ICONLOOP unveils PARAMETA, a blockchain framework of its own making.
ICONLOOP has unveiled PARAMETA, a blockchain framework built entirely in-house.
Much like Cosmos SDK from Cosmos or Substrate from Polkadot, ICONLOOP's PARAMETA is a blockchain framework that makes it easy to build a mainnet tailored to a wide range of business requirements.
- PARAMETA
- = Parallel Blockchains for Metaverse
- = a framework that lets you build a blockchain simply by setting parameters
PARAMETA is built on loopchain, the proprietary engine that holds all of ICONLOOP's core blockchain technology. Combining battle-tested modules, a full set of tools for building a mainnet, and interoperability solutions for connecting chains to one another, it lets you build a custom blockchain optimized for any business. It is a full-package blockchain toolkit covering development from Layer 0 through Layer 4 (L0-L4), so both public and private blockchains can be stood up quickly and easily. And through the interchain technology and BTP (Blockchain Transmission Protocol) that ICONLOOP developed itself, you can interconnect with a variety of blockchains and expand your business across them.
PARAMETA also provides every piece of technology a Web3 business needs, plus the wider support that makes running a blockchain more efficient. That includes smart contracts shaped to different business requirements — FT, NFT, DEX, AMM and more — along with the supporting technologies real services depend on, such as BFS, PDS and VAULT, and it guarantees fast throughput and block finality through a proven consensus algorithm. On top of that, you get an easily customizable token economy and fee system, managed node operation, and response support when network conflicts or issues arise.
[Reference] Visit the PARAMETA introduction page ▼
What lets ICONLOOP offer a full-stack blockchain capability like this is technology already proven stable across numerous public and private blockchains, together with the know-how of leading global blockchain projects to success. The flagship example is ICON, a global blockchain project and an interchain-focused network built on loopchain, ICONLOOP's own blockchain engine. Even after becoming fully decentralized across more than 150 teams in some 70 countries, it has run without interruption — proof of its stability.
Forking an existing mainnet can make the early stages of a business easier, but once you start reworking the fee structure, token economy or governance, the difficulty climbs to the level of building a new mainnet, and stability can suffer too. Depending on an existing blockchain also means that any issue on that chain can cause uncontrollable damage to the business you are running. Ultimately, avoiding those risks calls for a business-specific mainnet of your own — and ICONLOOP intends to support exactly that through PARAMETA.
The first mainnet to be built with ICONLOOP's PARAMETA is the HAVAH project. HAVAH is an interchain NFT entertainment platform that connects NFTs issued on chains across gaming, social and finance, and it chose PARAMETA precisely to head off the risks that come with forking an existing mainnet. Through PARAMETA, HAVAH will apply the full range of current blockchain technology — blockchain platform, interchain, blockchain wallet, governance and token economy, NFT, DEX — with launch planned for the second half of this year. The project is a collaboration between ICONLOOP, the ICON Foundation and Korean game studio 2bytes.
[Reference] Visit the official HAVAH project website ▼
- HAVAH
- Utilize your NFTs no matter the network, no matter which dapps.
- intro.havah.io
With PARAMETA, which brings together everything ICONLOOP has developed in core blockchain technology, we want to support the technology and operations of anyone moving an existing Web2 service or business over to Web3, or launching a new Web3-based platform or service — so they can build a custom mainnet optimized for their business and run it efficiently. Not as a mere technology vendor but as a collaborating partner, we plan to develop these businesses jointly, building the ecosystem together from consulting all the way through token economy design. We hope you will follow along. :)
[Reference] Read the full ICONLOOP press release ▼
[Reference] Related coverage ▼
Stay tuned for what comes next.
Life Meets Blockchain, ICONLOOP