Curvegrid & the Dvision Network: Tech Support & Partnership
Curvergrid will be supporting the Dvision Network and helping it achieve its target of a cross-bridge multichain
The Dvision Network is a new VR content ecosystem that utilizes blockchain technology. It aspires to provide the best user experience by utilizing the advantageous features of Blockchain and VR technologies, and by creating an unprecedented and inclusive virtual ecosystem for businesses and designers.
Hello, dear community members,
We are officially announcing our decision to integrate with the Tokyo-based, advanced, blockchain software company — Curvegrid, which has gained traction with its flagship product MultiBaas. MultiBaas allows independent developers and enterprises to bring their DApps to the market in a fast, facilitated, and cost-effective manner. Moreover, it allows building a cross-bridge between multiple blockchain platforms and powers the tool Looking Glass. Looking Glass is a cross-chain digital asset portal that is used as an ultimate solution for moving ERC20, ERC721, and ERC1155 tokens between compatible blockchains.
It should be noted that the public Ethereum Network processes more transactions daily than all other public blockchain platforms combined. Its flexibility and ubiquity have made it the standard for DeFi and blockchain games. Yet, its popularity has outpaced its scaling capabilities, and the gas fees on Ethereum have made it unsuitable for many use cases, including the sale, auction, transfer, and tracking of low-to-medium value NFTs. For your information, a simple NFT ownership transfer on the Ethereum mainnet costs upwards of USD 2 as of December 2020.
The current trend of increasing gas fees on the Ethereum mainnet has also led us to reconsider our position in this situation. Thus, we are investigating other viable solutions in order to offer the most advanced and comfortable user experience inside of our metaverse in the Dvision Network. One of the biggest solutions we’re contemplating is enabling multichain bridging, which will allow our users to take advantage of low gas fees while minting their NFT items. However, building on the blockchain is hard, and absolute mainnet migration is not always the most viable or practical solution.
Fortunately, having a partner like Curvegrid that could power the transfer of Dvision assets through its cross-chain digital asset portal significantly facilitates the entire procedure and makes the double-edged transition very possible. Therefore, the technical partnership between Dvision and Curvegrid will be concentrated on leveraging the tools and experience of the Curvegrid team in order to offer the most practical cross-bridge solution inside of our metaverse.
As a part of our partnership agreement, we will be one of the early adopters of the Looking Glass tool. This will initially support bidirectional transfers between the Ethereum Mainnet and Binance Smart Chain. It is secured by on-chain and off-chain multifactor and multi-signature authentication. To be precise, Dvision Network users will be provided with the opportunity to mint assets, move them to another blockchain, and bring them back to the Ethereum Network if they’d like. Here’s the generic view on the asset transfer flow:
- Transfer and lock: The asset owner sends the ERC20, ERC721, or ERC1155 asset to a well-known Looking Glass smart contract address.
- Event-triggered: Looking Glass monitors the events on the smart contract, and once assets are locked and secured in escrow, initiates the transfer workflow.
- Sign: The appropriate burn and mint transactions are signed by an enterprise’s wallet or multi-signature wallet.
- (A) Burn (if applicable): The asset is burned (removed) from the source blockchain. (Only applies to assets with a variable supply.)
- (B) Unlock/mint and transfer: The asset is unlocked or minted (created) on the destination blockchain and transferred to its destination.
Overall, by using the Looking Glass tool, which is built on top of MultiBaas, the Dvision Network is planning to enable a cross-chain bridge between an alternative blockchain and the Ethereum Mainnet. This can tackle the issues that emerged with the increasing price of ETH, high gas fees, and Ethereum’s low scaling capabilities. Thus, very soon, our users will be able to take advantage of the best features of the most suitable blockchain technology when our metaverse is launched. This is going to be implemented in close collaboration with the Curvegrid team.
Curvegrid Inc. is a blockchain software technology company based in Tokyo, Japan. Curvegrid’s MultiBaas blockchain middleware makes it fast, easy, and cost-effective to build production-grade decentralized applications (DApps) on multiple blockchain platforms.