Why does the Monkeyzoo project use the Chia Blockchain?
It is because we are smart and believe in the core fundamentals that the Chia blockchain offers.
Blockchain technology has moved on from Ethereum
and so have we.
Here are a few of the reasons we choose the Chia blockchain.
We believe that the Chia blockchain offers ourselves as a company and you as our customers the very best security for our assets. With the security of Bitcoin and a more secure smart contract functionality than solidity that is used on Ethereum, it makes the Chia blockchain the most advanced blockchain technology to date. This is a massive improvement on account based blockchains as it removes the threat of wallets being drained through bad actors. We will shortly be able to easily use the Chia custody solution which will allow additional security of secure vaults within wallets and clawback functionality. The Chia blockchain is also the most decentralised blockchain on the planet with over 120,000 full nodes (these are the computers that secure the network).
With the Chia NFT1 standard we can offer multiple links to your image and metadata's IPFS storage. This means, if one link goes down for any reason, you have backup links to rely on. Monkeyzoo mints our characters with three separate IPFS links and as a customer you have the ability to add an additional link to your assets on top of the ones we supply. This is all done on chain to ensure permanence which is not possible on other blockchains.
Chia also has fixed provenance with NFT's. We mint all of our characters using our DID (digital identification), which allows us to protect our IP rights and also let you know that you are purchasing a genuine Monkeyzoo product. See our What is a DID page for more information.
Chia allows us to link a licensing agreement to each of our NFT's which shows you as the customer what you can and cannot do with specific NFT's. Our licences gives you a brief outline of the do's and don'ts and directs you to our website Terms and Conditions for more information.
Peer to Peer trading
As the Chia blockchain is based on the coinset model blockchain like Bitcoin's UTXO model it allows us the ability to trade P2P (peer to peer). It gives us the ability to trade with individuals rather than through a marketplace which not only gives a better customer experience but a much higher level of security.
Chia has also made it possible to bake in a royalty percentage at mint, which allows us to guarantee royalties and allows us to structure our business model going forwards.
Currently the fees on the Chia blockchain are very low, no more having to spend more on transactions fees than the NFT you are purchasing. It cost a fraction of a penny to make any transaction.
CAT (Chia Asset Tokens)
Chia has created CATs (Chia Asset Tokens ) on the Chia blockchain, this allows us to reward our holders with our very own Monkeyzoo token that is used to purchase Monkeyzoo characters, upgrade future characters and much more, see the What are CAT tokens page for more information.
These are only a few of the reasons we choose the Chia Blockchain and if you would like to learn more about the Chia blockchain and the NFT1 standard, visit https://www.chia.net/ where you can dig much deeper into the proof of space and time consensus and find out why places like the World Bank and Climate Action Data Trust uses the Chia blockchain technology.
You can also keep up to date with all things Chia by visiting XCHdev.com
Want to learn more about the Chia blockchain?
Head to Chialinks.com where you can find a multitude of information about everything Chia.