The virtual world looks much like the real world now. There are gardens, streets, art galleries, cafes, skyscrapers and dog parks in a 3D system. In addition, the entire system is decentralised; you can vote (which will carry a weight proportional to your investment) on the rules that will govern your world. Four years ago, parcels of land in the city were sold for as low as $17. By 2021, the prices were in six figures. Welcome to the ‘metaverse’ of Decentraland, available on the Ethereum blockchain.
Have you ever fancied collecting era-defining artworks, a Monet or a Pollock? Now, for as little as $1, you can earn fractional ownership of highly sought-after digital artworks like the legendary Shiba Inu ‘doge’ meme (valued at around $175 million), or the modern absurdist pieces like ‘The Last Shawarma’ (valuation of six figures), which recreates ‘The Last Supper’ with characters from Marvel’s Avengers series.
All of these are just the tip of the iceberg. There is a digital assets revolution going on—from decentralised finance (DeFi) to non-fungible tokens (NFTs) and the evolving concept of the metaverse—and its proponents say it will remake the world as we know it.
The anatomy of cryptocurrencies
It all started in October 2008, with the release of the first cryptocurrency, Bitcoin, which was 3,000 lines of C++ code compiled by a programmer called Satoshi Nakamoto (most likely a pseudonym, and could be a group of people). In Nakamoto’s peer-to-peer currency paper that introduced Bitcoin to the world, a specific kind of decentralised ledger technology (DLT), called blockchain, was also introduced.
Bu hikaye THE WEEK dergisinin January 02, 2022 sayısından alınmıştır.
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Bu hikaye THE WEEK dergisinin January 02, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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A golden girl
One of India's most formidable beauties passed away earlier this month. The odd thing is she would absolutely hate this obituary; she hated being written about and avoided publicity for all of her nine decades. Indira Aswani was 93 when she died. But anyone who encountered her, even briefly, was in such awe of her grace and poise, and one could not but remember her forever.
The interest in wine is growing delightfully in India
The renowned British wine writer and television presenter Jancis Robinson, 74, recently came to Delhi and Mumbai to reacquaint herself with India's wine industry. This was the Robinson's fourth visit to India; the last one was seven years ago. On this trip, Robinson and her husband, restaurateur Nicholas Lander, were hosted by the Taj Hotels and Sonal Holland, India's only Master of Wine.
United in the states
Indian-Americans coming together under the Democratic umbrella could get Harris over the line in key battlegrounds
COVER DRIVE
Usage-driven motor insurance policies offer several benefits
GDP as the only measure of progress is illogical
Dasho Karma Ura, one of the world's leading happiness experts, has guided Bhutan's unique gross national happiness (GNH) project. He uses empirical data to show that money cannot buy happiness in all circumstances, rather it is family and health that have the strongest positive effect on happiness. Excerpts from an interview:
India is not a controlling big brother
Prime Minister Tshering Tobgay considers India a benevolent elder sibling as the \"big brotherly attitude\" is happily missing from bilateral ties. He thinks the relationship shared by the two countries has become a model of friendship not just for the region, but for the entire world. \"India's attitude is definitely not of a big brother who is controlling and does not allow the little brother to blossom and grow,\" says Tobgay in an exclusive interview with THE WEEK.
Comrade with no foes
Lal Salaam, Comrade Yechury-you were quite a guy!
Pinning down saffron
In her first political bout, Vinesh Phogat rides on the anti-BJP sentiment across Haryana
MAKE IN MANIPUR
Home-made rockets and weapons from across the border are escalating the conflict
SAHEB LOSES STEAM
Coalition dynamics and poor electoral prospects continue to diminish Ajit Pawar's political stock