Immutable: What It Is And How It Works
Immutable is a platform for building Web3 games on the Ethereum blockchain. It was co-founded in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly, with its head office in Sydney, Australia.
The platform aims to bring digital ownership to users by simplifying the process of building Web3 games for mainstream use. Immutable has secured funding from significant crypto venture capitalists and tech investors, including Bitkraft Ventures, AirTree, King River, Capital Temasek, and Coinbase.
The Immutable Platform And What It Offers
The platform provides a suite of products to empower game developers, including pre-built solutions that allow them to launch games faster while maintaining security and a quality gaming experience. Immutable is also a pioneer in enabling zero-knowledge scaling solutions for the Ethereum Blockchain.
It also offers a varied ZK-based scaling option like Immutable X and Immutable zkEVM. The latter is a scalability, frictionless user experience, and game-centric development approach.
The platform uses IMX as the native utility token, an ERC-20 token with a total supply of 2 billion, and has three core uses: fees, staking, and governance.
How Immutable Works And The Problem It Solves
Immutable has leveraged the power of zero-knowledge Rollups (ZK-rollups) to address the pressing issue of layer-2 scalability. By combining multiple transactions off-chain and sending them to the Ethereum blockchain as a single transaction, ZK-rollups enable quicker validation of transactions and keep gas fees low.
In March 2023, the platform unveiled a new scaling solution for games called Immutable zkEVM, in addition to its existing ZK-rollup, Immutable X, powered by StarkWare. This new EVM-compatible ZK-rollup, which utilizes Polygon technology and has the full backing of the Immutable platform, is expected to be launched fully later in the year.
It aims to make game development on Web3 faster, more accessible, and less risky from start to finish. With the launch of Immutable zkEVM and the collaboration with Polygon, Immutable has resolved several challenges that Web3 game developers have grappled with.
These innovative solutions provide faster transaction processing, lower gas fees, and a simplified game development process. Some of the problems solved include:
- All-in-one gaming solution
- Access to an effective network
- Low development costs
- Improved gameplay
- Easy interoperability
- Safe and secure gaming platform
Key Features Of Immutable
Immutable seeks to tackle various scalability and gaming issues while providing a speedy, secure, and cost-effective solution for Dapps. Some of the unique features and technologies that set Immutable apart include the following:
Exceptional security that can handle massive scalability: Immutable’s integration of zero-knowledge proofs allows for reduced transaction costs and quicker completion of transactions per second (TPS) compared to the traditional Ethereum protocols. This feature also ensures data privacy while allowing for statement verification.
The largest Web3 gaming ecosystem: Immutable offers access to a vast and expanding ecosystem of over 1 million players and $2 billion in investor funding for games built on its platform. It also boasts a library of over 150 popular titles that have chosen Immutable as their gaming system.
Streamlined user experiences: Immutable has developed a suite of products and vetted smart contract templates that simplify onboarding processes, generate seamless native gameplay experiences, and equip game studios with the necessary tools to provide excellent Web3 experiences to their communities.
Game-focused development platform: With five years of experience building and scaling some of the most promising Web3 games, including Illuvium, Gods Unchained, and Guild of Guardians, Immutable has utilized this expertise to offer a one-stop-shop platform for game developers.
The IMX Token And Immutable Marketplace
The Immutable ecosystem uses the IMX token as its governance token. The IMX token is an ERC-20 token with a circulating supply of 2 billion.
Furthermore, the IMX token incentivizes traders and creators and helps ensure a balance on the Immutable platform. Nevertheless, Immutable has its own NFT marketplace for trading digital collectibles.
Accordingly, the Immutable NFT Marketplace supports Ethereum wallets without switching addresses. The Immutable platform also has decentralized applications (dApps) under the Gaming and Collectibles category.
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