Since blockchain started gaining mainstream attention, many players have entered the industry to provide innovative alternatives to layer-one solutions that allow scalability without sacrificing speed, gas fees, or security. We have also seen the rise of custom blockchain solutions that power specific projects, be it gaming, DeFi, or NFTs.
Among the tens of options out there, 1MillionNFTs chose Aptos, WAX, and Flow blockchain solutions. We explore these blockchains deeper in this blog to help you understand why they matter to our project.
The key vision of Web3 is to drive a decentralized internet landscape that is trustless and where information is verifiable in the public domain. As an open-source, decentralized ledger, Aptos records and authenticates transactions between two parties without the need for a trusted intermediary. Aptos isn’t just making big promises about speed.
The network proved during testnet that it could handle up to 160,000 transactions per second (TPS) while maintaining high security and reliability standards. Instead of sequential execution, Aptos leverages a parallel execution mechanism that extracts computing resources at a large scale for faster transactions at relatively affordable gas fees.
Although Aptos is a layer solution, it leverages a suite of next-gen technologies that sets it apart from standard options. They include BFT consciousness, block SDM Technology, and Move programming language, among others. The integration of all these technologies makes Aptos a high-potential NFT and gaming network.
The Worldwide Asset eXchange (WAX) is a game-changing blockchain solution tailored for the NFT and gaming worlds. Dubbed the King of NFTs, WAX is among the safest and most convenient blockchains that have powered millions of NFT sales from household industry collections, such as Toops, Capcom, and Sony’s Funimation, among others.
The WAX chain leverages the resource model and resource mechanism to complete transactions in 0.5 seconds. Moreover, the network’s Delegated Proof of Stake (DPoS) mechanism allows native token holders to choose preferred top 21 block producers, a strategy that naturally incentivizes miners to process transactions faster.
But what’s more revolutionary and interesting about WAX is the staking model, which takes the place of the traditional transaction cost model to lower gas fees to zero. Instead of charging users a gas fee based on the transaction’s size or whether the network is congested, WAX gives users entitlement to a portion of the chain’s resources if they stake native tokens.
Flow blockchain is developed by NFT enthusiasts for the NFT world. NBA Top Shot developer Dapper Labs and CryptoKitties came together to build one of the most innovative DLT protocols that power next-gen blockchain-based games and digital collectibles. Unlike traditional solutions that use side chains to offload transactions from the main chain, Flow’s scaling alternative, a multi-role node architecture, can support billions of users.
Flow blockchain architecture entails the following node types:
Consensus nodes leverage HotStuff, a proof of stake algorithm variant, to order transactions on the network.
Verification nodes work in tandem with consensus nodes to enhance security within the Flow network and foster economic incentives.
Execution nodes for discharging computations to complete individual transactions.
Collection nodes for improving connectivity across the chain and enabling DApps to retrieve relevant information seamlessly.
On top of these features, Flow is also developer-friendly and comes with its own programming language, Cadence, with an ergonomic syntax that is easy to read. Cadence is among the few innovative programming languages that offer a new way of representing virtual asset ownership in the code.
Comparison of Aptos, Wax, and Flow
One thing is common about Aptos, WAX, and Flow — all of them are perfectly tailored for gaming and NFT use cases. For instance, all chains are using unique, innovative technology to solve the problem of low transaction speeds and high costs without compromising security. Moreover, all the networks are developer-friendly, with easy-to-use open-source technologies or frameworks. This attracts many Web 2.0 developers to build on Web3 and take the NFT industry a step further.
Besides being friendly to NFT projects, these chains share fundamental Web3 principles that align with our vision — to spur limitless creativity that will inspire 1MillionNFTs. And as you’ve noted, all chains are deeply vested in solving the industry’s scalability challenge and are optimistic about serving hundreds of millions of users. Moreover, they are public and accessible to anyone with a passion for Web3 and NFTs.
Over to You
The NFT concept is still nascent, even if the idea has intrigued mainstream curiosity. We understand that there is still greater room for innovation and can’t wait for a breakthrough that will drop curtains on Web 2.0 and usher in Web3 on a full scale. In the meantime, is there a new chain that you think is ideal for the 1MillionNFT community? Get onto Twitter, or Telegram, and let us know your thoughts. 1MillionNFts collection is about you, the user, and the bigger underlying community of fans and collectors!