Community, Business, Metaverse
To understand better how mQuark aims to acheive interoperability. Let's step back and look over the lanscape of web3 and the quarks from the first concept of our Triple-E principle.
- Protocol Ecosystem: They people who join in creating our ecosystem.
Ecosystem
For readers who are not familiar with web3, in a nutshell, web3 is the decentralised internet – built on distributed technologies like blockchain and decentralised autonomous organisations (DAO) rather than centralised on servers owned by individuals or corporations.
The idea is that this will create a more democratised Internet. No single entity will control the flow of information, "pull the plug", or be able to kill a network, simply because No Single individual owns the hardware it’s running on. The servers, systems, and networks where applications are run from and where data is stored will, in theory, be owned by the users themselves, who will have voting rights over what rules and regulations are in place, and how they can be used. Why is it called web3? Because it’s thought that it will be the third major evolution of the internet, after the worldwide web (web1) and the user-generated web (web2, or social media).
Now the landscape of the mQuark ecosystem can be more visible considering its players and stakeholders.
Community
Web3 offers the possibility for the very foundations that digital worlds are built on to be built on decentralised platforms. Decentraland, for example, is an entire world built on the Ethereum blockchain. This means that users can use the Ether virtual currency to buy plots of land that intrinsically belong to them and not to a corporation that owns the servers where they are stored. This doesn't just mean they could profit as the land rises in value (just as with real estate), but it means they can set rules about what can or can't happen there. In decentralised virtual worlds, governance can be carried out via smart contracts – rules baked into the blockchain and designed to execute autonomously – and users can vote and exercise democratic rights to influence how the universe works.
Businesses
Web3 offers the possibility for the very foundations that digital worlds are built on to be built on decentralised platforms. This is where NFTs – non-fungible tokens – come into the picture. Another key element of the web3 vision, NFTs, make it possible for unique items to existing in digital worlds. This is because, unlike most of the digital data that makes up the internet, social media, and virtual realities, it can't be infinitely replicated just by using "copy and paste". After all, it is represented by a token on an encrypted blockchain.
This is why we’re already seeing companies like Nike creating NFT-backed shoes and clothing that only exist in the digital world. After all, people spend hundreds of dollars on expensive sneakers in the real world simply because they are limited edition, so why should they behave any differently in the virtual world?
Metaverses
The metaverse, at the moment, is a shorthand for virtual worlds, where users can interact with each other and engage with apps and services in a far more immersive way.
Perhaps most obviously, cryptocurrencies could form the foundations of economic and monetary systems in the metaverse. If the metaverse is a digital equivalent of the real world, then it’s pretty likely that people will want to shop, earn money and establish businesses there.