The Root Network (ROOT) news

What Is The Root Network (ROOT)?

The Root Network has been specifically designed to serve as the central hub for the open metaverse, providing connectivity between anything and everything. It offers a range of protocols that focus on core, UX, and digital content, ensuring that users can enjoy a seamless experience while also benefiting from enhanced asset interoperability. The platform prioritizes safety and user experience, boasting built-in account abstraction and an innovative token gas economy that enables some of the world's largest content brands to onboard users both safely and easily. The network is EVM compatible, built on Substrate, and integrated to XRPL and ETH with other networks on the horizon, which means that content and accounts on those networks can access deeper functionality and more interoperability in the open metaverse.

Who are the Founders of The Root Network (ROOT)?

The Root Network is a community project that has been founded by Futureverse. Futureverse is a media tech company that operates globally and has its headquarters in Auckland, New Zealand, and multiple offices around the world. The company's initial goal was to establish the real foundation of the open metaverse by bringing together 11 technology and content companies. Futureverse was established by Aaron McDonald, Shara Senderoff, Marco Brondani, and Daniel Gillespie. The company has leveraged its vast expertise in web3, AI, and entertainment, as well as intellectual property from some of the most renowned brands worldwide, to kickstart the applications on The Root Network.

What makes The Root Network (ROOT) Unique?

The Root Network was created to enhance user experiences and interoperability for content-oriented applications in web3. Developers can easily build such applications using the integrated range of core runtimes without having to build their own smart contracts. The rewards economy of The Root Network is unique and collects fees from various network activities to create a pool of rewards for network participants. The network comes prebaked with several protocols, such as the NFT Runtime, In-Chain exchange, and digital collectibles protocol for creating and trading digital collectibles. Additionally, The Root Network has UX protocols that simplify user onboarding and optimize the gas fee economy, asset bridges for transferring and referencing fungible and non-fungible collectibles, and a native identity protocol for establishing a persistent and secure digital identity. The network also comes equipped with metaverse protocols, including the Asset Register and social data protocol, and a native protocol for owning AI-powered collectibles.

What is the ROOT Token?

The ROOT network relies on its token, which is used by node validators and delegators to ensure the security of the Proof of Stake network. Through a NPoS (nominated proof-of-stake) mechanism, validators and nominators work together, with nominators supporting validators with their tokens. This staking process plays an important role in maximizing chain security, making it exceedingly difficult to engage in malicious behavior.