Development in the Web3 world is significantly decentralized. This means there’s no completely self-sufficient ecosystem. So, ecosystems interoperate and leverage each other to deliver a sophisticated experience to users.
Such integrity leads to scalability, security, and cost-effectiveness, which strengthens the innovative landmass in the Web3 world. The union of chains further gives rise to privacy-focused software and decentralization and allows for creativity as never seen before.
The Web3 internet version is meant to give creators more tools to deploy in their creative enterprises. Hence, the need for platforms supplying these tools is arising.
DEIP is one of the most promising blockchain projects that take the Web3 platforms beyond the ordinary. It gives you all the tools to launch your startup, from planning, tokenization, and liquidity to incorporating other custom functions.
Bringing NEAR and Octopus Together with DEIP
DEIP, as a service platform, has partnered with blockchain market leaders such as Octopus and NEAR to help creators develop software faster without the typical limitations.
Octopus is a multichain interoperable crypto network that provides a robust security infrastructure and vast opportunities for scalability to launch and run appchains. An appchain is a blockchain system that allows developers to create their unique blockchain and launch their apps within it. It’s often described as application-specific.
Octopus allows DEIP users to benefit from NEAR’s cloud computing features like security, scalability, and accessibility to other blockchains.
NEAR works using a principle known as sharding, which functions through a division of labor. It shares validation duties amongst all the nodes in the network instead of putting all the nodes to work on every similar task.
Octopus and its substrate ecosystems enjoy the scalability, speed, and cost-effectiveness of the sharding feature provided in NEAR. Even such well-established communities like Ethereum can’t boast of these possibilities today.
While NEAR serves as the mother chain providing the sharding for scalability, Octopus, the appchain, lets builders develop exactly what they want. That’s where DEIP comes in with ready-to-deploy toolkits to foster the creation of intangible assets.
DEIP provides sophisticated toolkits to create fractionalized NFTs (F-NFTs), custom-create governance, create liquidity mechanisms, and other specialized features developers may need in production.
How DEIP Benefits From Octopus
Relay chains are meant to serve as a portal for a particular chain to interact more extensively and benefit from infrastructures present on other chains. These chains connect substrate chains to broader ecosystems connected to the relay chain. DEIP is a substrate chain and has chosen Octopus as its relay chain.
Octopus is hosted on the NEAR protocol, the fastest and most cost-effective blockchain technology. The reasons for DEIP’s choice of this relay chain and how it benefits from it aren’t far-fetched:
NEAR uses the sharding technique discussed above to reduce computational load. Hence, it offers fewer possibilities of congestion, stable, and low transaction fees. Octopus, hosted on this grand infrastructure, benefits from the sharding computational techniques, as do substrate chains like DEIP hosted on it.
“We have shared security from Octopus. They provide us with validators, which increases how fast we can deliver a product to the market. We don’t need to worry about a significant part of the infrastructure because we get it from the Octopus team and Octopus technology”, concluded Alex Shkor, one of the DEIP co-founders. $OCT tokens are paid for this security to the validators as it runs on the proof-of-stake consensus model.
Through the rainbow bridge, Octopus allows DEIP interoperability with NEAR and Ethereum. Interoperability implies functionality across multiple chains. IBC pallet offering is a typical example of how Octopus does this. DEIP can leverage IBC pallets so that assets listed on DEIP can move across NEAR, Ethereum, and other IBC-enabled blockchains.
This interoperability, in another sense, also brings in new developers to the Octopus ecosystem looking to leverage DEIP, and vice versa. DEIP can use Octopus’ educational materials to drive its accelerator programs further.
Partnership with Octopus adds more authenticity to DEIP. Being a respected blockchain network, Octopus does its full round of audits before partnering with any appchain. DEIP securing this partnership implies that it checks the many boxes. As Alex Shkor described it, this acts as a “proof of validity and proof of the legitimacy of our technology.”
A Powerful Combination of the Future
DEIP is built for the Web3 development sector as WordPress is built for web development. The Octopus network helps to sophisticate DEIP’s infrastructure further, bringing more potential into the world of creator-centered intangible assets. The partnership isn’t just a win-win for DEIP and Octopus but a leap further in the Web3 world as a whole!