What is Immutable (IMX)?

Immutable positions itself as a pioneering layer-two scaling solution for NFTs on Ethereum. It addresses Ethereum's limitations, such as low scalability, poor user experience, illiquidity, and slow developer experience. By utilizing STARK zk-rollups, a technology highly endorsed by Vitalik Buterin, Immutable offers instant trading and massive scalability, along with zero gas fees for minting and trading NFTs, ensuring both user and asset security. This technology enables users to create and distribute assets like ERC-20 and ERC-721 tokens on a large scale. Gods Unchained, a project already adopting Immutable, praises its ability to implement a new meta-system that was previously unattainable, promising a world-class experience for users and developers alike.

Who are the founders of Immutable?

Immutable was founded by James Ferguson and his brother Robbie Ferguson, both of whom are recognized entrepreneurs in their respective fields. The team consists of over 100 members with diverse backgrounds in blockchain, FAANG (Facebook, Apple, Amazon, Netflix, Google), finance, fintech, and management consulting. They have received significant investments from well-known blockchain investors, including Coinbase, Naspers, Nirvana Capital, Apex Capital Partners, Continue Capital, and Galaxy Digital.

What makes Immutable unique?

Immutable X is a layer-two scaling solution that focuses exclusively on NFTs and utilizes zk-rollups, making it a cutting-edge development in the Ethereum ecosystem. It aims to become the default "NFT blockchain" in the future, provided it achieves its promised transaction speed of over 9,000 transactions per second.

The project's API abstraction layer enables easy NFT-related interactions through REST APIs, attracting new entrants like established gaming and content companies. Users can connect their wallets without switching networks, thanks to the "Link" intermediate layer, which ensures an NFT-specific wallet experience without compromising security.

The shared global order book facilitates protocol liquidity, allowing NFT marketplaces to be built on Immutable X without requiring a backend. This enables third-party marketplace solutions to coexist with the protocol's native marketplace, lowering barriers of entry for content creators and smaller developers.

Explain the network security of Immutable.

The protocol's unique API abstraction layer allows for easy NFT-related interactions through REST APIs, attracting established gaming and content companies to the space. Users can seamlessly connect their wallets without switching networks, thanks to the intermediate layer called the "Link," ensuring an NFT-specific wallet experience while maintaining security.

The network's security is enhanced through zk-rollups, inheriting the native security of the Ethereum blockchain. This approach makes a 51% attack on Immutable unfeasible. The use of STARK proofs further enhances user security, despite higher costs, by ensuring post-quantum security.

Remaining on Ethereum as a first-layer solution aligns with Immutable's commitment to trustless and decentralized asset ownership. While Ethereum has faced challenges with gas fee spikes and network congestion, it remains the primary choice for NFT projects due to its focus on decentralization over short-term scalability upgrades.

What are the recent developments in Immutable?

Immutable, a leading web3 gaming company, is partnering with Magic, a wallet-as-a-service provider, to launch Immutable Passport, a non-custodial wallet and authentication platform. The platform aims to streamline user onboarding for Web3 games through passwordless sign-on and automated wallet creation. This will enhance security and accessibility for mainstream gamers and game studios. By incorporating Magic's scalable non-custodial wallet technology, Immutable Passport offers a universal and user-friendly approach, allowing players to use a single digital identity across multiple games and marketplaces without a complex wallet setup. The collaboration bridges the gap in the industry by combining identity, onboarding, security, payments, and a heightened user experience for Web3 gamers. Immutable Passport has the potential to revolutionize Web3 gaming by making it more accessible and secure while enhancing user experience and expanding the Web3 gaming ecosystem.

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