Technical Overview
This section covers the respective components that make up the operational mechanism of the Stackspace ecosystem. NOTE: This section is subject to periodic updates;
Last updated
This section covers the respective components that make up the operational mechanism of the Stackspace ecosystem. NOTE: This section is subject to periodic updates;
Last updated
The predominant purpose of the Stackspace ecosystem is the transfer of NFTs across chain lines. Our Solution will institutionalize the transfer of digital assets without blockchain border restrictions that have restricted NFTs to the confines of their parent blockchains. We will achieve this by utilizing the wrapped (locked) assets protocols, which are now commonly used to transact many crypto tokens across various chains successfully. This concept is, however, relatively new to the NFT ecosystem; it represents a reasonably unpopular concept.
The major question is how will it work? The next segment details this process effectively.
BC - A = Blockchain A
BC - B = Blockchain B
Smart Vault = Locked assets in the smart contract
Illustration
Users attracted through our market plan come into the Stackspace ecosystem, they follow through this process.
To convert asset A on blockchain A to a Blockchain B supported asset, our platform utilizes a wrap smart contract that locks the original asset within a special vault, and instantly mints another asset on Blockchain B, allowing you to perform all the activities you would ordinarily not be able to perform. The wrapped version of that token is pegged to the original token - meaning it has exactly the same value as the original.
After the user completes the entire process, on request, the asset will be returned to it’s original blockchain, and the minted wrapped asset will be burned (destroyed).
The bidirectional chain-to-chain bridge is supported by the following blockchains at the start of the project’s platform launch.
● Ethereum
● Solana
● Polygon
● Binance Smart Chain
After launch, we will strategically begin forming a chain-link mechanism with other blockchains.
VISA Bridge
Illustration
The Stackspace ecosystem will function as a blockchain-to-blockchain NFT exchange, marketplace and Launchpad. Users of our ecosystem will have access to VISA cards that help close the entry gap. These VISA cards will be used to pay for NFT, enter private sales, and more.
These cards can help a user invest in our stake pools in a very creative way. The user can set a certain percentage of his total entries per transaction to be sent to our stake pool. The user uses this means to earn back extra profits.
Illustration
Users can create a private room where they can trade NFTs across blockchains. If these NFT items are of the same value, then both users can utilize external wallets to make the trade.
However, if these assets are of different values; two things will need to happen to ensure successful trade
● The trade has to take place using the Stackspace wallet
● The User will offset the differences in the prices of these assets with STSP.
Anything short of the above conditions, the trade cannot pull through.
