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The metaverse is evolving fast, emerging as a place that can be virtually visited by anyone to socialize, work, play games, build and more.
It’s closely entwined with the world of blockchain and crypto, which enables it to be decentralized and permissionless, meaning that users have self-ownership of both their assets and the future direction of metaverse platforms. However, the infrastructure on which the metaverse resides is highly fragmented too, spread across multiple blockchain platforms designed for different use cases. This multitude of networks has arisen with the promise of solving problems around metaverse scalability, but it has led to a lot of friction between different chains, resulting in confusion for many users. There is certainly a strong case to be made that blockchain is fundamental to the future of the metaverse, even if Facebook’s parent company Meta Platforms makes no mention of it. However, the use of monolithic blockchains results in users being restricted to those ecosystems. As a result, users only perceive the sense of freedom, but in reality they’re forced to rely on a limited number of apps and services within each metaverse. Add to this the long list of complexities that blockchain introduces and it’s clear we have a problem. There’s the clunky user experience, the need for users to self-manage their private keys and crypto wallets. Then, as the metaverse becomes increasingly multichain, users are further burdened with issues of cross-chain friction. If we hold metaverse users captive on just one blockchain and then confuse them with technical processes, that is not going to encourage greater participation. The opposite would happen. But what if we could somehow abstract away these cross-chain mechanisms in such a way that they’re invisible to the user? Why The Metaverse Will Be Multichain There’s a common narrative in crypto circles that one blockchain will ultimately rise above all the others, providing a solution to the myriad of problems that plagues the space today. By solving issues around user-friendliness, scalability, security, gas fees and transaction times, there will be one blockchain that emerges to rule them all. Full story here
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