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    QONEQT in NFT Updates

    15-Sep-2022 12:37 PM


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    IMMUTABLE X: LAYER 2 SCALING SOLUTION FOR NFTS

    Ethereum, the number one blockchain network on which most NFTs and play-to-earn games operate, has limitations regarding scalability. This layer 1 blockchain can only process between 5 and 15 transactions per second (TPS), resulting in high transaction costs and gas fees.

    The upcoming transition of Ethereum to the proof-of-stake consensus, The Merge, will not solve the scalability problem. Because its primary function will be to decrease energy consumption, not to expand the network capacity. Consequently, the transaction speed will mostly remain the same.

    This is why many layer 2 technologies emerge that run on Ethereum to help scale it. Immutable X protocol is one such solution, and its focus is on accelerating NFT-based applications.

    What are Ethereum rollups?
    Immutable X uses rollups to increase scalability. Rollups decrease transaction costs by batching a large number of transactions into one single transaction.

    There are two kinds of rollups: optimistic and zero knowledge (zk). The former assumes all transactions are valid until proven otherwise. A fraud-proof mechanism takes place only if a network participant suspects fraudulent activity.

    Immutable X deploys zk rollups. These rollups are always verified before the transactions are sent to the Ethereum mainnet through a “validity proof.” A method called Zero Knowledge Proof is used for the validation.

    Immutable X partners with Starkware for the implementation of zk rollups. As a result, the protocol can manage 9,000 NFT transactions per second, ensuring many benefits for game applications.

    Implications of Immutable X solution for web3 games
    Leveraging its own technology, Immutable, the company behind the Immutable X protocol, publishes some of the most popular web3 games, such as God Unchained and Guild of Guardians.

    Immutable X provides the same tools to other web3 developers to build their games by enabling gas-free minting without sacrificing security. This way, minting millions of NFTs for free is possible, and games can be built in hours. In addition, NFTs can be distributed to multiple marketplaces efficiently thanks to Immutable X’s orderbooks.

    It also bears mentioning that Immutable X supports all desktop Ethereum wallets, eliminating the need for switching networks as opposed to the case with other scaling solutions, like sidechains. This creates a much better user experience for gamers because the NFT transaction process is much less complicated.
    Source: NFTNewsToday.com
    #NFTs