Decentraland is a virtual world app that can be accessed through a computer, mobile phone, or even a VR helmet. The entire world is divided into parcels, the contents of which are written into a blockchain. With complete control over their parcel, the owner can do with it as they wish. With Unity, the imagination has no limits. In Decentraland we can see brothels, palaces, nightclubs, or bitcoin casinos.
Another interesting feature is that land can be traded. They’re already worth tens of thousands of dollars. Every trade is written to the blockchain, so no one can’t steal or cheat.
The community around the cryptocurrency MANA has some doubts about the decentralization and security of thpplication. Of course, blockchain-based software can be decentralized. All the more so because it is an ERC-20 blockchain. That is a blockchain whose parent is the Ethereum network.
The problem starts with the hardware. Some feat of perfect engineering that computes and keeps the entire blockchain afloat. The developers of the Decentraland app had no choice but to centralize their project in their own hands because not enough other users were offering to join. There are rumors that they have leased Amazon Web Services.
Until users connect their computers to the network, we have a technically centralized project. Now, how do we regulate it so it doesn’t become complete anarchy? Remember, we need to think about the cost of land.
Content regulation in Decentraland
There is an interesting way of regulating content in the digital world. Instead of a central authority banning certain builders from the platform, each user can block individual builders themselves. This way, they will not see their creations.
Everyone else will see them, of course. The plots and their contents are written into blocks within the blockchain.
The possibility of reporting exists. However, instead of a central authority, the people will be the judge. Users will decide how and if a reported account will be punished.
The community holds all the power through the Agora system. Consensus is formed with the help of the held MANA. The community decides absolutely everything, including some development issues.
It is All About the Money
Regulation of inappropriate content is also helped by the fact that land in Decentraland is quite expensive. As of March 2021, on average, one parcel of LAND in Decentraland sold for about 6,900 MANA, which equates to approximately $5,800.
It is downright irrational to reduce the price of your land by having an inappropriate building on it. In the first few months, land prices have been skyrocketing. Many people quickly realize that they could make money.
An example of this is undoubtedly the virtual casinos that are being developed in this new world on the Decentraland Games platform, where three virtual casinos already exist. It seems only a matter of time before licensed online casinos such as 7Bit Casino, which has long been focused on the world of cryptocurrencies, also venture into this virtual world.
At first glance, Decentraland looks like a paradise for those seeking complete virtual freedom. The developers have relinquished control of the world to the inhabitants of the blockchain world.
S war rages over who can maximize their profits. An acceptable economy with the cryptocurrency MANA guarantees opportunities for anyone who embraces it. Blockchain guarantees that all rules will be followed.
On the other hand, the game’s servers are centralized and can easily become targets of governments or regulators. Until the network itself is decentralized, the project is fragile and could end at any time.