A New Focus On InvArch
Since its beginnings, the InvArch ecosystem has experienced significant development and has given itself the opportunity to evolve into a better version of itself. One of these shifts led to the decision to re-invent invArch as an IP management and development protocol for Polkadot, rather than its original role as an intellectual property and decentralized development network for web 3.0.
There are various adjustments, but they all aim to protect users’ intellectual property (IP). Users can mint their IP as non-fungible tokens known as Intellectual property tokens (IPTs), and then combine these IPTs into IP Sets to represent their IP, as was previously done.
The shift in focus of the invArch ecosystem as a result of this re-invention is from restricting how tokenized Intellectual Properties should be used to making these tokenized Intellectual Properties as powerful as possible by enhancing these capabilities through smart contract functionality.
Another notable change is the team’s usage of Parity’s pallet assets to expand the use case of the IP Ownership tokens, effectively making them totally programmable. While the Pallet will be available for other developers to reference and use, the team’s unique substrate IPO Pallet will not be used in minting the the IP Ownership tokens.
In a nutshell, InvArch is a cross between a professional networking platform and a variant of an intellectual property authenticator: instead of individuals leveraging their skills and employers offering a salary in a job application, users can leverage their skills and offer equity in a venture opportunity.
The use of Blockchain technologies can ensure the security of your innovations, articles, songs, and other digital assets. InvArch can also let you tokenize your own concept! Wow, so many advantages at one place.
The NFT technology is used in this project to bring all of the ideas together. This year, non-fungible tokens (NFTs) appear to have exploded from the ether.
The following are some of the features of the Programmable IP Ownership Tokens:
IP-based dApps’ currency
Project-specific security tokens
Royalty claims rights
Rights of access to linked IPTs
Polkadot
Polkadot is a multichain, heterogeneously sharded design that uses nominated proof of stake as its consensus technique to allow new blockchains to communicate in a secure environment. It solves the scalability and interoperability issues that many blockchains experience by using the main relay chain and individual parachains. Some of the important improvements are on-chain governance, on-chain updates, and hot-swappable runtimes; another notable invention is cross-chain message forwarding for interoperability. Polkadot has shown to be the most reliable network for deploying enterprise-level applications and those involving high-value transactions that require bank-level security and stability.
Project links below.
Website
https://invarch.io/
