Question 1

What is Metaverse (ETP)?

Accepted Answer

Entropy (ETP) is Metaverse's Token. This name is inspired by the second law of thermodynamics, which describes the chaos in a system's microscopic particles. 
Metaverse (ETP) is an open-source, decentralized, and interoperable platform designed for programmable digital assets and digital identities. It is built on the Substrate framework, which is known for its scalability and capability to connect decentralized applications, services, and other independent blockchains. Metaverse utilizes a Proof of Work (PoW) mechanism for block authoring and Grandpa finality, avoiding a voting or validating committee as in Proof of Stake (PoS) systems. This mechanism aims to mitigate potential attacks and ensure a uniform distribution of mining rewards​​​​​​.

Question 2

What is Metaverse (ETP) used for?

Accepted Answer

Metaverse (ETP) allows for the creation and deployment of smart contracts using tools like MetaMask, Remix, and Truffle, supporting Solidity and EVM bytecode. It facilitates the management of digital assets or MSTs (Metaverse Smart Tokens), which are decentralized and traceable smart properties that can be registered, transferred, and used in various ways, including as collateral. The platform also supports self-sovereign identity ledgers via the KILT protocol, enabling secure personal data management. Additionally, it introduces MITs (Metaverse Identifiable Tokens), a set of standards for non-fungible items like artwork, ensuring their uniqueness and identifiable ownership. The ETP token itself is used to measure the value of smart properties on Metaverse or as collateral in financial transactions​​​​​​​​​​.