📖Library

Blockchain Technology

Metazonx employs blockchain technology and Non-Fungible Token (NFT) to enhance user experience in the metaverse. It is an open process of recording transactions and tracking assets in a business network. By applying this technology, any valuable things can be tracked or traded in real-time within the Metazonx blockchain. The risks and costs involved are relatively lower compared to the real world as all your personal information (track orders, payments, accounts, etc.) are only accessible to the permissioned network members. Therefore, given the relatively secure environment created by blockchain technology, Metazonx has decided to apply this state-of-the-art technology to the daily operation in metaverse to give users peace of mind.

The most widely known blockchain currency is none other than the cryptocurrency or more commonly known as crypto. Just like Bitcoin, Ethereum or Litecoin, cryptocurrencies are digital currencies or tokens used to purchase goods and services. Crypto works as if a digital form of cash that enables you to buy everything in the marketplace. Unlike cash, crypto is an intangible asset that uses blockchain as a public ledger and an enhanced cryptographic security system. Since every transaction is carried out online, it is well recorded for optimal security. In Metazonx, users can use $ZONX to buy and trade NFTs, such as lands, properties, avatars within the marketplace.

Binance Smart Chain

Binance Smart Chain (BSC) is a blockchain network built for running smart contract-based applications. Such ground-breaking technology is widely applied by Metazonx to enhance the efficiency of the metaverse ecosystem. In parallel with Binance’s native Binance Chain (BC), BSC is fortified with the high transaction capacity of BC as well as the smart contract functionality of BSC. Unlike BC, BSC is compatible with the Ethereum Virtual Machine (EVM), through which developers can build smart contracts powered by the network to accommodate the design of decentralised applications (DApps). DApp is a computer application that runs on a decentralised computing system.

As a result of Ethereum’s congestion and gas fee issues, BSC reached its peak traction in early 2021. BSC appeals to the blockchain community as a cost-effective and stable alternative. It lowered its gas fee from 15 Gwei to 10 Gwei to counter Binance Coin (BNB)’s insane price hike up to $300 in February.

Non-Fungible Token

The most widely used and circulated trading unit in Metazonx is none other than Non-Fungible Token (NFT). Generally speaking, it is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio. Since each token is uniquely identifiable, it is a unique digital asset that belongs to you and ONLY you. In other words, one NFT is only made once. The most popular NFTs in today’s world are artworks, music, and literature.

Digital tokens that are linked to digital files are widely exchanged using NFTs. Some of the products that are widely traded using NFTs include digital art, games, music and film. In the world of digital art, several high-profile auctions using NFTs as the medium of exchange have received high levels of public attention. These include the artwork “Merge” by artist Pak being the most expensive NFT sold at $91.8 million, and “Everydays: the First 5000 Days” by artist Mike Winkelmann (known professionally as Beeple) being the second most expensive NFT sold at US$69.3 million in 2021. Other than that, NFTs are also widely used to facilitate virtual assets trading in the metaverse.

WalletConnect

WalletConnect's all-rounded and convenient software development kit (SDK) acts as the catalyst for millions of secure communications between crypto wallets with decentralised applications (DApps). In this example, WalletConnect allows your wallet to connect and interact with Metazonx. With the wallet connected, you can store your Metazonx NFTs and $ZONX in your wallet securely.

For the convenience of users, this open-source protocol was also designed with a push notification function. Due to the rising usage of DApps in decentralised finance (DeFi), WalletConnect is currently one of the most popular protocols used by many crypto wallets.

To get started, simply scan a QR code or click a deep link, then you’re good to go. However, to ensure maximum security for your account, always remember to disconnect at the end of any session.