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ArkProject: Trading Digital Assets Made Easy

Introduction

The current state of digital asset trading is inefficient and fragmented, resulting in a complex environment that hinders creators from selling their digital assets seamlessly.

The Problem

The way digital assets are currently traded is inefficient. The market is fragmented across different blockchains and layers that define a constraining and complex environment for any creators looking to sell digital assets. The genesis of this problem can be divided into two distinct categories.

The first category is related to a lack of initial infrastructure and vision within our ecosystem. This includes:

  • Disparate standards for marketplaces and royalties.
  • Limited access to data generated by the market.
  • Non-existence of digital assets interoperability.

The second category relates to the blockchain technology itself. This includes:

  • Non-intuitive user experience, hindering the potential for a mass market appeal.
  • Low blockchain performance, further hindering the user experience.
  • High gas fees, adding a final layer of friction that hinders retail and business adoption.

As a result, selling NFTs is a time-consuming and complicated process for creators.


The Solution

In the aim to address both categories of problems listed above, we envision a solution built on four main pillars:

  1. Choosing the Best Underlying Technology

We strongly believe that Validity Proof Technology, particularly ZK Rollup, is the most effective technology for enhancing Ethereum's scalability. After careful consideration and thorough benchmarking, we have concluded that Starknet is the ideal ecosystem for ensuring the highest level of scalability for digital assets. Here's why:

  • Firstly, Starknet is the most advanced technical solution for scaling Ethereum, offering unparalleled performance and the most cost-effective infrastructure in the long run.
  • Secondly, with account abstraction integrated at a protocol level, creators can deliver an exceptional user experience across the entire web3 ecosystem, making it the best choice for scalability.
  1. Creators First

Having learned from past mistakes made on Ethereum (Layer 1), we're committed to setting strong standards from day one within the Starknet ecosystem (Layer 2). To create a sustainable environment for creators, we're implementing creator royalties within our protocol. This way, creators can focus on building for the long term with confidence.

Research done during the Tel aviv Hackathon

https://www.figma.com/file/TE2LdAJUgHNuVn0IYxK9NL/NFT-EXCHANGE-PROTOCOL-VISION?node-id=0%3A1&t=ps5WxTqDr8RkKZiU-1

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