Technology

Technology used in the oxyO2 project

· Blockchain

Blockchain technology is defined as a decentralized chain of distributed ledgers that records the provenance of a digital asset. By inherent design, data stored on a blockchain is unalterable, which makes it a legitimate disruptor for industries like finance, cybersecurity, etc.

· NFT (non-fungible token)

NFT is a digital asset that represents physical objects like pictures, art, music, videos or any other multimedia files. They are bought and sold online mostly using different cryptocurrencies. NFTs are generally encoded with the crypto and integrated on blockchain networks.

· Metaverse

Metaverse is defined as a simulated digital place that uses augmented reality and virtual reality combined with blockchain technology. It takes the the concept of social media to create virtual spaces for maximizing user experience of real world.