Here’s how Solana Secretum’s messaging app solves major bottlenecks in the NFT market
- NFT in 2021: euphoria amplifies bottlenecks
- Secretum relies on Solana to create a next-generation NFT platform
Secretum, a one-stop-shop cryptocurrency ecosystem above Solana, is a combination of an NFT marketplace, messaging app, crypto wallet, and DEX. Here’s why its NFT-centric toolkit allows it to go way beyond being an average Solana dApp.
NFT in 2021: euphoria amplifies bottlenecks
While the craze around non-fungible tokens and marketplaces for them is far from over, the weaknesses of NFT platforms are becoming increasingly evident.
We believe Secretum has the best model for the future of secure communication 😉🔥 Be sure to check out our new support article to see why we will become the new standard.#cryptocurrency #Solana #blockchain
– SecretumApp (@AppSecretum) 28 October 2021
First and foremost, these are huge costs. As the vast majority of NFTs are issued and traded on the Ethereum (ETH) blockchain as ERC-20, ERC-721, or ERC-1155 tokens, trading fees skyrocket during periods of peak network overload. Charges can exceed 5.25% of the price of a certain DST.
Then, an NFT segment seems fragmented, which obviously affects its logistical conception of liquidity. Besides the larger NFT markets (eg OpenSea, Rarible), few platforms allow buyers and sellers to meet. This, in turn, makes the entire segment vulnerable to manipulation of all kinds.
Last but not least, existing solutions for storing NFTs – just like other crypto wallets – are often the target of sophisticated attackers. As the prices of NFTs skyrocket, such attacks are becoming more and more “expensive” for digital art enthusiasts.
Thus, the scene is in dire need of decentralized solutions that are secure, resource efficient and capable of on-boarding crypto holders with different levels of expertise.
Secretum relies on Solana to create a next-generation NFT platform
Team Secretum, a versatile ecosystem based on Solana, addresses all of these issues with its new architecture. Since Solana’s fees are 99.9% lower than Ethereum’s, all NFT transactions on Secretum are billed with negligible commissions.
In terms of security, Secretum guarantees truly decentralized data storage: instead of using a centralized cloud, Secretum relies on a distributed network of nodes. Attackers are unable to guess which node must be attacked in order to gain control of which non-fungible token.
In addition, Secretum integrates NFT market players into the ecosystem of Solana, one of the hottest smart contract platforms in 2021. Solana’s infrastructure is compatible with Enthereum as EVM was deployed on Solana in the third quarter. 2021.
Secretum does not have KYC / AML control and allows you to register only with Solana’s wallet address. This feature makes its anonymity unmatched.