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BLOCKCHAIN
Monbase
An NFT marketplace platform
Client
Confidential
Duration
2 months
Category
Blockchain
Year
2024
Technology
AWS, Mongo Atlas, Infura IPFS, Solidity, The Graph, Lambda serverless, NodeJS, ReactJS
Introduction
Monbase is an NFT marketplace platform that aims to facilitate the buying, selling, and discovery of NFTs across the BNB Chain, positioning itself as a leading digital asset exchange.
Challenges
Monbase aims to be the leading NFT marketplace accross the BNB Chain. However, several challenges stood in the way of achieving this goal:
– Data synchronization: Operating across five distinct blockchain networks (Bitcoin, Solana, Ethereum, Polygon, Base) presents immense complexity in terms of ensuring seamless asset transfers, consistent data representation (metadata, ownership), and real-time synchronization
– Scalability and performance across diverse blockchains: Handling a high volume of transactions and user interactions across multiple blockchains, each with its own throughput limitations and gas fee structures, is a significant challenge. Ensuring low latency for listings, bids, and purchases, while managing the computational demands of indexing and presenting vast amounts of NFT data from diverse chains, requires a highly optimized and scalable infrastructure.
– Security and fraud prevention: A multi-chain NFT marketplace introduces new attack vectors and complexities for security. Ensuring the integrity of asset bridging mechanisms, protecting against phishing attacks targeting users across various chains, and effectively vetting projects and collections to prevent the listing of counterfeit NFTs or engagement in pump-and-dump schemes across all integrated networks are paramount for maintaining user trust.
Solutions
To overcome the challenges, Hola Tech adhered to the best practices. Key components of the solution included:
– Advanced data synchronization mechanisms: Monbase implemented sophisticated indexing solutions, leveraging The Graph for EVM-compatible chains (Ethereum, Polygon, Base) and custom NodeJS services for Bitcoin (Ordinals and Runes) and Solana. This ensures real-time capture and consistent representation of NFT and Runes metadata, ownership, and transaction histories across all five distinct blockchain networks.
– Highly scalable and performant infrastructure: To manage the immense computational demands of a multi-chain marketplace, Monbase utilizes a robust backend powered by NodeJS for core logic and AWS Lambda for scalable, serverless processing of events and API requests. MongoDB Atlas provides a flexible and highly scalable database solution for storing and querying vast amounts of aggregated NFT and Runes data from various chains, enabling low-latency listings, bids, and purchases. This architecture is designed to seamlessly handle high transaction volumes and data queries across diverse blockchain environments.
– Comprehensive security and fraud prevention protocols: Monbase employs multi-layered security measures to protect users and assets across all integrated networks. This includes rigorous smart contract audits for all Solidity contracts on EVM chains, robust validation mechanisms for Bitcoin Ordinals and Runes, and secure asset bridging solutions (where applicable). AWS security services, such as WAF and IAM, are implemented to protect the backend infrastructure.
Featured numbers
– Supported over 5 distinct blockchain networks for seamless NFT and Runes trading
– Listed over 500,000 unique Ordinals, Runes, and NFTs from various collections
Results
The implemented system successfully met Monbase’s requirements for cross-chain performance, comprehensive security, and multi-faceted functionality. The platform has significantly lowered the barrier to entry for users seeking to explore and trade digital assets across diverse blockchain ecosystems. Monbase has empowered these users to buy, sell, and discover unique NFTs efficiently, demonstrating Monbase’s success in providing a truly unified, seamless, and accessible solution for the rapidly evolving multi-chain NFT economy.
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