Solana NFT
Marketplace
Development

Solana Blockchain is a high-performance blockchain supporting builders around the world creating crypto apps that scale today. And it is the most popular blockchain network after Ethereum at the moment. Mobiloitte is one of the top Solana Marketplace Development Companies of the World.

NFT Marketplace on Solana

Solana is a blockchain that aims to allow dApp developers to quickly launch crypto apps while avoiding the congestion and scalability difficulties that plague existing networks. Solana’s focus on scalability aims to provide developers with both the infrastructure and bandwidth they need to help their decentralised goods and services gain global popularity.

The verification system is the cornerstone of Solana’s scalability innovation. Solana employs a proof-of-stake (PoS) system in which miners must possess a certain amount of SOL to validate transactions and add new blocks to the blockchain.

How does an NFT Marketplace Work?

Users can create their digital assets by uploading items to show their work. The user can also choose which payment tokens they would like to receive on their terms and set a fee if the platform allows that. The next step in the process is to list items for sale. The user can choose a bid at a fixed price or auction. A transaction is created when it is listed in a sales item to initiate a personal trading contract of the user’s wallet.

The platform may require cluster rating and NFTs will appear on the list after approval.

 

Advantages of Solana

At peak load, the Solana blockchain can sustain over 50 000 transactions per second (TPS), making it the fastest blockchain in operation to date. Unlike certain platforms, the Solana validator can be used by anybody to assist in protecting the network. This process does not require any permissions, but users will need some basic hardware to participate, notably a server that fulfils the minimum requirements stated below. The network currently has almost 1000 validators, making it one of the most popular blockchains.

What Is Solana and How Does It Work?

Solana’s Proof of Stake (PoS) consensus technology, which is backed up by Tower Consensus, is one of the most important aspects. This is a variation of the Practical Byzantine Fault Tolerance (PBFT) technology, which allows dispersed networks to reach agreement in the face of malicious node attacks. Solana’s PBFT implementation uses a Proof of History to give a global source of time on the blockchain (PoH).

This synchronised clock is used by Tower Consensus to decrease the processing power required to validate transactions by eliminating the need to compute previous transaction timestamps. This enables Solana to outperform the majority of its competitors in terms of throughput.
Solana has a lot of unique features that set it apart from the competition. Sealevel, a transaction parallelization technology, is one of them. It allows for a parallel smart contract execution environment that saves time and assures that Solana can scale horizontally across CPUs and SSDs.

Solana is an open-source blockchain that provides an infrastructure and ecosystem for decentralised app distribution. Solana is distinguished from its competitors by its speed, bandwidth, and scalability.

Solana has attracted a varied spectrum of developers to its ecosystem, including those that specialise in DeFi applications, thanks to its speed and scalability advantages.

Following are some of the features that can be added to the NFT marketplace:

  • 1

    Storefront

    NFT marketplace will have a storefront that offers users all the information required for an item: bids, owners, preview or price history.
  • 2

    Filters

    Using filters, it becomes easier to navigate a site, specifically if you plan to build a marketplace place for a lot of collectibles. By adding the filters feature, users can select items by payment method, listing status, category and collection.
  • 3

    Searching for items

    An NFT marketplace platform should support tagging and category management to allow users to search collectibles. Use a search bar on the site and add categories.
  • 4

    Create listings

    A user should be able to create and submit collectibles. Using this feature, a user should upload files and fill in the token information such as name, tags, description.
  • 5

    Buy and Bid

    The NFT marketplace platform should have a feature that allows users to buy and bid for NFTs listed on the platform. The bidding feature should include a bid expiration date and allow users to view details about the bids’ current status.
  • 6

    Wallet

    The NFT Marketplace Platform should have a wallet that allows users to store, send and receive non-fungible tokens. The easiest way to integrate this feature is to provide users with a connected wallet that they already use. For example, you can integrate the most popular wallets like Coinbase, Formatic or MyEtherWallet.

Technology Stack Used for Your SOLANA NFT Marketplace

Blockchain technology

  1. Solana
  2. Ethereum
  3. Binance Smart Chain
  4. PolkaDot
  5. Cardano
  6. Tron
  7. Cosmos
  8. WAX

Smart Contract Deployment

  1. Drizzle
  2. Ganache
  3. Truffle
  4. Brownie
  5. Hardhat
  6. OpenZeppelin

Program Language

  1. Javascript
  2. Python
  3. Solidity
  4. Rust

Database Management

  1. MongoDB
  2. MySQL
  3. PostgreSQL

Hosting

  1. AWS
  2. Elastic Compute Cloud (EC2)
  3. Relational Database Service (RDS)
  4. Simple Storage Service (S3)

Wallet Connectivity

  1. Web3.j
  2. Ether.js
  3. Aether.js

Material UI

  1. HTML5
  2. CSS3
  3. Bootstrap

Frameworks

  1. Front End
  2. React.js
  3. Angular.js

Storage Platforms

  • IPFS

    IPFS is a peer-to-peer hypermedia protocol designed to store high-quality media content. Since the NFTs-related media file cannot be stored directly in the blockchain, IPFS can store all that data.
  • Filecoin

    Filecoin is a dedicated storage network designed specifically to store highly sensitive information, such as media files. The storage platform incorporates all that an engineer will need to start with NFN-enabled storage. Recognizing its benefits, Truffle Suite has also introduced the NFT Development template with Filecoin Box.
  • Pinata

    Pinata is also one of the popular platforms for uploading and managing files on IPFS. Provides secure and certified NFTs files.

NFT Standards

ERC-721
ERC-1155
FA2
dGoods
TRC-721

Anticipated Team Charter

Business
Analyst
To draft wireframes and ensure implementation of business logics as discussed with client during wireframing stage
Blockchain Developer
A Blockchain Developer would be responsible for ensuring smoother delivery of the project from Blockchain perspective
Backend Developer
A Blockchain Developer would be responsible for ensuring smoother delivery of the project from Blockchain perspective
Frontend Developer
A Blockchain Developer would be responsible for ensuring smoother delivery of the project from Blockchain perspective
Product Manager
To manage and supervise the development as per the planned sprints.
Quality
Analyst
To prepare the test cases based on user case scenarios
DevOps Developer
Secured server architecture and deployment

Why Mobiloitte For Your NFT Marketplace?

We at Mobiloitte are at the forefront of Blockchain and NFT marketplace development. We offer NFT marketplaces in Solana, Ethereum, Polkadot, Polygon, Binance to name a few. Large, multidisciplinary experienced teams in various Blockchain & Front-end technologies, Storage platforms, and NFT standards, covering all the bases for a successful project launch.

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