Spanish blockchain outfit Freeverse has introduced it’s constructing a brand new layer 1 blockchain known as LAOS, which is able to launch as a parachain on Polkadot in 2024.
The announcement has been made at the side of 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.
When it comes to what LAOS gives, it’s labelled as “the universal layer 1 for digital assets across all blockchains”, which permits creators to mint NFTs and different digital belongings on LAOS but additionally supporting blockchains reminiscent of 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.
“Today, we are announcing a vision for an interoperable future for digital assets. Whether it’s for tokenizing real-world assets or creating assets for a game or virtual world, LAOS is positioned to meet the market’s evolving needs,” commented Freeverse’s CEO Alun Evans.
The work on LAOS is an evolution of Freeverse’s earlier initiative into dynamic NFTs, which it known as its dwelling asset ecosystem. Based in 2019 and based mostly in Barcelona, to-date it’s raised $13 million in funding, most just lately $10 million in Could 2022.
LAOS is at the moment obtainable as Ok-LAOS on Polkadot’s Kusama ‘canary’ community, with its token launch and foremost Polkadot launch anticipated within the spring of 2024.
You will discover out extra on LAOS web site, together with its whitepaper.
