Decentraland (MANA): Everything You Need To Know
The Decentraland (MANA coin) is building a strong position on most global exchanges. This powerful coin provides favorable opportunities for investors to seize with multiple trading opportunities to reap huge profits. So what is Decentraland? The following article will provide all information about Decentraland.
Decentraland (MANA) overview
Decentraland (MANA coin) is a project that builds a virtual reality platform and runs on the Ethereum blockchain. Decentraland allows the creation of an economy with token-based transactions to buy and sell land in the virtual world. When you own the land, you can build anything on that land. You can create games, casinos, 3D applications, educational services, travel, shop with friends, visit a resort, drive your dream drive, start a business and even more than all of that. you can imagine. With virtual reality glasses or a web browser, you can explore the virtual world.
Decentraland runs on the Ethereum blockchain. It uses this blockchain to store important information about land ownership and other important content. Ethereum (smart contract) is responsible for confirming modifications made by the owner of the land. Users can use the MANA to purchase vacant land as well as buy any digital goods and services within the platform. A piece of land measures 10m by 10m, which you can increase over time. Decentraland is perfect for artists, students, gamers, and online communities that want a great 3D experience.
What is Lend (land)?
In the Decentraland project, there will be interactive spaces called LANDs, which are a form of real estate that you buy in the game. When you own a LAND, you are free to do anything with your LAND. You can create games, apps, casinos, 3D movies. While not its primary purpose, LAND-based services such as educational services,travel,… can be created.
The number of LANDs is limited, and each LAND is 33×33 (feet), but the height is unlimited. You can view the map to buy LAND, there is also a separate LAND market.
Similar groups on LAND include districts. Districts will revolve around 1 theme. There might be an area just for the crypto community with crypto apps and services.
MANA is a token of Decentraland, belongs to the type of ERC20 token that you use it to buy a lot of land and pay for goods and services in this virtual world.
When you use MANA to purchase LAND, those MANA will be burnt by Decentraland. The Decentraland group initially sold each plot of land to 1000 MANAs. Now, there is a secondary market, however, the price of LAND changes. Currently, LAND’s cheapest price is 8,888 MANA while the more popular regions have a price up to millions of MANAs.
Development roadmap of Decentraland (MANA)
It can be said that Decentraland has gone through a very difficult process to gain a huge position as it is now. Decentraland’s development is divided into four phases:
Officially released around the beginning of 2015, Decentraland with its virtual reality platform gives users the opportunity to make money even beyond their imagination. In June of that same year, Mana took its first steps by creating an algorithm to accept Bitcoin (BTC).
In March 2017, the virtual reality platform Decentraland took a new step by sketching 3D space, under the connection and support of Blockchain technology.
In Q4-2017, Token Mana allows users to receive items from other lands based on the ERC-20 platform. Thereby bringing the land market to the transaction according to the wishes of the user.
2018 was the year that Decetraland had a big turning point in its development journey. 3D virtual world, the laws of physics are resonated to help users communicate easily
Mechanism of action Decentraland
MANA is based on Blockchain technology. Therefore, this coin is completely at the discretion of the user. People have total control over property, land and the content they own, and they retain all earnings value they generate from other users. Users are thereby allowed to benefit from the money they earn through the sale of their own land or from whatever businesses they invest in. In addition, the Decentraland platform also supports a lot of interesting and useful applications.
Some cornerstone applications
On the Decentraland platform, there are many cool applications, aimed at giving users the most beautiful and enjoyable experience.
- Content security: the entire content, including all transaction information, is strictly confidential.
- Advertising: Like real-life advertising, local ads can be inserted and placed in suitable positions to place ads.
- Affiliated social network: Thanks to this platform, everyone using the service can chat easily.
Why invest in Decentraland (MANA)?
It is wholly owned by the user: Decentraland users have complete control over all the land content they own and have the right to keep all proceeds from the value they generate from the users. other. This is important as it allows users to benefit from the money they make from selling their land or from whatever business they choose to build.
It uses Blockchain technology: Blockchain technology is the future of the digital world. Decentraland uses blockchain technology to ensure that you have a great experience.
Where can you purchase Decentraland?
To purchase MANA Coin, you can go to any exchange that accepts this coin. Currently, the MANA Coin of Decentraland is available on 38 different exchanges globally. Some popular exchanges can be seen are: Binance, Okex, Bitfinex, …
In terms of technology concept, Decentraland is a project with many different ideas, leading the cryptocurrency market, considered the strongest element of this project. Decentraland also owns a team of developers and advisors in many different fields, especially cryptocurrencies, blockchain and virtual reality, and people are a key factor in determining the success of a person. project, so when you want to invest in any project, you need to consider the quintessence of that project.
In addition, partners are also a very important part, currently the Decentraland project has 4 partners: district0x, Aragon, ImToken and most recently Binance – the largest digital asset trading platform in the world. considered great news for the Decentraland community.