How to get a Metaverse Wallet? Where can I buy or store it? What are the best wallets for ETPs? Where to keep it safe and how to secure my wallet?
Metaverse is an open-source public blockchain. Like most other cryptocurrencies, you’ll need a wallet to hold your Metaverse tokens (known as ETP) and interact with Metaverse.
Metaverse wallet is a special digital or hardware cryptocurrency wallet that facilitates users to store their ETP in it securely. A user requires having an address in order to receive, send, hold or trade in ETP tokens on the decentralized network. As of now, one can download the official paper wallets from https://www.myetpwallet.com/ .
It is important to note here that Metaverse Wallet does not directly store your ETP since their token is based on Ethereum blockchain technology so you’ll need to move your Digital token out of the exchange before you can start staking them for interest at MyETPWallet. You can use any Ethash-mining GPU or even CPU (like a laptop) to start mining ETP straight away.
Metaverse wallet can be stored on your computer, phone or other device that allows you to easily access and transfer Metaverse tokens as and when required. Paper wallets need no external devices as it is minimalistic store for cryptocurrency and thus could be printed out as well as saved electronically depending upon the user’s choice. Digital wallets require an internet connection, so if there is any unspent balance in the wallet, you need not worry about it being lost due to lack of internet connectivity because these balances would still remain at the network level under your control.
To ensure higher security and safety of your digital currency, use hardware wallets like Metaverse Ledger Nano S which is very safe and convenient to use.
Metaverse is a new generation platform for financial services and social applications where participants can complete a wide range of valuable financial services including asset transfers, credit payments, derivatives trading, IPOs/ICO funding and crowdfunding etc., without having access to any sensitive information about others due to the implementation of a zero-knowledge proof.
It is an open source public blockchain based digital asset platform which was designed for building distributed financial applications and omni-channel retail service delivery. Metaverse is another form of Ethereum adapting many new improvements including the use of BFT consensus and digitalized assets with computer algorithms based on artificial intelligence technology called smart contracts to be registered as valuable assets on the blockchain. It is developed by Eric Gu, one of the co-founders of NEO, and managed by ViewFin™, a San Francisco Bay Area company founded by Eric Gu and Jimmy Hu. The first half of 2017 witnessed rapid growth in global awareness towards Bitcoin and other cryptocurrencies as mainstream media outlets began reporting on it constantly due to its exponential price rise from $1,000 to $19,000 in just a couple of months.
ViewFin™ also owns and operates the Metaverse Foundation Ltd. (U.S.) and its wholly owned subsidiary Metaverse Foundation Ltd., Hong Kong (Hong Kong S.A.R.), which promote foundational blockchain technology development and growth of all decentralized applications (Dapps) based on the Metaverse Blockchain and smart contract ecosystem and works towards building a highly connected “smart economy” network powered by BaaS (Blockchain as a Service).
The aim is to enable everyone to easily create their own digital asset or smart contracts through Metaverse built-in programming language – Oracles POL with no prior knowledge of programming required as well as support multiple types of cryptocurrency-based Dapps, including but not limited to financial applications, payment and settlement systems, credit reporting services, insurance management products and services.
Metaverse is a public blockchain that has been built for smart assets with its own global digital identity system in order to revolutionize the traditional methods of storing and managing assets by integrating them into the blockchain through Smart Assets enabling peer-to-peer value exchange transactions without intermediaries or third party information storage entities. Oracles are trusted parties who write data/facts onto the blockchain and these “oracles” could be government agencies, public organizations or companies that collect this data and upload it onto the network via a set of open APIs which work using an internal micropayment token called Entropy (ETP).
Entropy (ETP) is the official currency of Metaverse, which on its own is a free-floating asset registered to the user’s public address. It would be used for doing digital asset conversion and paying fees. ETP can be easily transferred between accounts created on Metaverse or traded at various cryptocurrency exchanges. It is similar to bitcoin (BTC), ether (ETH), XRP, litecoin (LTC), zcash (ZEC) etc., but different in that it has its unique codebase developed from scratch with extra features like Entropy Value Unit (EVU) and Metaversal smart contracts. EVU is value unit of digital assets issued by MVF on Metaverse blockchain and these values are protected by digital cryptography. MVF holds a certain percentage of ETP in the blockchain to ensure the value of its asset registry is protected and smart contracts enable users to register, transfer and trade assets with ease. The greater the number of MVF participants, the more secure the platform becomes as a countermeasure against external cyber-attacks.
The EVU enables digitalized real-life assets like equity securities or derivatives to be reflected into their digital counterpart format onto metaverse blockchain for easy registration and management which would reduce transaction costs significantly resulting in lower barriers for entry and simultaneously generate new market opportunities, all backed by security measures built into Metaverse blockchain technology. Assets recorded on Metaverse Blockchain must first go through an “Oracle” (such as a bank) to get the approval stamp before being processed and mirrored onto Metaverse Blockchain. MVF aims at providing a blockchain-assisted commercialization environment for equity, creditor’s rights and assets digitization from its inception ensuring that newly digitized assets comply with existing regulations in a similar fashion to the existing market demand for token sale regulatory compliance.
On top of all this, ‘super nodes’ can be assembled by combining several oracle nodes together to form a consortium chain, which has more computing power than an individual single oracle. The process of assembling super nodes is overseen by committee members elected democratically from amongst consortium node operators. In turn, other users who participate in verifying transactions on this consortium chain will receive higher commissions as compared to those working on regular chains, thus incentivizing them to help improve the blockchain. ‘Super nodes’ enable smart contracts to be written into the blockchain, further reducing associated costs and bringing more business opportunities within reach of small to medium enterprises (SMEs). It is expected that voters will act as super-nodes if they are responsible for critical business functions or hold a majority of voting rights in an organization, this effectively means business owners should consider running MVF nodes.
Metaverse incorporates digital identity into transactions making it possible to digitize personal identifiable information (PII) onto its blockchain which aims at providing robust security measures against fraud utilizing public key infrastructure (PKI), also allowing everyday users to protect their privacy through pseudonymous identities. To put it simply, Metaverse is a public blockchain deviating from the conventional form of transacting online which is anonymous. This would enable rapid transformations in our society by making digital identity possible to be interoperable across multiple services and organizations without compromising privacy, protecting individual security while fulfilling compliance requirements at the same time.
The MVF team is constantly working towards updating its core technology so that MVF nodes can receive payouts through transaction fees on a daily basis while also optimizing developer experience with each build release. The combination of blockchain, digital assets and smart contracts promises to revolutionize business transactions globally and Metaverse aims to achieve this goal by providing access for smaller enterprises to exploit new opportunities within the ecosystem backed by a reliable governance structure where super-node operators are democratically elected from amongst consortium members.
As an integral part of MVF, MVS is the native token used to establish consensus across all blockchains within the Metaverse ecosystem. It serves as a carrier for all digital asset exchange transactions and ownership transfers along with facilitating transaction fees paid by users of Metaverse Blockchain applications. This would further support the growth of new businesses operating within the ecosystem. MVS would also play a central role in forming a global digital identity system, while at the same time allowing users to remain securely anonymous during transactions.