

In 2018, communication was completely simplified with the introduction of VR headsets. This is a big step forward in the evolution of Decentraland.

In June 2020, Decentraland cooperated with Matic AKA Polygon to build a system of mini games in this virtual world.

In September 2020, Decentraland introduced smart items that help players use images, videos, and sounds from the outside into their virtual world.

Decentraland's mechanism of action

Unlike other Online Games, at Decentraland users have direct control over the rules by voting on the policies and regulations of the game.

NFTs represent in-game collectibles including land, real estate, and other items. Players will keep these tokens on their wallets and sell them to those in need on Decentraland. The money used for this transaction is MANA.

In addition, players can also fill their personal space by participating in other tasks and activities. The ultimate goal is to earn MANA from Land.

Features of Decentraland

Application

Players can create apps and 3D scenes using Decentraland's scripting language. This scripting language is designed to handle a wide range of features, including object creation, coding of user interactions, audio, and payments, thereby enabling the development of applications, games, and applications. playing, gambling and extremely vivid 3D scenes.

Players can create apps and 3D scenes on the Decentraland platform.

Content security

The content and transaction information on the Decentraland platform is completely confidential, ensuring the interests of users.

The Decentraland platform is completely secure.

Advertisement

All brands can advertise on the Decentraland platform, for example, by placing banners on prime plots of land, located in a large location, frequented by many people.

Advertise on Decentraland.

Social network

Decentraland also acts as a social network where you can exchange and share but of course still have to comply with the regulations of this "virtual world".

Decentraland social network.

Digital collectibles

NFT entries are collected then created and traded on Decentraland and granted ownership by Decentraland.

Digital collectibles on the Decentraland platform.

Pros and cons of Decentraland

Advantage

• Decentraland uses the most advanced Ethereum Blockchain technology.
• Users have full control over the assets they own and keep all proceeds from the value they generate.
• The contents and transaction information on the platform are highly secure.

Defect

• Token has only 1 main function that is to pay for services, goods and Land in Decentraland, the applicability is not high.

What you need to know about MANA . cryptocurrency

Basic information about Decentraland . coin

• Price: 0.719 USD (price at the time of writing June 10, 2021).
• Market capitalization: $1 billion.
• Total supply: 1 billion.
• CoinMarketCap ranking position: 73.

Decentraland token allocation

MANA is distributed by the Decentraland development team as follows:

• 40% is sold in Crowdsale (aka ICO).
• 20% is held by the Decentraland Foundation.
• 20% belongs to Team & Early Contributors.
• 20% of Community & Partners development budget.

Decentraland token allocation.

How to own Decentraland token

You can buy MANA on most major exchanges with Bitcoin or Ethereum or participate in the development and trading of products on the ecosystem.

Instructions for storing Decetraland tokens

• Decentraland cryptocurrency is a token developed on Ethereum platform according to ERC20 standard, so users can store Decentraland on ETH wallets.
• Some highly appreciated ERC20-enabled ETH wallets today include: Trust Wallet , Ledger, MEW, Imtoken,....
• In addition, you can also store it on ETH wallets of exchanges for easy trading.

Exchanges that support Decentraland . trading 

Currently, Decentraland's MANA Coin is available on 38 different exchanges globally. Typically some extremely reputable and popular exchanges: Binance , Bitfinex, Huobi,Gate.IO,OKEx, also allow

Conclude

Decentraland is a potential project both now and in the future. In terms of technology ideas, Decentraland has a very different idea, leading in the NFT trend and this is considered the strongest element of this project. Decentraland also has a team of developers and advisors with experience in crypto, blockchain and virtual reality. People are a key factor determining the success of a project, so you should consider the team behind any project when you want to invest.

After reading this article, do you have any comments of your own about the development potential of MANA, please share with the TraderH4 team !

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