What is Substrate and How it Facilitates Matry’s Multichain Framework
Polkadot and How it Relates to the Matry Ecosystem
Polkadot’s Substrate is considered by many to be ahead of its time; An ecosystem to connect the world’s blockchains, so as to create a collective marketplace running DeFi. With every blockchain having its unique specialities, Polkadot provides a unique paradigm where hosted DApps can interact and even assist other blockchain networks, particularly when they require help. This is no better illustrated than with its integration to the Matry ecosystem, where Polkadot’s parachains can seamlessly connect Matry’s NFT 2.0’s to virtually any other blockchain that is compatible with Polkadot. This ability to connect with any other blockchain, therefore, revolutionizes the interoperability and market exposure of NFTs, and strategically positions Matry’s NFT 2.0s as the NFT form that will be largely utilized going forward in 2022 and onwards.
The Fundamental Problem for Blockchains Hosting Web 3.0 DeFi and NFTs
Polkadot’s founder Dr Gavin Woods has a strong belief that with the rising complexity of DApps created on blockchains, the speciality of each blockchain will have to contour more closely to each respective DApp. As a result, multiple DApps with disassociated ideas and computational functionalities won’t be able to live on the same blockchain and run optimally, as the blockchain’s infrastructure will have to essentially ‘choose’ which DApp their blockchain will evolve towards.
The Polkadot Solution
In this respect, Dr Gavin Woods created Polkadot with heterogeneous sharding, which just means that there is a multitude of parachains each with its own blockchain infrastructure. All of these parachains eventually migrate back to a central hub called the relay chain for validation processes, so as to assure consistent security measures across all of the Polkadot parachains.
Matry’s Position Within Polkadot
A parathread works nearly identical to a parachain but is significantly cheaper in capital investment, meaning it’s more appropriate for startups. Matry currently runs on a Polkadot parathread for its interoperability purposes and therefore is provided with the unique computation speciality that occurs inside both parathreads and parachains within the network. Therefore, Polkadot’s ingenuity of creating heterogeneous sharding allows Matry to have its own specially designed infrastructure that has the capacity to actuate on Matry’s highly strategic and multi-faceted mission; That is to revolutionize the utility and trading liquidity of NFTs across the entirety of the blockchain industry.
Continuity in Runtime With Polkadot
It’s also important to note that Polkadot has the exclusive ability to bypass hard forks, which are essentially lengthy updates that often lead to a divergence of the community. This is in contrast to a soft fork, where a blockchain can seamlessly update without any meaningful downtime or disintegration of long-standing community ties within the ecosystem. This, therefore, means that Matry can leverage the ease in upgradability of their ecosystem through utilizing soft forks, and as a result, will negate any downtime in their network so as to maximize the accessibility for our community to take part in the NFT 2.0 marketplaces.
2022 Symbiosis at its Best
All in all, due to Polkadot’s meticulous design structure, Matry is perfectly positioned to provide ongoing upgradeability of NFTs as a whole, with no downtime or lack of computational power disallowing Matry to scale alongside this industry. Looking back into how Polkadot and Matry each work, one could argue that this partnership is a symbiotic gold mine for both Polkadot and the Matry network.
On the one hand, Matry gets streamlined interoperability to expand their community’s NFT exposure across the entire cryptocurrency space by using Polkadot’s parathreads. On the other hand, Polkadot becomes the recipient of a large influx of finances through transactional fees by NFTs being bought and sold within their parathreads. This dual benefit relationship between Matry and Polkadot will promote the long-term sustainability of this coalition, and reinforce Matry’s position as the future staple for NFT creating and trading for the future.
Conclusion
Upon reading this article, one can see how Polkadot’s interoperability and specificity of infrastructure seamlessly coalesce with Matry’s mission. This mission is simple; To revolutionize NFTs for the future. This is something that has been promised for a very long time but never actuated on. With Matry’s ability to add countless DeFi functionalities to NFTs, and allow streamlined interoperability with every major NFT marketplace within cryptocurrency, we finally get NFTs that have the functionalities we require for 2022 and onwards.
With Matry’s novel technology, we believe this ecosystem will finally become the true hub for globalized NFT creation and trading across the cryptocurrency space, and as a result, these NFT 2.0 may soon represent some of the highest valued NFTs within the cryptocurrency industry.
Check out our documentation here to better understand the underlying technology that makes up the Matry ecosystem.
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