Metaverse is a decentralised platform built on blockchain technology. It provides digital assets and identity services. These digital assets are like the Bitcoin, Ethereum, and Litecoin of Metaverse except they are named ETPs.
The ETP is the only token issued by the Metaverse blockchain. It is a general-purpose cryptocurrency used to help build a public blockchain ecosystem as well as providing liquidity for digital assets exchanges.
In addition to offering a digital asset management system similar to Ethereum’s, Metaverse also provides its own virtual goods and services system. Users of the digital assets can buy or sell their assets through Metaverse’s MVS (Metaverse Asset) – making it one of the few Blockchain-as-a-Service platforms out there.
The first thing that makes Metaverse different is the Digital Identities that it supports. Unlike Bitcoin or Ethereum, Metaverse has both on-chain and off-chain identities which gives users more privacy protection.
Metaverse is also different in how it handles transactions. It does not use Proof of Work (PoW) like Bitcoin or Proof of Stake (PoS) like Ethereum to process transactions but instead uses a contract service layer which allows for much faster transaction processing times.