Launch of NFT sidechain with IPFS implementation
The Decimal team plans to organize an NFT sidechain based on the InterPlanetary File System (IPFS), a distributed file system. This will further enhance the decentralization of the NFT creation and exchange process.
A sidechain is a secondary blockchain that operates in parallel with the main chain and is connected to it through a two-way peg mechanism, allowing assets to be moved between them.
Sidechains provide a more flexible and scalable approach to blockchain development, expanding its capabilities and improving functionality. They also enable experimentation and the development of new protocols without affecting the main chain.
IPFS (InterPlanetary File System) is a peer-to-peer distributed system for storing and exchanging files on the network, similar to the BitTorrent protocol. Unlike traditional web servers, IPFS does not rely on centralized servers but utilizes a decentralized network of nodes, each storing a portion of the data. This allows for the efficient distribution of large amounts of data. Additionally, users benefit from maximum security as only the owner of the NFT has access to the file.