Holograph recently tweeted about going live on Avalanche, Polygon, and Ethereum mainnets. The platform makes developing multichain digital assets 10 times quicker, quicker, and easier.
According to Holograph, the recent increase of execution environments in the form of rollups, sidechains, and layer 1s. It has provided elevated access to inexpensive blockchain space.
Since the trend keeps growing, it can be assumed that several execution environments will emerge similar to tokens. However, if these environments did not have a clean way to collaborate, data and liquidity fragmentation would be an issue.
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It will ultimately lead to increased security risks, development overhead, higher fees, and network congestion. This is where Holograph chimes in, offering a multichain virtual asset framework for Web3 adoption.
The platform aims to enable the release of native multichain virtual assets existing as a single instance throughout several execution environments. NFTs minted via Holograph, also called hNFTs, will maintain the same token ID and contract address in every EVM environment.
It will enable them to travel across networks with complete provenance. On the other hand, fungible tokens integrated with hTokens will also maintain the same address over every EVM environment. It will provide a clear method to audit the locked liquidity.
Holograph allows users to mint every digital asset equally, as stated by the platform’s latest tweets. If an asset boasts the same properties in every execution environment, the original minting platform for the asset will not matter.
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In the end, introducing native multichain virtual assets allows smart contracts to interoperate through every EVM environment. This will also lead to the development of new user experiences, such as natively integrated multichain apps. Seeing how users have generated a warm response for the platform, Holograph seems to be on the right track.
