NFT Focused Zora Blockchain Unveils Layer 2 Blockchain on Optimism Network June 22, 2023 June 22, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJune 22, 2023 by Kelly Cromley

NFT Focused Zora Blockchain Unveils Layer 2 Blockchain on Optimism Network

Zora has launched its Layer 2 blockchain initiative on the Optimism network. Zora is a cutting-edge Web3 platform designed specifically for the creation and development of NFTs. The platform has expanded its usability options by implementing a Layer 2 chain.

Zora’s toolkit enables creators to compile NFT compilations comprising their artwork, music, videos, podcasts, animations, and parodies. The Zora home feed provides an opportunity for collectors to discover real-time and producible collections that originate from the Zora community. Zora offers collectors the option to create personalized profiles, which enable them to showcase their collections and engage with fellow Zora members.

Optimism serves as a scaling solution for Ethereum’s Layer 2 protocol. The implementation of optimistic rollups is utilized to enhance the throughput and reduce the gas expenses associated with Ethereum transactions. Optimistic rollups operate by consolidating transactions into a solitary transaction and transmitting it to the Ethereum network. By leveraging this capability, Optimism is able to achieve a higher transaction throughput compared to Ethereum in isolation.

In the end, Ethereum’s miners are responsible for safeguarding all Optimism transactions. This suggests that in the event of a hostile takeover of the Optimism network, the theft of funds or disruption of network operations would pose a significant challenge to the adversary. Optimism is presently hosting various Web3 initiatives, which include Synthetix, Uniswap, and Velodrome.

The Zora platform offers a range of tools and features to its users, including an NFT Rendering tool that enables creators to showcase their NFTs, a Zora Dev Kit that grants access to the Zora API without requiring prior knowledge of GraphQL, and a Zora API that facilitates access to NFT metadata, monitoring of on-chain events, and analysis of sales activity, among other functionalities.

According to Zora’s guidelines, the platform can be conveniently accessed and utilized by users through their mobile devices. Additionally, NFT creators have the option to establish royalties on ERC-721 collections generated on Zora. However, it is important to note that the enforcement of these royalties on other marketplaces is solely at the discretion of the respective marketplace.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.