Paracosm – Make Virtual Reality accessible by Everyone
To bring to life this huge idea, the group united several dedicated teams: gaming and IT enthusiastsfrom around the world. Each team is engaged in one of the areas needed to build the infrastructureof Paracosm platform: from game design and marketing to mathematical modeling and development of distributed ledger technologies. Today, the Paracosm group includes companies from Hong Kong, Canada, Cyprus, Lithuania, Ukraine and Estonia.
Paracosm group of companies has emerged from an experienced group of IT, DLT and gaming evangelists. We have deep roots in DLT and IT industries with a unique product – IOTA: the first open-source distributed ledger that is being built to power the future of the Internet of Things with feeless microtransactions and data integrity for machines. Today, with a huge expertise, technological knowhows and the dedicated team we move forward to our evergreen passion – game development on the edge of innovations .
Sergey lvancheglo, IOTA co-founder, has a big record of successful projects. He created Nxt before co-founding IOTA, one of the flrst projects to go beyond the focus of Bitcoin with added functionality on the blockchain. He was the first to implement full Proof-of-Stake. Sergey also co-founded a stealth distributed computing hardware IP company with David Sønstebø back in 2014, which was the precursor for the IOTA project. Today Sergey’s projects demonstrate high capitalization and development rates. $1.3 BLN MIOTA Marketcap / $65 MLN NXT Marketcap
What is Paracosm
Paracosm is a finely tuned virtual universe that can be created from scratch and managed by one person, both independently and with the help of other people. Anyone who has access to the Internet and equipment for virtual reality can create his own paracosm. Thanks to the user-friendly intuitive interface and variety of tools, users can create paracosm universes of any scale, with set any set of rules and game mechanics, stories, setting, and much more.
At its core, Paracosm is an operating system for development and management of software and hardware solutions for virtual reality plus related equipment and IT infrastructure. Paracosm is the basis and open toolkit for creation of “applications” of any scale and ways of use: from simple casual programs to full-scale independent game universes with their own economy and multi-million community.
To create the paracosm platform, research and development is handled in severaldirections at once:
- Development of the fundamental principles of work and development of the Paracosm platform together with the community
- Development of a pilot game universe Post Scriptum
- Creation of project IT infrastructure
- Development of a new hardware and Virtual / Mixed/ Augmented Reality engine
- Evolution of IOTA distributed ledger technologies
- Creation of models and engines for XR equipment
- Internet of Things technology developments Development of the trinary processor JINN
The Paracosm platform is based on such innovative technologies as the JINN trinary processor, the distributed ledger technology IOTA, our own XR-engine and other that allow to create a stable, productive and transparent platform with unlimited development potential. Thanks to the final IOTA protocol, which will be used within this project for the flrst time, Paracosm platform not only allows to create your own universes and open their doors to all interested users, but also makes it possible to turn digital assets into real ones. Any digital asset created in any paracosm has not only in-game value, but can also have real value and price depending on characteristics, usage history and other parameters – and can be exchanged for assets from other game universes (paracosms), as well as crypto and flat currencies throughthe markets of our partners.
While the infrastructure components of the paracosm platform is being developed, the basic principles of evolution, creation and operation of the game universes are implemented as part of the pilot project post scriptum paracosm.