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Talking about the current ecological development status of NFT public chain

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Ethereum will still be the smart contract platform that has the strongest empowerment effect for the NFT concept. The mainstream NFT protocols are also based on the Ethereum standard. However, the slow transaction speed and high gas fees on Ethereum make

Original title: " Talking about the current ecological development status of NFT public chain "

Original author: Topoblock

May 2021, in NFT Among the top 20 projects with trading volume, more than 70% of them come from ETH, NBA Top Shot, which has long dominated the NFT trading rankings on Flow, fell to third place. NFT projects on Polygon are also making their debut, such as the NFT project with the largest number of users on Polygon Aavegotchi , in the downward trend of BTC still maintained The daily transaction frequency is about 5000 times.

Talking about the current status of NFT public chain ecological development

Data sourcecryptoslam.io

ETH

Currently the most active and oldestNFT public chain The ecology is undoubtedly Ethereum, 5Top 10 Among the projects, there are a total of 6 projects based on Ethereum. ERC721, ERC1155, ERC998 These classic NFT protocol standards are all based on on top of Ethereum. At the same time, as shown in the figure below, Ethereum5monthsgas Compared with 4 months, the fee has decreased, but the average handling fee can still reach about 20 US dollars per transaction , is still not friendly to high-frequency trading. The low performance of Ethereum is specifically reflected in the following aspects in the field ofNFT:

l The cost of minting is extremely high: sometimes the cost of minting even surpassedNFT the price itself.

l Transaction Procedures High fees and slow speed: Most of the Ethereum-based NFT trading platforms will pay for both buying and sellinggas gas fees even for removed works. In addition, the transfer speed of the trading platform is also very slow, and it often takes 3-5 minutes for a transfer to be confirmed.

l User Experience Poor: in In the field of games, every operation of the player role needs to interact with the contract, and WebCompared with the game, there is a huge gap, the user experience is poor, and it is impossible to retain and expand new users.

Talking about the current status of NFT public chain ecological development

Data sourceycharts.com

Polygon

In order to solve the above problems, the NFT ecology on Ethereum thinks of expansion. The Polygon side chain is currently a relatively successful expansion solution for ETH. Polygon relies on technical advantages. The transaction speed of Dapp is very fast and the transaction cost is very low. Each transaction is about 0.00004USD, and Polygon is compatible with EVM and Metamask.

CurrentPolygon NFT< In the span> ecology, most NFT projects are migrated from ETH, such as the NFTTrading PlatformOpensea、DeFi head lending platformAaveGhost collection game under the ecologyAavegotchi, virtual world platformDecentral Games, game developerAnimoca racing car GamesF1 Delta Timeetc. Among them, Aavegotchi is currently the largest number of users on PolygonNFT Project, in the BTCdownward trend, it can still maintain a daily transaction frequency of about 5000times.

Talking about the current status of NFT public chain ecological development

butPolygonsidechains It also has certain disadvantages, such as cross-chain operation is extremely troublesome and The cross-chain time is very long. It takes about 7 days to cross-chain from matic walletback to Ethereum. Currently supports Polygon ExchangeThere areAscendEX(Bitmax)andOkex , which can save a lot of time and cost for cross-chain operations.

Flow

Flow is a brand new Layer 1 blockchain developed by the Crypto Kitties team Dapper LabsCreated, the team has pioneered the ERC721 NFTstandard format, in the field of NFT belongs to the originator level. In terms of public chain technology, Flow's expansion principle lies in node division and pipeline architecture, thus ensuring high transaction speed and throughput of the entire network.

Of courseFlow The biggest advantage of the public chain at present is its market advantage ——Jiang Liu’sIP, out of the circle gameNBA Top ShotSince its launch until today, it has been occupying the first place in the NFT trading volume leaderboard. In addition to NBA, the current heavyweight partners of Flow also include UFC, NFL, music companyWarner Music, famous game developer span>Animoca, Ubisoft, SamSung，NFTtrading platformOpensea wait.

Talking about the current status of NFT public chain ecological development

But so far FlowThe projects on Flow are still very rare, the entire ecology has not been built yet, and there is a lack of liquidity Solution, and some other supporting public chain infrastructure, NBA Top Shot also due to AML/KYC withdrawal The speed is slow. But these problems will be solved one by one sooner or later. For example, the multi-chain ecological wallet that just completed fundraising this yearBlocto, of whichBloctoswap will be the first AMM on the public chain of Flow. While the huge wealth effect brought by powerful IP, the ecology of Flow driven by funds will also develop is getting better and better.

Coming SoonNFTPublic Chain--Efinity

AlthoughETHis a lot of excellentETH span>NFTThe place where the product was born, but it is limited by the low-frequency contract interaction speed of Ethereum and Polygon itself and the expensiveness of Ethereum Neither Ethereum nor Polygon can be said to be the most suitable soil for the development of NFT. The new NFT public chainFlow has higher throughput and transaction speed, and is more technically suitable for NFT also has strong IP support, but what cannot be ignored is that in the blockchain The metaverse also needs communication.

Efinityis a scalableNFT built on Polkadot Cross-chain network, built by cutting-edge blockchain technology company Enjin , the blockchain technology behind it The company Enjin was founded in 2009 by Maxim Blagov and Witek Radomski . Their first product,Enjin Network, and over the next ten years, grew to more than 20 million gamers worldwide. At the same time,Enjinteam is alsoEthereum ERC-1155 NFT Standardcreator.

According to its white paper, Efinity aims to become span>NFT highway, instead of ordinary computing blockchain, the creation, transfer and transaction of tokens are the highest priority, which can really reduce user operation costs, transactionFees are only kept in the background,End users don't even need a blockchain wallet, let alone worry about how the network works, users only need to concentrate on experiencing their collections.

Summary:

Judging from the current situation, in the short term or even in the medium and long term, Ethereum will still be smart contractThe platform is NFT The span> concept has the strongest empowering effect. The mainstream NFT protocols are also based on the Ethereum standard. However, the slow transaction speed and high gas< on Ethereum /span>fee, many NFT projects began to seek other outlets, such as the explosion of NFT projects on BSC some time ago. Thanks to the scalability of Ethereum, other public chains and side chains have seized the opportunity at the critical time of this NFT craze, such as being compatible with the Ethereum Virtual Machine EVM 's Ploygon has become the leader in the Ethereum expansion solution track by virtue of its fast transaction speed and low transaction cost; at the same time, FLOW, Public chains such as Efinity are also working hard to solve the needs of cross-chain NFT. People can issue NFT on different chains and carry out >NFT asset interaction. In addition, as the launch schedule of Polkadot approaches, the multi-chain era will be getting closer and closer to us.

For the next stage of NFT planning, seeking cross-chain will become its development One of the important choices. By then, Developer and creators will surely create new use cases for NFT beyond our imagination.