Blockchain for the Metaverse: State‐of‐the‐Art and Applications
Pawan Hegde, Rajeswari Chengoden, Nancy Victor, Thien Huynh The, Sweta Bhattacharya, Praveen Kumar Reddy Maddikunta, Thippa Reddy Gadekallu, Quoc‐Viet Pham · 2023
Various innovations in computer science and engineering have revolutionized the processes involved in human interaction and social transactions. The Metaverse is one such technology that creates a virtual world replicating all the opportunities similar to the real world. In simplified terms, the Metaverse is a digital virtual space developed using three-dimensional technologies to mimic the real world through virtual reality technologies. The Metaverse has tremendous potential to improve human sustainability benefiting the entire ecosystem. In this chapter, the authors first present the fundamentals of blockchain and discuss how blockchain can be used to solve major challenges in the Metaverse. Then, they provide various use cases of blockchain in the Metaverse, including privacy, security, traceability, decentralization, ownership, governance, and trust accountability. Next, the authors demonstrate the use of blockchain in the Metaverse via several real projects.