Decentraland is a decentralised virtual reality platform powered by the Ethereum blockchain. Users can create, experience, and monetise content and applications in an open VR ecosystem.
The Decentraland MANA token is an Ethereum-based ERC-20 token that powers all economic transactions within the Decentraland platform. Each parcel of LAND comes with a corresponding ownership of MANA. The MANA token allows members of the community to purchase and own 'parcels' of virtual real estate, which they can later access and monetise. This gives users full control over the applications that they create on the platform.
The Decentraland Blockchain is a direct representation of the current LAND in the virtual world. The Blockchain records parcels, prices, and transaction details. Every transaction on the platform requires a payment in MANA.
Decentraland uses a modified version of the OpenZeppelin framework for its smart contract design and backend implementation.
Decentraland's infrastructure layer consists of the Earth itself, upon which the platforms LAND parcels are located. These parcels are 3D regions defined within a grid of x & z co-ordinates spanning -15 to 15 in both directions.
Each parcel of land is 100 square meters (roughly 1,080 square feet), and they are subdivided into 9 equal parts along the x & z axis. These sub-divisions are called "voxels", which are 1 meter squared.
The official Decentraland SDK is needed to create content (or "experiences") for the Decentraland platform, and this is currently available as a command-line client.
Decentraland was founded by Ariel Meilich and Esteban Ordano. Meilich was previously the project lead for the company and Ordano was former tech lead. Both co-founders have since stepped down from their lead roles and are now advisors for Decentraland.
Recently, the company introduced the Decentraland Foundation. The Foundation sets up and oversees the content team, and holds property rights over Decentralised intellectual property, trademarks, web domains and more.
Decentraland is unique because it aims to advance the Ethereum development and continue leading how blockchain-based project management and governance can benefit community-driven projects.
Decentralised has said that they will continue improving the protocol, the reference client, and the core smart contracts of the platform.