Built on Ethereum, Polygon & Optimism: Creator Console, a No-Code NFT Platform to revolutionise NFT Creation & Management
Creator Console was soft-launched in October 2022 and since then has been gaining a lot of attention from Creators all over the world.
A new Version of the Console would soon hit the market and honestly, we can't keep our excitement for the big launch. It would take the process of NFT Creation & Management to an effortless level, further benefiting creators all across the world with easy monetization. It would also have several unique and powerful features that have been at the centre of creator talks since 2021-22.
So far, Creator Console has been integrated with a number of blockchain platforms like Ethereum, Polygon and Optimism and many more future on-chain integrations are currently in the pipeline.
In this guide we are going to take you through the platforms on which Creator Console is built.
Existing Integrated Chains
The peer-to-peer Ethereum network is used to execute and validate smart contract application code in a secure manner. Ethereum is a decentralised blockchain platform. Smart contracts allow participants to transact with one another without the requirement for a trustworthy central authority. Due to the fact that transaction records are independently immutable, verifiable, and securely distributed throughout the network, participants fully own and have access to all transaction data. Users can do transactions back and forth using their Ethereum accounts. As a price of executing transactions on the network, a user must sign transactions and use Ether, Ethereum's native coin.
Advantages of building on Ethereum
Using the native Solidity scripting language and Ethereum Virtual Machine, Ethereum provides a remarkably flexible platform on which one can develop decentralised apps. The robust ecosystem of developer tools and well-established best practices that have emerged with the protocol's maturation are beneficial to decentralised application developers that implement smart contracts on Ethereum. With wallets like MetaMask, Argent, Rainbow, and others offering straightforward user interfaces that allow users to interact with the Ethereum blockchain and the smart contracts deployed there, the quality of the UX for the typical user of Ethereum applications is likewise affected by this process. The vast user base of Ethereum encourages developers to release their programmes on the network, further solidifying Ethereum as the go-to platform for decentralised programmes like DeFi and NFTs.
To solve Ethereum's scalability issues, the Polygon layer of protocols has been developed. To overcome the issues with the network, the Polygon network handles transactions on a distinct, Ethereum-compatible blockchain.
Polygon delivers transactions back to the primary Ethereum network after post-processing. This approach lowers the network's load on Ethereum. By doing this, Polygon can accelerate transactions and cut costs to under a cent.
To put it differently, Polygon, previously called Matic network, provides a straightforward framework on which existing and new blockchain projects may be built without encountering scalability issues.
Users never have to worry about network congestion when interacting with any decentralised application (DApp) using Polygon.
Benefits of building on Polygon
The sole token that can be staked on the Polygon blockchain is the MATIC token from Polygon. Users who take part in staking are compensated annually with interest payments for approving transactions on the blockchain.
Polygon's solutions can be useful to small businesses, regular customers, and developers . Building an Internet of Things on the Ethereum blockchain is Polygon's primary objective. The project aims to reach a billion users for Ethereum without sacrificing security or decentralisation.
Polygon sets itself apart from other L2 solutions with its approach. And because of that, on a single network developers have access to a number of Polygon's services. When choosing the optimal scaling option for their application, this technique allows developers greater freedom and control.
On Polygon, developers can choose between optimistic rollups and zk-rollups. Or they can even decide to employ Polygon Avail, an extremely secure data accessibility blockchain that can be applied to off-chain scaling solutions like sidechains and independent chains.
On top of Ethereum's main network (layer 1), Optimism serves as a layer 2 chain. Although the transactions happen on Optimism, the records are transferred to the mainnet where they are confirmed.
This system uses optimistic rollups, a technique for breaking up enormous amounts of transaction data into digestible chunks. Optimism is becoming more and more popular now because it is substantially very cost-effective to utilise.
Originally announced in June 2019, Optimism's open mainnet started in December 2021. Another benefit is that as Optimism was made to closely resemble the Ethereum blockchain, developers may quickly and easily deploy existing contracts on the network. It is essentially a decentralised infrastructure platform built on Ethereum that supports scalable smart contracts and instant transactions.
And although Optimism is connected to Ethereum via a layer 2 chain, it is still a separate blockchain system, thus if you wish to transfer data from one blockchain to another, you will need to employ a bridge. Non-Fungible Token (NFT), tokens, and other types of arbitrary data can be exchanged between two chains via the Optimism bridge that connects them.
The optimism token, often known as the OP token, is an Ethereum based ERC-20 token which was introduced in a chaotic launch in late May 2022, and is incharge of the Optimism Network. The early Optimism users also received a portion of the OP supply via airdrop.
Optimism is also the second-largest layer, with more than 313 million USD currently secured in its smart contract.
Benefits of building on Optimism
While the ability to handle all Ethereum dApps is one of the primary features of the Optimism blockchain network, which it is able to do by conducting all necessary computation off-chain. It is not the only attribute of the Optimism chain. Some of the other benefits of building on Optimism are:
- Scalability: Depending on the type of transaction, optimism can increase scalability by 10-100 times.
- Security: Transactions are processed on the Ethereum Mainnet, enabling users to take advantage of the security and decentralised nature of the Ethereum blockchain while Optimism's Layer 2 comes built on top of Ethereum.
- Fee Reduction: Optimism can significantly lower the transaction's overall cost. Due to its rolling mechanism, transaction costs are reduced by combining multiple transactions into one.
- Better User Experience: New projects using Layer 2 scaling solutions from Optimism have access to lower fees, faster transactions, and an all-around better user experience.
To be Integrated
The initial blockchain that Binance developed is known as Binance Chain. However, there were some restrictions on how it could be programmed. These issues were addressed with the creation of Binance Smart Chain. A blockchain network called Binance Smart Chain allows for the use of programs based on smart contracts.
Due to BSC's concurrent operation with Binance's initial Binance Chain, which has a significant transaction throughput, users can benefit from the best of both worlds. The Ethereum Virtual Machine was also integrated into BSC, enabling it to run applications that are built on Ethereum.
The platform was designed to let users manage their cross-chain digital assets in a low-latency, high-capacity manner and to enable developers to build decentralised apps (DApps).
StarkNet is an open - source decentralised Rollup that runs as an L2 network on top of Ethereum. Due to its dependence on the most secure and scalable cryptographic proof method, STARK, StarkNet enables any dApp to attain infinite scale for its computing without jeopardising Ethereum's composability and security. The first production-grade Turing complete von-Neumann verifier, also known as the Cairo programming language on Ethereum, serves as the foundation for StarkNet. Since Summer 2020, more than 50M transactions totaling $250B have been resolved using production-grade applications powered by Cairo and STARK, both of which were built internally by StarkWare.
The NEAR Protocol was created as a community-controlled cloud computing platform and includes a public Proof-of-Stake (PoS) blockchain with smart contract functionality. The NEAR Collective constructed NEAR with the intention of hosting decentralised applications (dApps)
The native token of NEAR blockchain, also known as NEAR, is employed to cover transaction costs and storage costs. Token owners who take part in reaching network consensus by acting as transaction validators may also stake NEAR tokens.
The goal of NEAR Protocol is to provide a platform that is both user and developer friendly. To achieve this goal, NEAR has added features such as the capability for new users to connect with dApps and smart contracts without ever needing to register a wallet, as well as the choice to generate human-readable account names rather than just cryptographic wallet addresses.
NFTs are built on blockchain technology, which guarantees that all NFT transactions are transparent to its users. This increases users' trust in a distributed database by providing them with error-free payment processes and a smooth transacting experience. Since the blockchain network is immutable, your assets won't be lost, modified, or destroyed from it.