Polkacipher: A Cross-Chain Oracle focused on NFT Privacy
Today, the permeation of blockchain technology indicates the maturity that the blockchain ecosystem has undergone thus far. It is also indicative of the types of innovation that the market will soon demand. For this reason, Polkacipher produced a project that is tailored towards uniting both the physical and virtual world through blockchain technology, specifically cross-chain oracles focusing on NFT privacy in regard to businesses.
Polkacipher is primarily focused on providing privacy solutions for DeFi and NFTs thereby allowing businesses to take advantage of blockchain’s expanding use cases. To achieve its aim, Polkacipher’s proprietary technology has gravitated towards providing investors and partners with solutions that enable them to leverage a suite of cross-chain tools. Polkacipher’s market entry is quite timely, considering the hype around NFTs. By showing more possibilities around NFTs, Polkacipher may be shaping an emerging market segment in the blockchain.
Merging the new and the old
The world is evolving and the strong attention on anything bothering around the Metaverse has shown that there is a need to change our perspective on how we interact between the virtual and real world. Polkacipher has several exciting features that bridge the physical, off-chain, and on-chain world including the burgeoning virtual world of art. For instance, through Polkacipher, artists could authenticate and protect the provenance of their physical works using NFTs. Virtual markers can be integrated with original artwork providing links to NFTs that prove ownership or authenticity of art pieces.
One of the features of Polkacipher that can make such applications possible is the data matching mechanism of the platform. Smart trackers that match input data and output data can verify or authenticate art pieces globally. In addition to authentication, the smart trackers allow transacting parties to view the status of orders as they move from the seller to the buyer. This is made possible by blockchain-based IoT devices.
The multichain interoperability function of Polkacipher confers compatibility across the different possible chains used by artists and their target markets. Thus, there are no limits to cross-chain transactions, creating a broader market reach for sellers and a vast pool of artists to choose from for buyers.
Further still, users of the platform can be assured of data privacy throughout the verification period. Privacy protection ensures that data providers remain anonymous, which is convenient for artists who would want to remain anonymous as they spread their work. With partnerships with other gaming and NFT platforms, Polkachipher has enabled its privacy-focused solution NFTzie. Users can now utilise the NFTzie bridge to mint privacy-enabled NFTs as well as track transactions of their collectibles in real-time utilizing the prowess of the Polkacipher multi-chain scan functionality.
Polkacipher provides limitless possibilities to creators and Businesses
The example illustrated above on the possibilities of refreshing the art industry by merging old services with new services is just the tip of the iceberg. Through NFTs, the platform can change business operations in numerous global industries. Polkacipher can be applied to everything transferring, authentication, and verification of assets, including immovable assets such as land. NFT privacy can remove the hassle of paperwork by integrating the verification process through Polkacipher.
In addition to asset transfer, remote access to wallets can also be possible by locking their crypto in digital lockers and minting an NFT as the key. This would allow access to the cryptocurrency remotely while keeping them secure. Polkacipher is also extending its reach into fantasy gaming and giving users an ambitious multi-chain NFT ecosystem. With the NFTzie tools, gamers, digital collectors and other stakeholders get a multichain scan, data pointers, and chain agnostic NFT marketplace that allows them to put their digital assets to use from one place. A typical example of this would be the partnership between Polkacipher and GamyFi.
Businesses are not left out in the Polkacipher solution as bNFTs (Business Focused NFTs) allow businesses to utilise the platform for minting digital documents on NFT and distributing them privately to the concerned party. Users can easily mint single asset NFTs on PolkaCipher with just a few clicks and get them to the owners privately using the bNFTs. These NFTs can be encrypted and protected from the prying eyes of the public ensuring its total privacy and what’s best, users can move their assets from one chain to the other using the NFTzie.
As the number of innovators increases their awareness of Polkacipher, so will simultaneously the number of real-world applications that will also concurrently arise.
PolkaCipher is a privacy-preserving oracle network on the Polkadot Blockchain focused on bringing the use case of private NFTs to off-chain businesses and be a bridge for seamless integration to on-chain Defi apps.
PolkaCipher’s unique offerings help push the use-case of the NFTs in real-world scenarios while still being connected to a cross-chain network that is fair and accurate. PolkaCipher intends to achieve business goals by helping users transact privately and securely using NFTs as a mode of access to different decentralized apps (Dapps) and real-world business rewards.