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Ferrum Network is an interoperable Layer 1 (L1) network designed to facilitate seamless communication and connection between various blockchain platforms. It is powered by a multichain messaging engine that enables developers to deploy multichain decentralised applications (DApps) and allows users to experience a fully interoperable Web 3.0 environment.
Ferrum Network operates through its Omnilayer mainnet, leveraging Polkadot Substrate for its consensus infrastructure. It uses a core technology called the Quantum Portal, an atomic messaging engine that maintains the state of value and information across blockchains. This allows for "build once, deploy everywhere" functionality. Ferrum also implements Value Constrained Multi Chain Rollups, which enable its blockchains to act as Layer 2 solutions for various chains.
Ferrum Network supports numerous use cases, including interoperable metaverses where in-game assets can be exchanged across chains, multichain token staking where users stake on one chain and receive rewards on another, and deployment of tokens and NFTs that operate seamlessly across multiple chains. Additionally, it offers multichain lending and borrowing, where users can stake collateral on a secure chain and extract loans from others.
Founded in 2018 by Naiem Yeganeh and Ian Friend, Ferrum Network aimed to address challenges like slow transaction speeds and difficulties in cross-chain transactions. Its significant milestones include pioneering Interoperability 2.0 with the Quantum Portal, launching the Omnilayer mainnet using Polkadot Substrate, and developing Value Constrained Multi Chain Rollups. Key innovations also include the Kudi Exchange and Sub-Zero Wallet, which facilitate digital asset transactions and storage without custodial interference.