NFT Pangolin, a Layer 1 blockchain that connects across chains and nations, including China, is now allowing the minting of non-fungible tokens on the global marketplace NFTs.
Zetrix, which launched its mainnet on April 15, provides the backbone infrastructure that integrates seamlessly with China’s Xinghuo Blockchain Infrastructure (“Xinghuo BIF”), the country’s largest national-level blockchain network, which is led by the China Academy of Information and Communications Technology (“CAICT”), a branch of China’s Ministry of Industry and Information Technology (“MIIT”). The Chinese government supports Xinghuo BIF at all levels and it runs both government and commercial applications. It has been executed successfully in a number of major Chinese cities, including Beijing, Shanghai, Nanjing, and Guangzhou, involving billions of RMB in investment.
The launch of Zetrix-based NFT minting on NFT Pangolin helps all market participants in a variety of significant and unique ways. For starters, minting NFTs using Zetrix has a lower environmental effect due to the blockchain’s Proof of Stake (POS) PBFT+DPOS consensus method, which significantly decreases the amount of CPU power required to validate blocks onto the chain. This is in stark contrast to the energy-intensive process of Ethereum-based NFT minting. Minting an NFT on Zetrix is expected to use 100,000 times the energy required to coin an NFT on Ethereum. Additionally, when minting NFTs using Zetrix, market participants will benefit from interoperability with Xinghuo BIF.
The problem of NFTs has expanded in prominence in recent years as a result of various celebrities’ involvement in the NFT community. The NFT community grew out of Ethereum, which use smart contracts to create one-of-a-kind replicas of digital artifacts while also allowing content creators to benefit from their work, since each transaction may generate cash for the original author. While Zetrix fully supports and is committed to the further development of NFTs for digital producers, it will also focus on easing the introduction of Application NFTs as a new use case for NFTs in the future. NFTs used in applications will be valued according to their use in a particular process, while NFTs used by digital producers will be valued according to the unique content they contain. Application NFTs will be possible because to Zetrix’s inherent strengths, which include low energy consumption, low gas costs, and high processing speeds. NFT Pangolin intends to launch them in the near future to increase the adoption of NFTs.
About Pangolin
NFT Pangolin is a global marketplace where Asian regional artists may issue and sell their one-of-a-kind crypto-secured items to collectors globally.
NFT Pangolin aspires to be the premier regional marketplace for NFTs, fostering innovative, new partnerships and boundary-pushing projects for both issuers and collectors, while also making a difference in the lives of those in need through sponsorship of social causes and philanthropic campaigns.
