Magnet Pioneers as a Smart Contract Hub with Successful Deployment on Dancebox, Tanssi's TestNet
Tortola, BVI – September 29, 2023. Tanssi, the appchain infrastructure protocol, has announced its collaboration with Magnet, a smart contract platform based on coretime model. As one of the pioneering appchain deployments on Dancebox, Tanssi's recently announced TestNet, Magnet's successful launch of their ContainerChain emphasizes the efficiency and flexibility of Tanssi's protocol, designed for streamlined appchain deployment.
Through this collaboration, Magnet aims to establish itself as a central hub for smart contracts on Polkadot by using DOT as the native gas token, thereby integrating DOT (Polkadot's native token) more seamlessly within its ecosystem. Concurrently, Magnet's vision is to expand usage scenarios for DOT, drawing on the rich assets of the Polkadot ecosystem to benefit other innovative projects within Tanssi's framework.
Magnet's deployment on Dancebox showcases Tanssi's protocol in action. An appchain connecting to Tanssi becomes a ContainerChain, streamlining deployment while maintaining customization. Freed from the complexities of appchain deployment, Magnet can now focus on refining its code, elevating user experience, and nurturing its growing community.
Tanssi's ContainerChains utilize the Substrate framework, renowned for its adaptability and modular design that supports advanced customization. While Substrate is powerful, it can be complex for newcomers. With Tanssi's collaboration, Magnet accesses a development framework that simplifies Substrate's nuances, enabling them to concentrate on their core time interface and unique business logic.
“The Dancebox TestNet offers an intuitive and comprehensive deployment interface, streamlining the entire process for us. This not only simplifies our appchain customization but also promises a swift and efficient deployment process. With blockscout instance available post-launch for enhanced operational testing, Dancebox has truly elevated our development experience.” - Acai, Magnet Founder.
Moreover, Tanssi's ContainerChains boast pre-built templates with essential components for compatibility, facilitating smoother integration into the Substrate and Polkadot ecosystems. Whether using the templates directly or tailoring them, developers, especially those acquainted with the Ethereum Virtual Machine (EVM), will find EVM-compatible options at their disposal.
“We’re excited that Magnet is among the initial deployments on Dancebox. The team's passion for building a DOT-based smart contract platform is evident. It's encouraging to see how Tanssi addresses many of the infrastructure challenges that Magnet might have faced on its own. I’m looking forward to seeing what this team is capable of executing,” said Francisco Agosti, Tanssi co-founder.
By launching its own appchain, Magnet aims to diversify the application scenarios for DOT's smart contracts, placing DOT as a contender in the current smart contract landscape. Their approach also involves tapping into EVM's extensive user base, aiming to attract a broader audience and more applications to the Polkadot ecosystem. Transitioning to an appchain also allows Magnet to optimize costs, bypassing not only the intricacies of block production but also reducing complexities associated with onboarding and development tools.
Magnet's success as an early adopter in the Tanssi TestNet highlights the potential of ContainerChains. As Tanssi's innovations continue to unfold, a broader range of features and functionalities await developers and projects within the protocol. Discover this potential firsthand: explore Dancebox, Tanssi's TestNet, and launch your appchain in just a few clicks.
About the Tanssi Network
Tanssi's appchain infrastructure protocol is built to simplify and accelerate appchain deployment using ContainerChains. These ContainerChains create a developer-friendly and permissionless environment that provides infrastructure as a service. As a result, appchains can be deployed in just hours— a major leap from the typical months-long process. On top of this, Tanssi also benefits from the shared security and native interoperability of the Polkadot relaychain. Learn more at tanssi.network.
Magnet aims to enhance the usage scenarios of DOT by offering a scalable smart contract platform based on the coretime model, utilizing DOT as the gas fee. This approach covers long-tail users in the smart contract market, thereby increasing the demand for DOT. Learn more by visiting the Magnet website.