Popular platform for issuing and trading non-fungible tokens (NFT) OpenSea will add support for the second-tier solution for Ethereum’s Immutable X blockchain.
The solution will significantly reduce the cost of creating and exchanging NFTs, while “without sacrificing security.” Immutable X supports instant trade confirmation and is highly scalable. It can process up to 9,000 transactions per second while maintaining very low fees.
“Supporting the solution will help not only existing projects on Immutable X, but also game developers and OpenSea users who will all benefit from this step,” said Nate Chastain, Product Manager.
The protocol will be launched shortly. Immutable X uses ZK-Rollups technology with zero knowledge, so an attack on the system is almost impossible. In addition, the technology can significantly increase the speed of processing transactions and their number.
ConsenSys is developing its own Palm NFT platform that will run on Ethereum’s Hyperledger Besu sidechain. Thanks to the use of sidechain, fees for creating and exchanging collectible tokens will be up to 99% lower than on on-chain platforms.
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