NetVRk Project chooses to utilize Blockchain Technology
Introduction
Just like most businesses and companies are integrating the use of blockchain technology, NetVRk is, likewise, choosing to adopt it. This is because of the varied services and extended opportunities offered by technology in the virtual reality world. We can agree that the VR industry has witnessed remarkable growth in recent years, however, there are still several challenges affecting the industry such as traction and mass adoption. Experts and seasoned professionals believe that the technology of blockchain can resolve these pending issues and deliver a seamless solution. The application of blockchain technology into the VR industry will enable certain efficient and effective features such as data immutability, advanced security, perfect record-tracking, and ownership of VR content in a safe and secure environment.
What Exactly Is Blockchain?
This technology, which has been developed over a decade ago, is a distributed ledger technology that enables safe storage, tracing, and immutable data in a decentralized system. Client details, including payments and transaction logs, are stored in a chain of digital blocks. The chances of deleting or tampering with data once it is entered into a block are zero, as one singular attempt can affect the entire chain of blocks. This assures clients that all sensitive information is intact and remains valid, it also removes the chances of data mishandling or falsification. Interactions and agreements between two or more parties, which may include the users, businesses, and the platform is possible with the adoption of the smart contract feature.
Why Blockchain?
NetVRk adopts the technology to offer its clients a special opportunity, where they can participate in the virtual reality industry while being capable of developing varied cities, spaces, items, and universes while trading, exchanging, and owning them. Adopting the immutability of blockchain enables clients of the NetVRk network to build their VR content and maintain the ownership which will be securely recorded on the blockchain ledger. Users will also have the privilege of selling or leasing their contents to other community members and generate money. NetVRk adopts the use of blockchain because it creates multiple benefits to its users, besides the excitement in VR and content creation. They also enable platforms and businesses to create awareness and advertise their services and products to their customers.
Integrating blockchain on NetVRk will activate an environment that is safe and secure for virtual trading between merchants and offer complete legal compliance and data immutability. Smart contracts on the network will also allow transparency and fast processing in all payments and transactions.
The NetVRk network adopts the use of blockchain technology to provide the following benefits to its clients;
Transparency:
Provision of a transparent tracking of all transaction history, which are recorded on the distributed ledger, and accessible to all members of the community.
Immutability:
Promoting trust and reliability on the platform, as no user has the right to tamper or delete any information on the network.
Cost Efficiency:
The incorporation of smart contracts reduces unnecessary expenses incurred by the use of paperwork, auditing, and third parties.
Improved Security:
All personal data, sensitive information, and users’ assets are protected and stored with a hash value, such that only users with authorized access can view them.
Projects Links
Website: https://netvrk.co/
Whitepaper: https://whitepaper.netvrk.co/
Telegram: https://t.me/NetVRk_Official
Facebook: https://www.facebook.com/NetvrkVR
Instagram: https://www.instagram.com/netvrk
Twitter: https://twitter.com/NetVRk1
Discord: https://discord.gg/baAhdCHUnb
Writers Links
Bitcointalk Username: Pullorient
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2767518