A Survey on Decentralized Metaverse Using Blockchain and Web 3.0 Technologies, Applications, and More

Abstract

This survey delves into the convergence of blockchain, Web 3.0 technologies, and the decentralized metaverse, analyzing their combined effects on virtual experiences. The study meticulously examines the decentralized metaverse’s architecture, intrinsic properties, and transformative potential. Central to our analysis is the role of blockchain technology in addressing scalability issues and presenting practical applications in virtual real estate, gaming, and social interactions. Furthermore, we explore consensus mechanisms such as Proof of Work (PoW) and Proof of Stake (PoS), emphasizing their significance in the decentralized framework. The survey also investigates governance models and exceptionally Decentralized Autonomous Organizations (DAOs) and identifies associated challenges, including data security threats and possible mitigation strategies. By incorporating case studies on platforms like Decentraland, Vault Hill, and The Sandbox, we illustrate real-world implementations and emerging trends within the decentralized metaverse. This research highlights the profound implications of decentralized technologies on digital interactions, economies, and governance, marking a pivotal shift towards the Web 3.0 era. It underscores the potential for these technologies to redefine ownership, identity, and social engagement in virtual environments. Moreover, the paper outlines future research opportunities, encouraging further exploration into the integration and advancement of decentralized systems within the metaverse. The survey provides a comprehensive overview of the decentralized metaverse, supported by blockchain and Web 3.0 technologies. It offers valuable insights into the challenges and opportunities within this rapidly evolving domain, paving the way for innovative applications and research directions to shape the future of digital interaction and governance.