Understanding Openverse Network BTG: A New Bridge in the Blockchain World

Bittime -  The crypto world continues to evolve rapidly, introducing a variety of innovations to strengthen connectivity between blockchains. One project that is starting to attract the community’s attention is Openverse Network BTG, which is touted as a major step toward a new era of the “internet of value”. 

Through the Layer 0 concept, Openverse aims to simplify cross-chain asset transfers, making them as easy as sending an email. This article will cover what Openverse Network is, how it works, and the important role of Bitgold (BTG) within its ecosystem.

Basic Concept of Openverse Network

Openverse Network is a blockchain-based Layer 0 network that serves as a hub connecting different blockchain ecosystems. If Layer 1 networks like Ethereum or Bitcoin focus on handling transactions and smart contracts, Layer 0 acts as the communication foundation across chains.

This concept was first introduced by Dr. Bright in his 2014 publication titled The Public Currency Issuance Mechanism. In that work he introduced several protocols such as Bitcurrency (VRC10), Privcurrency (VRC11), Bitsecurity (VRC12), and the PCIM (Public Currency Issuance Mechanism for Competitive Markets). These ideas are now being realised in the form of the Openverse Network.

Read also: Cronos: Ethereum Virtual Machine (EVM)-Compatible Blockchain from Crypto.com

The main objective of Openverse is to build an open cross-chain system that enables the movement of value — such as tokens, NFTs, or messages — between blockchains and between blockchains and the traditional internet. This approach removes the interoperability barriers that have long been a major issue in the crypto space.

Interestingly, Openverse is compatible with EVM (Ethereum Virtual Machine) blockchains, enabling interaction with popular networks such as Ethereum, Polygon, and BNB Chain. This is an important step toward a more connected and efficient Web3 world.

Ecosystem and Technology Behind Openverse Network

In building its network, Openverse Network uses Delegated Proof of Stake (DPoS) as its consensus mechanism. This choice is made to reduce energy consumption and support environmental sustainability. Through DPoS, transaction validation is performed by community-elected representative nodes, making it faster and more efficient compared to Proof of Work (PoW).

The Openverse network consists of thousands of validators and backup nodes distributed globally. Each node functions as a value-based internet root server that strengthens the cross-border blockchain ecosystem. In its token distribution plan, various parties such as the core team, community, organisations, and even government institutions play roles as primary custodians of the system.

Read also: What Is Vanguard (VWA)? RWA Token in the Solana Ecosystem

Openverse is also designed as Web3 infrastructure that supports full digital ownership by users. As such, the value of each piece of content or digital asset will be distributed fairly according to agreements between users. This vision aligns with the Web3 ethos of decentralisation and transparency.

Aside from serving as infrastructure, Openverse Network also introduces Bitgold (BTG) as the economic core of its network. BTG is used to create and support various digital assets operating within Openverse, ensuring transactions and interactions run smoothly.

Bitgold (BTG): The Economic Foundation of Openverse

Within the Openverse system, Bitgold (BTG) serves as a global base asset. Its role can be likened to gold in traditional financial systems or land that underpins the construction of digital assets on top of it.

BTG has three main functions that make it a key part of the ecosystem:

• As Value Endorsement
  By staking Bitgold, users can create a variety of digital assets such as Bitcurrency, Privcurrency, or Time-Space Tokens.
• As a Medium of Exchange
  All assets in the network can form trading pairs with BTG, creating a decentralised and universal exchange system.
• As a Credit Guarantee
  A user’s value and credibility increase with the amount of Bitgold they hold, creating a trust-based economic system.

This system provides value stability and encourages organic growth of the Openverse ecosystem. With DPoS support and an efficient Layer 0 design, the network could become the foundation for Web3 and the Internet of Value — where value can move freely, securely, and quickly around the world.

Read also: Getting to Know ALEO: Next-Generation Privacy Blockchain with Zero-Knowledge Technology

For crypto enthusiasts, understanding projects like Openverse Network BTG can be a good first step in learning the direction of future blockchain evolution.
And if you want to explore the crypto world more deeply, now is the time to join a trusted community.
Visit Bittime.com to learn, discuss, and monitor the latest digital asset developments.

Conclusion

Openverse Network BTG appears as an important solution amid blockchain fragmentation. With the Layer 0 concept, DPoS system, and a strong Bitgold (BTG) ecosystem, the project aims to build a foundation for a more open, efficient, and sustainable Web3 ecosystem.

If the “internet of value” vision truly materialises, Openverse could become one of the main infrastructures in the new digital era. If you want to follow developments of Web3 projects like this, sign up at Bittime.com to gain the latest insights and opportunities in the world of crypto assets.

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FAQ

What is Openverse Network BTG?

Openverse Network is a Layer 0 network that connects multiple blockchains and enables cross-chain value transfer with Bitgold (BTG) as its main asset.

Who founded Openverse Network?

The project was developed by a team led by Prof. Stone, together with Florin Avramoaica and David Dobrovitsky, who have experience in Web3 and blockchain infrastructure.

What is the main function of Bitgold (BTG)?

BTG is used as the base asset for issuing digital tokens, as a medium of exchange, and as a value guarantor within the Openverse ecosystem.

What advantages does Openverse have over other blockchains?

Its strengths lie in cross-chain interoperability, energy efficiency thanks to DPoS, and compatibility with various EVM networks.

How can I participate in crypto projects like Openverse?

You can start your Web3 journey by creating an account on Bittime.com and learn about the various assets and other blockchain projects.