LEDA Company overview
Leda is an NFT marketplace that is based on the Jupiter blockchain. Its services include non-fungible tokens, otherwise referred to as Singleton Asset tokens. Their company defines these services as a unit of data they store on Jupiter (the blockchain) and is unique and interchangeable. Leda provides you with the platform to create and own a digital platform. The Leda marketplace assures a reliable platform where you can place items such as photos, videos, audios, and art. The Leda team or developers assure you that once you tokenize your work, you are assured of its uniqueness and its ownership. The developers pride themselves on having created an excellent user interface whereby you, as the user, require no coding knowledge. You can easily upload your content and tokenize it with a few clicks.
The Lena marketplace team's vision was to create a fun and enjoyable NFT marketplace while maintaining high levels of security and efficiency.
Key Features
Easy UX experience
NFT marketplace
Jupiter blockchain
Problems faced by Leda
The marketplace is supposed to facilitate a real-life market transaction or content creation. The team of developers approached us and asserted that they encountered more users as the company expanded. They require the blockchain's speed, precision, and efficiency. Leda's main issue is scalability. The scalability of blockchain execution is calculated in terms of transactions per second. This metric is the primary concern at Leda, i.e., the number of transactions they can handle per second.
More specifically, we identified scalability as the number of computations per second. Transactions are general in terms of cost and complexity. With more transactions, you require more computational power to complete their executions at a given time. Leda's dilemma is increasing more computations per second without increasing the hardware requirements that validate transactions in blocks. Leda marketplace also raised their concerns about their Blockchain storage. Jupiter has two general forms; historical data and global state, which includes smart contracts. Full nodes need access to both rows of data as they attempt to sync a blockchain for the first time, validate new blocks, and execute state changes. Leda is experiencing slow computational power due to a growing ledger and associated storage.
Solutions for problems faced
We were able to identify that the issue is how the Leda marketplace team wishes to scale its execution layer of the Jupiter chain. We advised them to use the vertical scaling approach, and this method would involve increasing hardware requirements for block producers.
The advantage is that the Jupiter chain can support larger blocks, with a faster time rate and lower transaction costs. In effect, the transaction per second will increase, and the Leda marketplace community will be satisfied with its efficiency.
Technology stack used
The preferred technology stack of choice was the web 3 technology stack. The stack of choice is because it involves the following components; Programmable blockchains, nodes and node providers, APIs and API providers, development platforms, and decentralized applications, all of which are useful in creating an NFT marketplace.