Spanish blockchain outfit Freeverse has introduced it’s constructing a brand new layer 1 blockchain referred to as LAOS, which can launch as a parachain on Polkadot in 2024.
The announcement has been made together with the LAOS Basis, which is a Swiss non-profit set as much as promote the blockchain’s progress within the coming years through its possession of LAOS tokens.
By way of what LAOS presents, it’s labelled as “the common layer 1 for digital belongings throughout all blockchains”, which permits creators to mint NFTs and different digital belongings on LAOS but additionally supporting blockchains akin to Ethereum, Polygon and Solana through LAOS’ bridgeless minting structure. This leverages Polkadot’s cross-consensus messaging system, notably the idea of a Common Location.
That is enabled as a result of LAOS separates the possession of an asset and the belongings’ attributes. In addition to its cross-chain options, this implies creators can generate new attributes for belongings – together with legacy belongings – on new blockchains; one thing it hopes will drive the adoption of UGC and ecosystems.
“At present, we’re asserting a imaginative and prescient for an interoperable future for digital belongings. Whether or not it’s for tokenizing real-world belongings or creating belongings for a recreation or digital world, LAOS is positioned to satisfy the market’s evolving wants,” commented Freeverse’s CEO Alun Evans.
The work on LAOS is an evolution of Freeverse’s earlier initiative into dynamic NFTs, which it referred to as its residing asset ecosystem. Based in 2019 and primarily based in Barcelona, to-date it’s raised $13 million in funding, most lately $10 million in Could 2022.
LAOS is presently out there as Okay-LAOS on Polkadot’s Kusama ‘canary’ community, with its token launch and principal Polkadot launch anticipated within the spring of 2024.
You will discover out extra on LAOS web site, together with its whitepaper.
