Review on Decentraland by francis fernandez
Decentraland: an entertaining way to create applications and generate money
Decentraland is a portal that operates on the Ethereum blockchain, designed with a virtual reality infrastructure, which makes a digital world available to its users where they play, create and interact with 3D technology creations to have fun and share online with Other users.
This platform makes available to the user a virtual space to build on it what they want or to create applications with content in the form of images, video games, buy land and decide what they will design on their plots to monetize their creations.
The main characteristic of the platform is the total ownership and autonomy that the user has to develop applications on their plots.
What is Decentraland?
Decentraland since its inception used a consensus protocol called Proof of Work that progressed to develop a virtual world set in 3D; where the user through the use of two tokens can buy goods and services interactively.
The property or land acquired is divided into a limited number of parcels called LAND and each user is autonomous within their parcel and receives the income that it generates, according to the applications developed in it.
The Decentraland virtual terrain has a total of 90,000 parcels of 16x16 meters each.
The parcels are represented in ERC-721 token that can be acquired through MANA (an ERC-20 token).
How do your tokens work?
Decentraland works on the Ethereum blockchain that uses two tokens:
1-MANA: An ERC-20 token used basically to burn and obtain LAND and to buy many products, goods and services within the virtual world and to carry out transactions on the platform.
2-Token ERC-721: It is the LAND token that is purchased with MANA.
How are Decentraland transactions carried out?
Transactions that run on LAND are recorded using Etthereum smart contracts and validated against your Ethereum blockchain as well.
Pros
- Their website has a visually modern and attractive design with a wide menu and easy access to its users to create multiple digital resources.
- It allows its users to create an autonomous economic system where they have control over its content and monetization.
Cons
- The supply of MANA coins is very high compared to other cryptocurrencies; which makes it difficult to mine in the future.
