Multichain support: Livetree enables creators to choose their preferred blockchain network
Blockchain technology first widely gained the ability to support functional programs (“applications”) with the launch of the Ethereum blockchain. Ethereum provides the ability to code decentralized applications (“smart contracts”). These applications, written in the Solidity programming language, are compiled and executed on an Ethereum Virtual Machine (“EVM”). The EVM provides state management and execution of the applications via a decentralized network of computers (“Miners”) in return for a miner (“gas”) fee.
With the popularity and adoption of Ethereum increasing over the last 2 years, several competitor blockchains have been developed to combat Ethereum’s high blockchain fees (“gas”), scalability, and intrinsic limitations of the Solidity programming language.
These alternative EVM-based blockchains (such as Moonbeam, Binance Smart Chain, Avalanche, Fantom, Polygon, Unique, Celo and others) work similarly to Ethereum and provide applications with decentralized capabilities via their own implementation of the EVM. Typically, these blockchains have copied (or ‘forked’) the underlying code of Ethereum and modified it, adding their own implementations. This approach provides the advantage of supporting the Solidity programming language and the wide set of developer tools built around Smart Contract development while being able to change the fundamental way the miners execute the programs with the goal of providing scalability and reducing gas fees.
Livetree infrastructure supports all major leading L1 EVMs and acts as a portal to each. Our unique infrastructure accurately accounts for both on and off-chain transactions in multiple currencies and tokens and enables creators with the ease of a dropdown box to choose which blockchain they wish to create their Collective.
When choosing a blockchain, creators should consider two key factors. Firstly, the technical advantages of the chains both currently and in the future, such as new execution paradigms and more efficient virtual machines. For example, Unique EVM blockchain on Polkadot's Substrate parachain framework offers a potentially more environmentally friendly transaction execution, while Avalanche enables developers to create their own scalable blockchain virtual machines. Secondly, creators should consider the native token of the blockchain, as each collective's revenue is held in the native token of the chain (e.g., ETH for Ethereum, GLMR for Moonbeam, CELO for Celo, etc.). This allows creators to choose the cryptocurrency in which they want to retain their collective earnings. It's important to note that creators can also opt to be paid directly in fiat if they choose not to use collectives or to split their income based on specific content.
By considering both the technical advantages and tokenomics of different blockchains, creators can make an informed decision that aligns with their preferences and goals. Regardless of how informed creators are about the different blockchain options, the decision-making process is simple and user-friendly. Creators can easily choose their desired blockchain by selecting from a dropdown box that lists the available blockchain names.
The infrastructure of the platform takes care of deploying all the necessary self-custodial smart contracts to the selected chain, streamlining the process and ensuring a seamless experience for creators.