An article to understand the cross-chain protocol X Protocol on Polkadot: an effective way to link applications to the Metaverse based on web3.0
1: The concept of metaverse
Metaverse (Metaverse) is defined as "a collective virtual shared space created by the fusion of virtual enhanced physical reality and physical persistent virtual space, including all virtual worlds (VR), augmented reality (AR) and Internet (Internet) The sum.” It is seen as a parallel multiverse, describing a magical world for people to interact with various software in three-dimensional space with avatars.
What is easy to understand is the game "Oasis" in the movie "Ready Player One" directed by director Steven Spielberg. It has built a complete social form and business norms for all kinds of players. In the real world, you can maintain the same work, life and social interaction, shopping and transactions, become who you want to be, and do whatever you want to do.
The realization of the metaverse requires technical support in many dimensions. When various economic activities are introduced into the metaverse, the security of funds and the circulation of transactions become the main research directions. Users should be able to freely shuttle in the mysterious metaverse Any scenario and platform, but the ideal state is limited to the current lack of infrastructure. People entering the metaverse lack a mature personal digital identity system.
With the necessary core technologies of the metaverse, such as cross-chain NFT and DeFi protocol, X Protocol has attracted the attention of the market. The sustainable development and careful planning and positioning hidden behind it have great potential to become a part of the metaverse.
Two: Understand X Protocol
X Protocol, the underlying cross-chain protocol on Polkadot, tries to design a Web3.0 application system that cleverly integrates NFT circulation and cross-chain DeFi, relying on the personal digital identity confirmation and rich character creation brought by X Protocol, through encrypted social currency POT Construct the metaverse.
Based on the research and development of Substrate architecture, X Protocol is Polkadot's ecologically decentralized cross-chain protocol. It realizes asset cross-chain management and data aggregation prediction analysis among various heterogeneous chains through X cross-chain bridge, creating a blockchain The Metaverse value network provides a decentralized, safe and fast bridging solution for the industry.
On the prediction market X Predict Market, the generated NFT will be used as an equity card to bind the ownership of the proposal, and the pledge of Token is open during the prediction, which ensures the validity of the prediction data, and uses the native token POT as the only circulation in the entire ecology Token, used in system transactions, payments, transfers, rewards and other scenarios.
At present, X Protocol has successfully used the X cross-chain bridge to realize the flow processing of assets on the ETH, BTC, and BSC chains. It also launched the X Predict Market with practical applications in the prediction market. The unique data analysis machine on the chain improves the accuracy of prediction data. accuracy. Users can generate NFT for each prediction proposal, and can trade in the NFT trading square created later.
In March this year, X Protocol successfully passed the Grant test of the Web3 Foundation, and completed all milestone development tasks in early August. It is reported that the project is the tenth team in the world to complete all Polkadot milestones. In June, X Protocol's test network was officially launched, and the test network reward plan was opened simultaneously for developers and users. Through X Protocol, developers and teams can focus on their areas of expertise and take advantage of the easy-to-use, high-scalability, interoperability A revolutionary ecosystem that seamlessly links applications to the future Metaverse world and drives innovation as the market evolves.
Art is not a lofty castle in the sky, it is more suitable to become the flavoring agent of everyone's life. X Predict Market is coming towards this goal, following the shareholder style of Web3, and going deep into the linkage between NFT and the community. The NFT image in the prediction market can be created by recruiting artists or the community, and uploaded and generated through DAO governance.
At present, the private round financing conducted by X Protocol has come to an end. When the private round is over, the team will decide whether to carry out another round of community financing or launch IDO on the DODO and DuckDAO platforms according to the market heat.
Three: main features
The ideal application scenarios of X Protocol mainly include five directions: cross-chain asset processing, market forecast analysis, NFT circulation, cross-chain DEFI, and multi-social interaction. The huge layout thus presented will be integrated into an important component of the X Protocol metaverse.
1. Data
The processing and analysis of data is another core and advantage of X Protocol. In the technical progress stage, X Protocol plans to connect to Polkadot main network and Rococo, Kusama and other test networks to realize BTC, ETH, Tron, EOS, Solana, BSC , Heco and other heterogeneous public chain assets for cross-chain processing and analysis. At the same time, in order to protect the privacy of all users, X Protocol adopts a decentralized end-to-end information encryption transmission method, which is more suitable for the future state of the metaverse for information transmission, which will make the metaverse created by the project safe And the free social environment allows users to feel the immersion brought by low latency at any time to explore the metaverse civilization.
2. Application
X Protocol integrates different ecological applications into the Web3 system through continuous integration. With the help of blockchain features, the release power and influence of Web3 have reached a critical value. At this time, all applications will be able to use the metaverse The huge potential to come, and more new possibilities. Whether you are looking for a breakthrough or an application that is in urgent need of transformation, X Protocol provides a one-click migration toolkit for DAPP. Developers can easily migrate DAPP applications to the Metaverse with one click, which greatly saves the time and cost of repeated development. cost, and allow users to experience all DAPP services in the X Protocol ecosystem.
3. Transaction
X Protocol innovatively develops the X cross-chain Relay solution, and sets up Merkle Mountain Range (MMR) encryption algorithm, Optimistic Whistleblower System (OWS) and other components, so that any historical block can be verified through the latest block, and the storage occupation Less, on-demand use, lower cost. When cross-chain assets are transferred, the security of assets is further guaranteed by setting up the Bridge node and Relayer incentive models. At the same time, X Protocol builds a mapping adapter to map NFTs of different standards to its own network. Since the X Protocol heterogeneous chain bridge does not rely on collateral, it supports financial NFTs for small and micro high-frequency transfers, making user transactions more convenient. Simple.
4. Social
X Protocol establishes a unique identity for users, replaces ownership in the metaverse with NFT, and records all online behaviors. In the metaverse created by X Protocol, users can not only use this identity to complete social, business and other activities in one metaverse, but also shuttle between metaverses, adding a touch of authenticity to the virtual world. At the same time, X Protocol gives users the right to continuously improve their identity shaping, thereby broadening their social relationships, allowing them to meet more like-minded friends without being restricted by language or region.
5. Entertainment
The Metaverse of X Protocol has many interesting entertainment methods, including leisure scenes and online game applications. You may wish to imagine that in this virtual technological world, you can go to the concert hall to listen to the top symphony, go to the Watch a star's concert, or play a game with many friends. This is a multi-dimensional space of the future, and there are more and more advanced ways to choose from than the two-dimensional space we live in. Different types of users can find their own entertainment in X Protocol and enjoy it, so as to attract more users in the entire ecosystem to participate in depth.
X Protocol has created a decentralized metaverse world by connecting different links, using advanced technology and excellent real experience, and has become a pioneer who leads people to pursue and explore the end of the Internet and the secrets of the boundary of the universe.
Four: Partners and latest developments
According to the latest Twitter news, X Protocol has reached a cooperation with SEERLABS (Prophet Laboratory), and the two parties will jointly build a diversified decentralized global community and start to seek symbiosis between different metaverses. With the financial help of the above-mentioned investment institutions, X Protocol will determine to participate in the auction of the parachain card slots of Rococo and Polkadot.
Next, the team will complete the access of more public chains, and develop cross-chain DEFI applications around the cross-chain bridge components, such as decentralized lending of cross-chain assets, cross-chain aggregate income machine gun pool, etc., to bring more benefits to the Metaverse world. Go for more fresh gameplay.
Protocol Roadmap Upcoming Features
predictive mining
Staking
NFT trading market
Community DAO Governance
Reporting and Supervision Mechanism
Social Forum and Group Chat System
Support more DeFi applications
New UI and UX interface
Five: Connections between different universes
It will take at least a few decades before the day when the metaverse is truly realized. By improving its own hardware and software infrastructure, as well as strengthening technological breakthroughs, X Protocol can freely jump from cross-chain stability to the huge economic system of the Metaverse, and implement and improve various support areas through a series of mechanisms to improve the reality of digital identity Experience and user immersion, etc., and finally attract more users to get used to activities in the Metaverse.
This is a new economic transformation. It has to be said that X Protocol, which is constantly exploring, has seized this opportunity first, realized the connection between different universes, and created extremely diverse business application scenarios for this. It is believed that with the help of X Protocol, the Metaverse will become closer to reality. Equipped with the express train of blockchain technology, people will witness the arrival of the Metaverse faster.
