What is Pontem Network? To answer that, let’s start by addressing the problem. There has been a growing divide between the regulated and unregulated crypto worlds. The unregulated world has been growing rapidly and even chaotically. On the other hand, the regulated crypto world has been in a much more enclosed space and only available to a select few. This has resulted in a growing segregation in the community that has not yet been addressed. Only a select few are able to enjoy the benefits of the blockchain world to the fullest and others are left in a highly unregulated and chaotic world.
In order to address this issue, Pontem was born. Pontem Network is a bridge between the regulated and unregulated worlds which will allow for the exchange of value between the two. With support from the Wings Foundation, a Swiss-based non-profit foundation established in 2016, Pontem will help users get access to all the use-cases provided by the unregulated society. In addition, Pontem will connect Diem and the decentralized world which includes traditional crypto markets. So Diem users will have access to financial instruments, security tools, and various games.
So what features are available?
The Pontem Network will provide technology and market fit testing. Pontem will also introduce creators to Diem’s potential and provide them with the ability to validate ideas before submitting to Diem. The Pontem Network will also tap into the liquidity of popular blockchains. By using existing cross-blockchain bridges, Pontem will connect to external blockchains and then tap into their resources. Another feature includes a financial framework with a broad set of tools with ready-made modules allowing product managers to focus on the product. Most importantly, the Pontem Network is fully compatible with the Diem platform and tools. The products and solutions will all be easily migratable to Diem, hence a user traction loop from Diem will be highly probable.
Pontem is a pluggable framework containing a multitude of modules, allowing host projects to tap into a variety of data, liquidity and user base provided by the hosting network, while providing a maximum possible compatibility with the upcoming Diem blockchain. Pontem is available now via an easy to use Polkadot Pallet, and is aiming to support further protocols in the future.
Let's talk about the Technical Architecture
In terms of technical architecture, there are four main parts.
Parathread on Substrate
The Pontem Network is a Polkadot parathread that will support safe and advanced smart contracts.
Liquidity Protocols and Oracle Integrations
Pontem will integrate with existing liquidity protocols which include Ethereum ones (with the help of different Polkadot bridges).
Reference Versions of Diem Move Technology
Pontem Network will be fully compatible with Move virtual machine and standard library. It will use the same code base and tools on both Pontem & Diem.
Deployers for Dapp Packaging & Submission
The Pontem Network will have a complete toolset to develop your own Dapp projects which includes a package manager.
Why exactly should you choose Pontem?
The answer is simple. Pontem Network is the solution for the various demands of different markets and individuals. Several crypto-developers have already shown interest toward Move VM. A few reasons for this is its high security and the growth opportunities in the emerging markets as cryptographic and non-cryptographic users are united. Pontem also uses no-code technology. So this allows users without any programming language knowledge to create softwares. Furthermore the technology will be the future of development as it will help users deploy softwares, build businesses, and deliver web and mobile applications in a much more efficient method. Furthermore, the team has experts from the Defiance team who have previously integrated the Move FM into existing blockchains.
Did you say NFTs...?
Yes! Pontem Network has the ability for ordinary users to create an NFT. NFT is usually a very niche project as it requires a lot of coding hence it is not exactly mainstream yet. However, Pontem Blocks will allow users to create custom NFT smart contracts all in a matter of a few clicks. So the process will not require any coding and will allow everyone to have access to custom NFTs!
How exactly can I create my own NFTs or other assets??
The process is simple. We’ll talk about how you can create your own NFTs.
- First, go to Pontem Blocks and click on the cube then assign the operation you need
- Next, select a block with the title Create NFT
- Input all the necessary parameters which include:
- The NFT ID
- The NFT link to the picture (video hosting) that represents NFT
- The number of NFTs needed
- Following, you’ll be able to see the cost of using this block, ie, 10 PONT
- Afterwards, set the block and click on the next cube to choose the next operation
- Then choose to Publish the NFT Token into the Open Sea section
- Add in the following parameters
- NFT address
- Number of NFTS you plan to sell
- NFT Price
- Set the block and run the operation! You’re all set!
If you’re still lost and hope to get more guidance, take a look at this step-by-step guide provided by the Pontem Network!
Give me some example use cases…
One of the use cases of the Pontem Network is Pontem Blocks. Pontem Blocks is a universal interface which will allow the creation of various products, services and other blocks. Instead of users having to write code or spend resources on a development team, the users will simply use drag-and-drop mechanics. A few of the DeFi instruments that will be available include swap tokens, provide liquidity, staking LP tokens, and more… Users can create strategies, bundle up operations in one transaction or even develop their own blocks as well as earn. the information that Pontem blocks is just one of the possible use cases of Pontem. Pontem can be used for many other use cases. Pontem Blocks just the tip of the iceberg. User’s imagination is the only limit.
Check out more about Pontem!
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