Empire’s first step into Solana World

Grow the Empire

Empire Token is proud to announce the Solana integration of the Empire NFT Marketplace. Solana is a proof of stake blockchain that offers high throughput, low latency, and scalability for enterprise use. 

Empire on the Move

Empire is an extensive project born with the purpose of bridging the gap between crypto and the real world. The project intends to accomplish this by incorporating powerful use cases into the token, which will add value not just to the entire DeFi and blockchain ecosystem, but also to the real world.

We are developing an environment that includes all of the applications required to enter the DeFi world while maintaining the decentralization factor. With that goal in mind, we propose developing applications, tools, and APIs and integrating them into the expanding Empire ecosystem. Empire Token is a deflationary currency that can be used in any Empire Ecosystem application. To assist with this, we develop and deploy decentralized applications (dApps) and promote the circulation of Empire tokens throughout our entire ecosystem. The aim here is providing a clean user interface and intuitive navigation that is simple enough for novices but powerful enough for expert traders and holders.

Brief in to Solana Network

Solana is a public, open-source blockchain that supports smart contracts, including non-fungible tokens (NFTs) and a variety of decentralized applications (dApps). Native to Solana’s blockchain is the SOL token which provides network security through staking as well as a means of transferring value.

Solana runs on a hybrid protocol of proof-of-stake (PoS) and a concept Solana calls proof-of-history (PoH). Proof-of-stake is an algorithm that lets a blockchain maintain accurate information across all of its participants.

Software-defined Networking Approach

Solana’s software-defined networking approach enables enterprises to scale their networks from a few nodes to thousands of nodes without changing the underlying hardware. Solana’s technology will help the Empire Ecosystem to easily deploy and manage our networks without compromising performance or security.

Minting and trading NFTs on the Empire Marketplace with Solana is not only faster and cheaper but will also attract the huge Solana’s community to trade NFTs on our Marketplace! This bridge between the Empire Marketplace and Solana will benefit both communities. We believe that the Empire Marketplace is a great way to introduce NFTs to the world and we are proud to provide Solana as an alternative to minting and trading digital assets on our platform.

How Fast and Effective is Solana?

 

Empire Solana

Solana is a proof-of-stake (PoS) blockchain with a unique consensus algorithm that is able to achieve incredible amounts of transactions per second. The Solana blockchain has been designed for enterprise use cases, and it is the most scalable blockchain ecosystem.

The Solana Blockchain provides an opportunity for enterprises to develop DApps with more than 1,000 transactions per second. This will be a game-changer for many industries and sectors such as finance, healthcare, supply chain management, and IoT. The Solana Blockchain will offer a level of performance that many blockchains can’t match, rivaling the likes of VISA and Mastercard. Santander Bank is one of the companies implementing Solana’s technology for payment services.

Solana aims to be the fastest blockchain on the market. Solana uses Byzantine Fault Tolerance (BFT) consensus, where it’s built to be self-healing, meaning that if a node fails, the other nodes continue and the network will still work. Solana’s goal is to scale from 100 transactions per second (TPS) at the low end all the way up to 100 million TPS. In order to achieve that, Solana will have to overcome a number of barriers in order to scale up significantly. First, Solana will need larger data sources which are time-consuming and costly. Second, they would need enough computing power in order to run their algorithms and process the data at such high speeds. This will require vast amounts of power that can only be generated by wind turbines. But still, the Solana Network proves to be the Blockchain with the most cost-efficiency.

Multi-billion Dollar Market Cap Projects

Projects like Serum, Mangomarkets, and Phantom are among the multi-billion dollar market cap projects Solana now operates. Solana as a blockchain protocol that is designed to be scalable and sustainable by proof-of-stake has already seen massive success with NFTs. The open-source project was created by a team of engineers from Google, Amazon, Facebook, and Microsoft. Solana’s stated goal is to “build the fastest blockchain in the world,” and it has already seen amazing success with NFT trading volume around the world.

Solana’s Proof of History (PoH)

Solana is a blockchain platform powered by the Proof of History (PoH) consensus mechanism. PoH is the first consensus protocol that provides full transparency and accountability to all participants in the ecosystem. This means that every participant can verify the order, timing, and content of every block on the chain.

POH is a mechanism that unlocks network speeds unseen in current blockchains of Proof of Work/Proof of Stake and makes Solana the first blockchain with transactional capacity that is similar to the current internet speeds.

Solana is an infinitely scalable, fast, and secure blockchain, powered by Proof of History. It is the first blockchain with transactional capacity that is similar to the current financial system. Solana enables faster transactions and lower fees for users without sacrificing security or decentralization.

Solana’s NFT Potential

Solana Blockchain is different from Ethereum. For instance, it can process 50,000 transactions per second (TPS) at just a fraction of a penny each. It’s the perfect chain for DeFi projects that aim to compete with Solana’s current financial infrastructure (for example, the TradFi stock market can process sub-40 μSec, or roughly 400,000 TPS). In contrast, Ethereum 1.0 only processes between 15 and 45 transactions per second, and high gas fees can deter newcomers or those who are more risk-averse from participating in the ecosystem.

This is good news for NFT holders. The infrastructure supporting non-fungible tokens continues to improve, allowing for a new type of non-fungible token projects to launch on the Empire NFT Marketplace. These new infrastructure projects are centered around trading, staking, and the development of metaverse technology. Utilitarian and staked NFTs are starting to launch, and they now comprise the majority of new projects appearing on the marketplace. It seems like another scorching hot non-fungible token summer is right around the corner. However, Solana Blockchain, in particular, is uniquely positioned to lead the charge.

Conclusion

Each day, we climb closer to our aspirations as an Empire. We took another step forward by integrating with Solana Blockchain, that will provide more convenience to our holders while also allowing more people to learn about us. Many more exciting updates are on the way.

Keep Climbing! 

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