As the NFT space continues to thrive across every major industry vertical, a new buzzword that is taking the entire ecosystem by storm is Immutable X.
The importance of Immutable X in the NFT space is twofold. It solves the problem of high gas fees, which makes NFTs more affordable and accessible to everyone. Besides this, it turns up as a high-throughput solution which supports the evolving demand for NFTs.
Immutable X is a layer-2 scaling solution for NFTs on Ethereum. Immutable X is capable of overcoming the scalability challenges for NFTs on Ethereum, which indicates users can now develop and manage NFT token development projects over a fully secure platform with zero gas fees. They can also get access to quick trade confirmation and large scalability for games, applications, and marketplaces without compromising security.
Before we learn the working of Immutable X, it’s important to understand Layer 2 solutions and StarkWare’s zkRollup technology.
1. Layer 2 solutions
Layer 2 solutions are responsible for strengthening the scalability of blockchains while maintaining utmost security. They do this by moving some of the computation and data storage off-chain, which reduces the load on the main chain.
2. StarkWare’s zkRollup technology
StarkWare’s zkRollup technology is a type of rollup that uses zero-knowledge proofs to verify transactions without revealing the underlying data. This makes zkRollups highly secure and scalable.
zkRollups works by first batching together multiple transactions off-chain. Backed by zero-knowledge proofs, the batches are fully encrypted using. The encrypted batches are then submitted to the main chain, where they are verified by the miners.
Some of the projects that are using StarkWare’s zkRollup technology include Immutable X, DeversiFi, and dYdX. These projects are all working to improve the scalability and efficiency of Ethereum by using zkRollups.
1. Creating NFT on Ethereum Layer 1
The user creates an NFT by uploading a digital asset, such as an image, video, or audio file, to the Ethereum blockchain. The NFT is then assigned a unique identifier and a set of metadata, such as the creator’s name and the price.
2. Minting NFT on Immutable X Layer 2
The NFT is minted on Immutable X Layer 2 by submitting a transaction to the Immutable X smart contract. The smart contract then mints the NFT and stores it in Immutable X’s secure and scalable infrastructure.
3. Storing NFT in Immutable X’s secure and scalable infrastructure
Immutable X’s infrastructure is based on StarkWare’s StarkEx technology, which uses zero-knowledge proofs to verify transactions without revealing the underlying data. This makes Immutable X a highly secure platform for storing NFTs.
4. The NFT can be transferred, bought, or sold on Immutable X’s marketplace
The NFT can be transferred, bought, or sold on Immutable X’s marketplace, which is built on top of the Immutable X Layer 2 network. Transactions on the marketplace are processed quickly and cheaply, thanks to Immutable X’s scalability and security features.
5. When an NFT is transferred, the transfer is recorded on Ethereum Layer 1
When an NFT is transferred, the transfer is recorded on Ethereum Layer 1. This ensures that the ownership of the NFT token development is always transparent and secure.
In addition to the steps listed above, Immutable X also uses a number of other techniques to achieve high throughput and low fees. These techniques include:
Immutable X has gained wide traction in the NFT gaming development space while becoming the ideal choice for modern NFT gaming projects.
Here are the most compelling reasons to pick IMX for your next NFT game development project:
1. Zero gas fees
Immutable X does not charge any gas fees for minting, trading, or transferring NFTs. This makes it much more affordable for gamers to collect and trade Immutable X NFTs.
2. Faster transactions
Immutable X can process transactions much faster than Ethereum. This is an ideal opportunity for blockchain gaming, where transactions are to be processed instantly to ensure smooth gaming operations.
Immutable X is built on Ethereum, which is one of the most secure blockchains in the world. This ensures that your Immutable X NFTs are safe and secure.
Immutable X is more efficient than Ethereum, which means that it uses less energy and resources. This makes it a more sustainable option for blockchain gaming.
In addition to these, Immutable X is also working on a number of features that are specifically designed for NFT gaming development, such as:
Here are some of the popular games that are developed on Immutable X platform:
The future scope of Immutable X is very promising. With the growing demand and popularity of NFTs, Immutable X is expected to be a better and smart way of NFT minting, trading, and gaming.
Become an early adopter of Immutable X while partnering with Antier. The skilled and certified NFT professionals are here to guide you throughout your NFT journey. Get a free consultation today.