I. Ethereum Blockchain

During the design of the project, the choice of blockchain came naturally for the team. In this context, and after investigating the different opportunities, as well as their advantages and disadvantages, the adoption of the Ethereum blockchain presented itself as an obvious choice for the team.

What is Ethereum ?

Ethereum is a platform based on blockchain technology, and the first to allow developers to create and deploy decentralized applications or DApps (for decentralized applications) via the creation of smart contracts (allowing the automatic execution of the conditions of a previously programmed contract). The Ethereum blockchain is currently secured by Proof-of-Work (miners use computing power to secure the network) but this security should evolve towards Proof-of-Stake with the transition to Ethereum2.0, implying in its wake many advantages in terms of adoption. As one of the precursors in the cryptocurrency ecosystem, this blockchain managed to keep its place in the face of fierce competition, notably through strong adoption and constant evolution.

Advantages of Ethereum:

This blockchain pioneer has several strengths:

• A very large community of users and developers

• A blockchain at the cutting edge in terms of security, but also innovation

• A roadmap suggesting an important evolution of the network via the passage to Proof-of-Stake, the reduction of costs, the development of solutions in terms of scalability (via Layer 2)

• A strong lead in the creation of decentralized applications and smart contracts.

That is why Ethereum met most of the features needed for the project, but also for the future of this last, and was thus selected as the best blockchain to launch our NFT collection with high frequency. In addition, the evolution of the Ethereum network, in particular via Ethereum 2.0, will eventually allow for scalability and a significant reduction in costs, but also the provision of new functionalities, in line with TooneyChain's long-term vision.