TOKYO, JAPAN / ACCESSWIRE / October 12, 2021 / Octopus Network is excited to announce the Appchain candidacy of the Unique One Network NFT Galaxy to the Octopus Network Ecosystem.
Unlike other emerging Substrate-based NFT blockchain protocols, Unique One Network has already built successful marketplaces in several niches across Ethereum, xDai, and Polygon, offering users the ability to grow diverse communities around a variety of favoured technologies and art styles.
Unique One Network is primarily known for its flagship art marketplace, Unique.One, which initially launched on the Ethereum blockchain with the sole purpose of lowering the barriers to entry for artists, creators, and photographers - making it easier for them to mint NFTs. Today, Unique.One art marketplaces operate across four different blockchains, with respective art communities blossoming around different technologies.
Unique One Network's subsequent project, UniqueOne.Photo, sought to hand back autonomy to photographers so they could choose how they wanted to sell their work- including custom licensing, Certificate of Authenticity for prints, and other features. UniqueOne.Photo now has two NFT photography art marketplaces on both Ethereum and Binance Smart Chain.
Unique One Network is building out its mothership chain on Substrate as an Appchain in the Octopus Network with the goal of further challenging Web3.0 interoperability to augment an NFT Evolution. With its extensive experience building NFT Marketplaces on diverse blockchains, the Unique One Network NFT Galaxy Appchain will extend cross-chain modular builds to B2B marketplaces by offering a variety of NFT-as-service modules to enfranchise Web3.0 teams, companies, projects, and influencers with the support, community, and NFT network effects they need to scale.
'Unique One Network has evolved well beyond its dApp roots and welcomes the huge design space Substrate offers. As a community-run volunteer team that advocates decentralisation, we are well aware of the challenges of bootstrapping security or winning a Parachain slot. Octopus Network's LPoS is currently a nice fit for us to be able to bring our style of cross-chain interoperable NFT innovation to Web3.0.' - Unique One Founding Team.
While the primary focus of Web3.0 next-generation decentralised protocols has been to develop technology for cross-chain interoperability, the economic barriers of Web3.0 innovation can make it inaccessible for a broad range of development teams and use cases. Security bootstrapping for sovereign Substrate blockchains still remains both a technically complex and capital-intensive job - Setting up a consensus mechanism requires nodes, aka validators, that stake monetary funds to secure the chains.
Launching a chain on Polkadot or Cosmos can be out of reach for most start-ups and development teams. But compared to Cosmos' sovereign security and Polkadot's shared security models, Octopus Network uses a leased security design (LPoS) which decreases the cost to launch an Appchain by up to 100X or more.
Each Appchain gets to decide its own economic model, including how many tokens it's willing to pay validators for security. Octopus Network token holders get to choose which Appchains they'd like to stake on - creating a free market where Appchains can lease the security they need at market price any time.
'We believe that more and more Web3.0 application development teams will turn to an application chain technology stack. By handing back the huge design space in the complete technology stack of blockchain to developers through application chain technology, the road to Web3.0 can be opened.' Louis Liu, Founder, Octopus Network
Octopus Network is a brand new multichain network born to bootstrap and run Substrate-based application-specific blockchains, aka Appchains. By providing flexible leased security, out-of-box interoperability, one-stop infrastructure, and a ready-to-be-engaged community, Octopus Network is unleashing an innovation wave on Web3.0 accessible to all Substrate developers and Web3.0 teams. The Octopus Network Mainnet is launching on World Octopus Day, Friday, October 8, 2021.
SOURCE: Octopus Network
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