Solana NFT Marketplace Development: Scale Up Your Venture by using a decentralized blockchain network
Author Solana NFT Marketplace Development
“Run your own race at your own pace” goes a famous quote. The phenomenon of crypto collectibles is rapidly evolving. Of late, there is one blockchain network that is progressing swiftly in the market. It is none other than Solana. Both content creators and investors are benefiting from decentralization, a friendly user interface, and low transaction processing fees. Importantly, it is an upgradation of layer 2 systems (sharded chains). Are you an innovative entrepreneur? If yes, it is an apt time for Solana NFT marketplace development.
What are the plethora of advantages offered by Solana?
- Numerous options like delegation and staking for validators.
- Real-time sharing of data by the Solana blockchain explorer.
- Uninterrupted operations due to resistance against transaction censorship.
- Speedy creation of blocks with a time of just 400 milliseconds.
- Ultra-low payment processing charges (less than $0.01) for artists and NFT traders across the world.
Why is Solana the top choice for building NFT trading platforms?
Currently, the Solana blockchain network supports 42 NFT marketplaces. Unquestionably, it is the hub for integration with Decentralized Finance (DeFi) projects, the launch of dApps, and the minting of crypto collectibles.
Solana is the favourite for techpreneurs like you to dominate industries. It is apt for creating NFT buying and selling platforms for sectors like art, fashion, gaming, music, social media, sports etc.
Connecting the Metaplex Protocol and a Solana NFT Marketplace
The Solana open-source blockchain platform has launched a set of guidelines under its Metaplex protocol. It allows the instant creation and minting of digital collectibles. Artists can create auctions for either primary or secondary sales.
Besides that, they can uniformly view their NFTs across decentralized applications (dApps) and software wallets. As a leading white-label NFT solution provider, AppDupe uses 2 options for ensuring a hassle-free process.
The 2 elements of the Metaplex protocol are a front-end web 2.0 application and an on-chain program. Ultimately, content creators can create their own storefront for selling their collectibles like art pieces, memes, photos, tweets, videos etc.
Know the features of our White-label NFT marketplace on Solana
- Auctions section to know the status of ended and live sales.
- Creators dashboard for describing and uploading their work.
- Instant circulation of data related to epoch time and transaction history.
- Integration with digital wallets like Ledger, MathWallet, Phantom, Solflare, Sollet, Solong, and Torus.
- Live updates related to drops of new crypto collectibles.
- Multi-colour NFT selling with details like minting date and token ID.
- Place Bid button for investors to not miss out on attractive deals.
- Real-time sharing of notifications related to auctions and bids.
- Several file uploading options like JPEG, MP3, MP4, PNG, and WEBP.
- Swift processing of transactions by using Solana (SOL) tokens.
- 24×7 technical assistance via Discord, email, live chat, and phone.
Buy a White-label NFT Marketplace on Solana and take over the world
Connect on WhatsApp Decoding the Proof of History (PoH) consensus mechanism of Solana
Ethereum is moving from the Proof of Work (PoW) to the Proof of Stake (PoS) consensus mechanism. However, Solana has gone one step ahead with the Proof of History (PoH) computational sequence. Likewise, it uses a Verifiable Delay Function (VDF) to know the time between two events.
Nodes will automatically generate new blocks since they will know the date and order of the received messages. Therefore, it need not sync with the entire Solana blockchain network in advance.
Every validator on Solana will set his/her own time frame. They will encode the duration taken to verify peer-to-peer (P2P) transactions in the SHA-256 function. It exists in the form of a secure data file or text.
What is the tech stack for creating an NFT Marketplace on Solana?
A variety of frameworks and programming languages are used for Solana NFT marketplace development.
Anchor Framework – It is a powerful framework for building dApps on the Solana blockchain network. Anchor uses a Remote Procedure Call (RPC) mechanism and generates an Open Insurance Data Link (IDL). Application Programming Interfaces (APIs) help in the quick sharing of content and data.
Pipeline Transaction Processing Unit (TPU) – Peer-to-peer (P2P) payments are executed quickly on Solana. There are 4 levels (Kernel, Central Processing Unit, Graphics Processing Unit, and the Transaction Processing Unit). This ensures the smooth transfer of funds from artists and investors to the blockchain platform. The three levels perform tasks like data fetching, signature verification, performing banking activities, and writing the code.
Tools for smart contract development – Rust programming language is used for coding the pre-programmed software. This ensures glitch-free implementation of terms and conditions. TypeScript ensures cross-platform compatibility.
Turbine Propagation Protocol – All the blocks created on the Solana blockchain platform are transmitted via the Turbine protocol. Tiny packets will come out in the form of erasure codes. Generally, it is distributed to peers on Solana on a random basis.
Why choose AppDupe for Solana NFT Marketplace Development?
As a well-versed NFT solution provider in the industry, AppDupe is proficient with the latest technologies. Entrepreneurs like you can reach out to our skilled team and achieve business goals successfully.
Our expertise lies in the creation of white-label blockchain-based trading platforms. You can make an impact across different sectors by setting up an NFT marketplace on Solana. We are also highly experienced in the development of NFT minting platforms and the implementation of online marketing campaigns.
Further, our post-launch services will upgrade the functioning of the NFT buying and selling platform. Digipreneurs with a similar mindset as you can avail solutions like the addition of online and offline wallets, API integration, maintenance of the NFT marketplace, removal of bugs and flaws, and technical assistance.
Wrapping Up
Indeed, Solana has taken over the NFT trading sector by storm. The blockchain network also sold a Degen Ape #7725 for $1.1 million recently. The interest of venture capitalists (VCs) in crypto collectibles continue to grow.
Moonrock Capital, a blockchain advisory company based in Hamburg and London bought the Degenerate Ape Academy for 5980 SOL tokens.
Besides that, the daily trading volume of SOL is $3.17 billion as per CoinMarketCap. Solana has pocketed a gigantic $50 million share of the global inflow of crypto investment.
Be no longer a spectator. Entrepreneurs like you can become a trendsetter in the industry by commencing Solana NFT marketplace development.
Grab more traffic with an NFT Marketplace on Solana
Marketing is my soul mate and writing is my side kick. Using my writing skills to share the knowledge of app development and upcoming technologies.
