Blockchain Phase 3 is complete and deployed on the Alphanet!
I’m thrilled to announce that Phase 3 stress tests are complete, and deployment on Alphanet has been successful.
Phase 3 brings new native Augmented NFTs features: Renting and Auction. We’re also pleased to introduce Soulbound Tokens to our ecosystem’s builders.
Before diving into details, let me explain why these native features will revolutionize the NFT ecosystem.
On other blockchains such as Eth, Polygon, Solana, ImmutableX, or Aptos, smart contracts and many other actions are required to mint and manage NFTs.
To illustrate, here are the steps required to create an NFT on ImmutableX:
- Find and hire a Solidity developer;
- Create an Alchemy account;
- Create a Stark account;
- Create an Etherscan account;
- Create a custom NFT contract;
- Create an ETH wallet;
- Get an ETH token or ImmutableX token;
- Audit your contract;
- Deploy your contract and pay ETH gas fees;
- Create a collection and pay ETH gas fees;
- Register a user;
- Deploy your project, incurring ETH gas fees;
- Mint NFTs, incurring more ETH gas fees.
(source https://docs.x.immutable.com/docs/zero-to-hero-nft-minting/)
Once NFTs minted, complex and costly smart contracts have to be developed and deployed to be able to sell, rent, auction, or delegate NFTs. Altogether, this process consumes a lot of time, is costly to execute and lacks scalability.
When creating Ternoa, it appeared to me that the cost and complexity of producing NFTs was a barrier to their widespread use and adoption. And so, I dedicated our efforts to build a blockchain that makes NFTs ready for mass adoption. An infrastructure that significantly reduces builders’ time, efforts, and spending to focus on creating high-quality NFTs and projects.
Minting a NFT on Ternoa involves three quick, easy, and affordable steps:
- Acquiring a Ternoa address;
- Buying our cryptocurrency — Caps;
- Minting your NFT using our SDK.
SDKs are an element of Javascript, one of the world’s easiest to learn and most widespread computing languages. And with over 12 million Javascript developers compared to just 200,000 Solidity developers, finding skilled tech talent for NFT projects becomes far easier. Making our SDKs the icing on the cake of our streamlined process.
Why is phase 3 the beginning of the revolution?
As mentioned before, significant effort is required to mint a single NFT on other blockchains. But imagine the struggle to create more complicated designs, such as:
- MarketPlaces, where users in games can buy and sell their items;
- Games, like Axie Infinity, where owners can delegate their NFTs to others yet share any rewards earned;
- DeFi applications with asset-backed NFTs allowing owners to rent their valuables for cryptocurrency.
On Ternoa, developers can create each feature with one line of code or a single click!
Imagine! Instead of a convoluted and time-consuming 27-step process, just one quick click to:
Create a marketplace
Using polkadot JS
Using Ternoa’s SDK
const newNFTEvent = await createMarketplace(MarketplaceKind, keyring, WaitUntil.BlockInclusion)
Design a NFT with delegation properties
Using polkadot JS
Using Ternoa’s SDK
const delegatedNFTEvent = await delegateNft(YOUR_NFT_ID, RECIPIENT, keyring, WaitUntil.BlockInclusion)
Define renting contract conditions
Using polkadot JS
Using Ternoa’s SDK
const createContractEvent = (YOUR_NFT_ID, Duration, AcceptanceType, renterCanRevoke, rentFee, renterCancellationFee, renteeCancellationFee, keyring, WaitUntil.BlockInclusion)
Put your NFTs up for auction.
Using polkadot JS
Using Ternoa’s SDK
const createAuctionEvent = createAuction(YOUR_NFT_ID, MarketplaceID, startBlock, endBlock, startPrice, buyItPrice, keyring, WaitUntil.BlockInclusion)
`
You can also use our helper in order to test our SDK :
https://e2e.ternoa.network/app/NFT/CreateNFT
Your application is effortlessly customized to create more complex operations that suit and support your project’s needs.
https://github.com/capsule-corp-ternoa/ternoa-proposals/blob/main/TIPs/tip-300-Auction.md
https://github.com/capsule-corp-ternoa/ternoa-proposals/blob/main/TIPs/tip-400-Rental-NFT.md
https://github.com/capsule-corp-ternoa/ternoa-proposals/blob/main/TIPs/tip-104-Soulbound-Token.md
This simplicity is what makes Ternoa truly unique. We create Web3 solutions ready for the Web2 world.
Phase 4 is on its way and will lead to TERNOA V1 completion once implemented. Bringing massive innovation to our MainNet, Phase 4 will introduce The Secret NFT and Capsule NFT.
All of us here at Ternoa are excited for you to see and use these incredible, new Augmented NFTs. We look forward to supporting you and your NFT projects using our latest features and SDKs.
