IOST Partners Japan-based HashPalette to Optimize NFTs for Global Users
2 March 2021, IOST is announced as one of the first projects to join the Japan-based HashPalette blockchain network.
Hashpalette Inc. (Headquarters: Tokyo, CEO: Seihaku Yoshida / Yuuki Matsubara) officially operates a testnet of the blockchain network “Palette” specializing in the entertainment field on March 2, 2021.
Palette, A Blockchain Optimized for NFT & Entertainment
Palette is a blockchain network optimized for the distribution of content using Non-Fungible Token (NFT) and aims to enhance the global distribution of content from Japan via blockchain.
Palette’s key features include the implementation of cross-chain technology, which enables the NFTs issued on it to be transferred to other blockchain networks. Testnet supports cross-chaining with three blockchain networks: Ethereum, NEO, and Ontology, and plans to expand the number of supported parties in the future.
Palette Consortium
Palette is a blockchain network operated by consensus nodes based on a staking mechanism. The consensus nodes will form a “Palette Consortium” to provide governance for Palette.
Currently, the first batches of projects that join Palette include well-known companies such as IOST, ONT, NEO, ICON, CoinCheck, Huobi Japan, OKCoin Japan.
Terrence Wang, Co-founder and CTO of the IOST Foundation highlights
“Palette is a unique private blockchain platform dedicated to NFTs. It addresses many of the issues that hinder the adoption of Ethereum-based NFTs, and we believe it is an excellent alternative to Ethereum. Palette has a deep and important goal to update the entertainment content industry with blockchain technology. It is also very important to note that Palette is a project originating from Japan. Japan has long positioned the entertainment and related industries as a very important area of Japan’s soft power in the world. This is a great opportunity to update the country’s appeal with the latest technology. And the IOST team will work closely with Palette to provide the best NFT experience for users around the world!”
For further information about this project, kindly check out Palette’s Twitter & website.
