Elysium Blockchain: In Detail
All The Information On Our Carbon Neutral Blockchain For Metaverses- In One Place.
Are you a VulcanVerse land owner? Level up to hold a Demeter Node.
Before we dive further into the details, here are the main points you need to know about the Elysium blockchain:
- The gas fee from transactions on Elysium will be used to plant trees, with nearly 70,000 acres of land in place for the creation of new forests
- All transaction fees are paid with $LAVA
- 39 projects confirmed (so far)
- Fast transaction speed, low fees
- Elysium will provide approx. 2500–3000 transactions per second (as a comparison, Ethereum provides 15–20 transactions per second)
- Built with the best technology (Substrate, compiled to Wasm, libp2p for networking, coded in Rust)
- EVM Compatible and can work with Solidity Smart Contracts
- Guarded and validated by a network of 51 authority nodes using proof of authority (PoA)
- Node types are Cronus, Demeter and Forge (with 6 individual tiers)
Right, with that out of the way, let’s deep dive..
Elysium Blockchain: The Details
Elysium is a Layer 1 carbon-neutral blockchain, designed for blockchain gaming and metaverses in particular. We’re built for speed, cost, ease of use and ensuring we leave a light footprint in the earth as we negate our blockchain energy use.
We understand and share the concerns aired by gamers surrounding blockchain and the environment. We often hear that “NFTs and blockchain use is energy-intensive”- well, it is! At Vulcan Forged, we care about the environment and so have sought out a solution that allows for all of the benefits of ownership that blockchain gaming brings, whilst not contributing to the destruction of the planet. For this reason, through a partnership with Coorest, we’re planting trees on 70,000 acres of land.
How will this work? The gas fee from Elysium transactions will be used to plant tokenized trees, offsetting the CO2 emitted by the blockchain and leading to the creation of new forests. We’re planting 50,000 ‘blockchain monitored’ trees in Spain to start this process. These trees will absorb 3.5 million kilograms of CO2 every year (70KG per tree, per year), ensuring that transactions, NFT minting, staking solutions and all other on-chain operations are carbon-neutral.
As further reassurance, unlike some green initiatives, there’s no double spending or double counting, everything is quantifiable. Chainlink’s satellite-based global biomass monitor is put to excellent use.
The Great Migration 2.0
Those of you who already have Vulcan Forged NFTs and funds in $PYR and $LAVA, our native currencies, will need them transferred to the Elysium blockchain. For NFTs the process will be simple and requires little more than logging in to a MetaMask account. Moving funds however, will be a manual process.
Migrating NFTs to Elysium
Vulcan Forged ecosystem NFTs were VeChain NFTs. As Elysium blockchain is integrated in My Forge and the user is prompted to connect their MetaMask wallet, My Forge will automatically transfer their owned VeChain NFTs to newly minted Elysium NFTs in their connected MetaMask wallet.
Migrating Funds To Elysium
Funds will need to be transferred by the owner, but fear not — we will provide detailed information on this to ensure the process is as simple as possible.
For the uninitiated, a blockchain node is a decentralized ledger used to keep track of cryptocurrencies; a blockchain custodian. We have several types of nodes or ‘Forges’ as we prefer to call them. These are touched on below but covered in much more detail in our series of articles of which links to appear below. Individual users can be Node or Forge owners and there are benefits for doing so.
The most accessible of all of our Elysium blockchain nodes for the everyday user. Previously known as Typhon Nodes, simply stake $PYR and receive $LAVA. Your $LAVA rewards will increase as the length of the locking period increases. There are six Forge tiers, from Cyclops up to Kraken. Read about our Elysium Forges in detail.
Our Cronus Node owners will be known, trusted entities; from partners to game developers, Vulcan Philosophers to respected community contributors, venture capitalists and more. It is the Cronus Nodes, a network of 51 authority nodes in total, that will guard and validate Elysium transactions using Proof of Authority (PoA). PoA is a consensus mechanism that gives a small and designated number of blockchain actors the power to validate transactions and interactions with the network and to update its distributed registry — based on identity as a stake.
Elysium authority nodes require hardware (server) and special software provided by Elysium and the nodes will be hosted at strategic locations throughout the world using carbon-neutral data centers and servers only.
These authority nodes will receive part of the transaction fees generated on the Elysium blockchain. The nodes will also receive a percentage of the royalty fees generated on Elysium.
More on that in the first of our Elysium Node Program articles.
These are ‘land’ nodes. A user will qualify for a Demeter Node by holding land in VulcanVerse at level 4 or above. VulcanVerse land comes in the form of NFTs that each provide 20 x 20m plots in VulcanVerse, Vulcan Forged’s blockchain MMORPG. There are only 9918 land plots in VulcanVerse, all of which are already owned (though a new user is able to buy one on the marketplace).
Part of the Elysium $LAVA transaction fee will flow into the Demeter $LAVA pool. This will then be distributed between all land plots from level 4 and up.
Elysium Blockchain Tools
No blockchain is complete without a set of tools produced especially for users and businesses. Elysium comes with a suite of powerful tools, as described below:
Our decentralized exchange (DEX) is currently transitioning from VulcanDex to ElysiumSwap. It is a peer-to-peer exchange where users can trade cryptocurrencies directly without the need for a centralized intermediary (banks etc) to facilitate the custody and transfer of funds. This is done through the use of self-executing agreements written in code called ‘smart contracts’. Users are able to provide liquidity and earn through pools and farms alongside trading tokens.
Our launchpad is a digital asset fund raising platform on Elysium, designed to help and advise project teams, whether pre-build advisory services to offering a helping hand along the way, partners will be able to use Elysium Launchpad to launch their project and raise funds —gaining from the worldwide exposure Elysium and partner projects bring.
The Elysium Game Software Development Kit (SDK) is a set of software-building tools for Elysium blockchain, which includes building blocks, debuggers and more. Our SDK will allow a team to integrate blockchain transactions game-side.
Elysium Scan is our Elysium blockchain explorer, a platform that allows users to access any Elysium blockchain transaction. Elysium Scan is both an analytics platform and block explorer, allowing users to access any Elysium blockchain transaction.
Elysium’s Bridge allows users to effortlessly bridge tokens between Elysium, Polygon, Binance and Ethereum chains using smart contracts.
Elysium comes with three protocols — GIFT, Magma and Surge.
The Elysium GIFT Protocol adds generalized native fee delegation to the Elysium blockchain, allowing anyone to use a decentralized application regardless of their knowledge of blockchain technology. The GIFT Protocol removes the toughest barriers for adoption — the gas fee can be sponsored by anyone for anyone.
The Magma Protocol allows for automatic conversion of all tokens using Elysium blockchain to PYR on the back-end using ElysiumSwap on all Agora (our Elysium marketplace) transactions. Put simply, buying any NFT with any ELS-20 token will output the fees involved in $PYR (or $LAVA) using ElysiumSwap
The Surge Protocol allows a user to use any in-wallet token as their gas fee. The user simply chooses one of the tokens available and this is converted to $LAVA backend which is then used as gas to process a transaction.
Since you’re here, you’ve likely heard of NFTs. Like Ethereum and other chains, Elysium blockchain plays host to its own native token interfaces — and not all are NFTs:
ELS-721 — our Elysium non-fungible tokens (NFTs), dynamic by nature and ready for use as art, in gaming or elsewhere. Individual users can mint ELS-721 tokens through Agora. What do we mean by “Dynamic NFTs”? They allow unlocking of images in your NFTs by using $LAVA or $PYR. This means that your NFT data is not fixed. For example the image can be changed or upgraded should you want that option, it is not fixed.
ELS-20 — these are our fungible, interchangable tokens that represent a single entity. These can be minted by projects joining Elysium.
ELS-M1 — allowing interoperability of NFTs between metaverses and storing / loading entire MetaScapes plot data. This token type is specifically for use with MetaScapes, the Metaverse as a Service (MaaS) platform, currently under construction on Elysium.
About Vulcan Forged
Vulcan Forged is a blockchain game studio, NFT marketplace, and NFT minting engine. Vulcan Forged is the creator of VulcanVerse and Berserk, and many other games. The ecosystem is expanding rapidly, and many games are being enabled within the play to earn economy.
The native token used within the ecosystem is $PYR. The secondary token $LAVA acts as a play to earn tokens. This dual token economy structure is ideal for play to earn. Scholars will earn $LAVA while playing the Vulcan Forged games and will be able to forage special NFTs while in-game. These can be sold on the Vulcan Marketplace for $PYR.
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