Seeking to be at the forefront of building on a multichain platform for utility token (SHILL) and NFT assets, Project SEED is proving to be a trend-setter for the future GameFi market. In our ecosystem, users can enjoy new gaming communities and decentralized financial protocols among the increasing networks of blockchains. Read on to find out more about how Project SEED is building our multichain platform and what we can take away from it.
Hints of a multichain future
Multichain is where a blockchain-based project is implemented on more than one blockchain platform. Statistically, the most populated chain currently would be Ethereum since it first captured the market in 2020, however, its transaction fee is obviously not juice for everyone. The network’s gas prices were at an average of around 120+ gwei in late August 2021, recorded the highest for over three months prior (via Etherscan).
While Ethereum cost continues to skyrocket, alternatives have hit the market and provided viable options that interest users with layer one blockchains. Projects are exploring alternatives such as Binance Smart Chain (BSC), which is attracting billions in assets under management, or Solana (SPL) with massive token price growth of 13,200% since January, recorded by Messari. SPL and BSC are also among the fastest-growing blockchains today with low transaction costs and impressive speed.
Due to these two crucial categories, Project SEED has chosen Solana and Binance Smart Chain as the first blockchains to build our ecosystem on. Solana processing capability is up to 50,000+ transactions per second at sub-second finality; while BSC features smart contract functionality and is compatible with the Ethereum Virtual Machine. Other popular blockchains such as Polkadot, Tron, Cardano are also expected to support Project SEED ecosystem for users to enjoy.
Benefits of multichain and crosschain
This paves the way for a multichain future starting to capture greater attention. People are drifting away from having to pick only one blockchain to build on and leaning towards the value provided by a multichain platform where they can have uninterrupted activities regardless of what chain they’re operating on.
- Wider user reach: A multichain opens up spaces for new blockchain ecosystems to enter. Project SEED developers can have more opportunities to approach new user bases from both SPL and BSC platforms.
- Integrated ecosystem: There is already a range of services available in each blockchain ecosystem that existing users have access to and use. For example, SPL or BSC users don’t have to create another wallet when they play games in Project SEED’s ecosystem.
Aiming to become the world’s first multichain gaming platform with a strategic focus on mobile devices, Project SEED incorporates blockchain technology with rich NFT and GameFi features. Initially, we have partnered with Solana and Binance Smart Chain for its affordable gas fees, fast TPS, and also robust blockchain networks. In the future, our native token - SHILL will be made available on other well-known blockchains, and players can access their tokens using one of the following networks: Ethereum, Polkadot, Tron, and Cardano.
The tangible benefits of multichain will eventually bring together a more popular adoption of this system. As its future is becoming more apparent, Project SEED hopes to leverage multiple GameFi use cases on a multi-blockchain model to offer a seamless experience to users.
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