What blockchain technology is your platform built on and why was this technology selected?
What blockchain technology is your platform built on? Why was this technology selected and how will it shape your company’s long-term vision?
The platform is built primarily on Polygon. We wanted to use an EVM-compatible blockchain and capitalize on the benefits of the advanced tooling, community, and stability of the Ethereum ecosystem while at the same time minimizing gas fees and transaction times. Our setup on Polygon gives users the flexibility to bridge assets to the Ethereum main chain if desired, without requiring large transactions costs for all operations and making lower-priced NFT assets attainable. Aside from making transaction costs lower, we also prefer Polygon’s PoS consensus algorithm for its environmental benefits.
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Please provide a detailed explanation of your NFT platform’s environmental impact and gas emissions. Is your platform proof of work or proof of stake?
Rare Goods utilizes the Polygon blockchain. Polygon uses proof of stake, which has a much lower envi
If you are using a custom blockchain, what is the contingency/recovery plan for your smart contracts/tokens in the event of catastrophic failure?
We don’t use a custom blockchain. The Rare Goods platform is built on Polygon, a secondary sca
Please provide any unique or important details associated with the information stored in the smart contract.
We are using a standard ERC-721 smart contract with an OpenZeppelin extension to reference the metad
