As a sub-verse of the EktaVerse and an original product from Ekta, MetaTrees is powered by the EktaChain mainnet. The Ekta Mainnet is based on Hyperledger Besu (Besu) v184.108.40.206 (most current stable version) technology to allow for the building of secure, high-performance transaction processing in a public network. By offering blockchain solutions that are easily implemented, Hyperledger Besu can significantly improve the performance, efficiency, and employment of business processes.
Besu implements both Proof of Work and Proof of Authority consensus mechanisms and supports enterprise features including privacy and permissioning as well as Clique, IBFT 2.0, and QBFT protocols for consensus. Ekta will use Clique protocols due to its high fault tolerance and since adding blocks is comparatively faster when the number of nodes are large. Ekta will also be implementing the more energy-efficient Clique Proof-of-Authority (PoA) consensus protocol.
The Ekta self-developed NFT platform or marketplace will be a blockchain-based cross-platform ecosystem for the sharing and selling of NFTs. The platform aims to provide a unique and novel market for NFT collection and distribution.
The Ekta NFT Marketplace is dedicated to creating NFTs and the issuance of NFTs related to physical assets, which is a novel way for NFT creators and the owners of physical assets to connect with consumers and brands through digital collections. The Ekta NFT Marketplace will become a top NFT brand that provides a market for NFT creators and collectors to interact and share exclusive content in a multi-platform environment.
The EktaBridge is Ekta’s superhighway between EktaChain and other mainnets. Through EktaBridge, users are able to bridge to and from EktaChain, Ethereum networks and Binance Smart Chain (BSC). The EktaBridge facilitates interoperability and allows users and developers to easily move assets from one mainnet to another. 7.4 Smart Contracts
The ERC-721 is a standard for NFTs and implements an API for tokens in various Smart Contracts. This means that ERC-721 tokens provide the first set of standards for NFTs. Each token is unique while values can vary despite the tokens being from one specific Smart Contract.
ERC-721 functionalities include:
- transferring tokens between accounts
- viewing the current token balance of an account
- identifying the owner of specific NFTs
- viewing a networks' total available token supply
ERC-721 tokens are created using Solidity, allowing developers to create ERC-721 compliant contracts by simply following the basic template. Once implemented, developers can create each token's unique details such as token name, symbol, and owner. The difference in tokens can be attributed to their age, rarity, etc.
Each of these NFT tokens has a uint256 variable called a token Id. The pair contract address and uint256 token Id must be globally unique for any ERC-721 contract.
A Smart Contract can be called an ERC-721 NFT Contract, Transfer, Approval, or ApprovalForAll when it implements these protocols and functions.
The ERC-1155 token supports both fungible and non-fungible tokens and was designed to create a number of different NFTs using a single contract. Secure and immune to hacking, these tokens are more efficient and speed up batch transfers. The ERC-1155 token also cuts gas fees by up to 90%, allowing users to efficiently bundle transactions at a more affordable rate. These low rates ultimately help to democratize blockchain minting, creating more opportunities for everyday people to adopt and earn through blockchain technology.