Fireblocks is a digital assets custody platform that announced the debut of its new Web3 Engine. The purpose of the Web3 engine launch is to assist and nurture the emergence of the Web3 ecosystem.
Micro, Macro, and commercial businesses may use the Fireblocks platform to acquire and administer crypto assets like cryptocurrencies and NFTs, which can be used to represent digital art, gaming goods, and financial instruments. It allows consumers to preserve their assets while also constructing business models or marketing strategies around them.
On Tuesday (17-05-2022), the biz stated that the specialized Web3 engine now offers a set of tools for developers to construct DeFi, GameFi, and NFT goods and services (NFTs). To be precise, we can say Fireblocks facilitates the enthusiasts and backers in the web3 ecosystem by opening a world of decentralized applications (DApps), exchanges, the Non-fungible token(NFT) markets, and more.
“We’ve already entered a new age of the internet, the Web3,” said Michael Shaulov, CEO of Fireblocks. “The community has been entrusted with fixing a very vital problem: security,” says the author.
The cornerstone for Web3, often known as the “decentralized web,” is blockchain technology and decentralized applications. Financial transactions, token exchange, entertainment, asset management, and more may all be done utilizing peer-to-peer technology without the use of middlemen, thanks to this advancement.
Devs will be able to build decentralized applications on top of Fireblocks’ new Web3 Engine. This is significant because Web3 apps are growing in tandem with cryptocurrency ecosystems worth millions or billions of dollars, which become a clear target for cybercriminals.
By allowing some of the leading web3 clients in the marketplace to build atop Fireblocks’ tech stack, they are protected from potential human error, malfunctioning code, and web hackers.
“Unlocking access to Web3 was a critical move as we already provide a safe and secure platform and a suite of dev tools for biz to establish digital assets and cryptocurrency businesses,” Shaulov added. “With a completely customized Web3 connection experience, we want to hasten the debut of a new wave of super applications.” Devs may also use Fireblocks’ proprietary feature, the WalletConnect, which is the company’s secure crypto asset engine for crypto transactions.
30+ blockchain networks and platforms were supported by the engine. It also gives its users access to over 35 protocols, over 1,100 tokens, and every ERC20 token, such as the Basic Attention Token.