Scaling a High-Volume NFT Marketplace: Use Chainnodes Optimized RPC Services for Rapid Minting and Transfers

The NFT surge we witnessed in 2021 doesn’t end there. Just like the adoption of cryptocurrency, NFT also created a massive wave through the decentralized finance space. By introducing a way to own artwork and collectibles digitally, NFT gained the attention of both artwork lovers and serial investors, leading to more traffic on marketplaces and, of course, on blockchain.

As different projects continue to incorporate NFT ownership into their structure for participation and earning, the need to ensure that NFT marketplaces rely on scalable infrastructure becomes even more apparent. For instance, during the launch of the Yuga Lab NFTs, many traders experienced transaction delay and failure due to congestion while successful transactions suffered greatly from MEV attacks leading to inflated prices for the assets.

Essentially, building an NFT marketplace like OpenSea requires more than just a blockchain selection process, you also need reliable and swift infrastructure to drive user’s interest and increase traffic.

RPC Nodes for NFT Transactions: How Chainnodes RPC Optimized NFT Minting and Transfer

Remote Procedure Call (RPC) nodes act as intermediaries between users and the blockchain, facilitating seamless smart contract interaction with blockchain, which is essential for NFT minting and transfer and enabling NFT metadata retrieval to reveal deals like digital asset features. Hence, NFT marketplaces stand to benefit both adoption and massive engagement by relying on reliable and industry-leading RPC service providers like Chainnodes.

Using Chainnodes RPC, marketplace can confidently handle massive transaction and load details efficiently without frustrating users relying on the nodes' ability to ensure the following:

  • Load balancing for high-volume NFT Minting

Given the storage requirement and size, NFT marketplaces need scalable infrastructure that make transaction completion possible within seconds. Chainnodes RPC offers a marketplace system of distributing traffic across multiple nodes. This ensures that NFT minting and transfer is completed seamlessly without the risk of a single point of failure. Additional infrastructure is implemented to ensure consistent uptime during NFTs drop and prevent system congestion.

  • MEV Protection

NFT marketplace can step up the game by offering users a chance to enjoy transacting privately using the Chainnodes dedicated nodes service. NFT transaction attracts MEVs given its high value, leading to transaction failure or price manipulation. However, Chainnodes dedicated nodes protect trades again MEV attacks by offering traders enhanced privacy in trading activities. For instance, one notable feature of the dedicated node is the ability to bypass the public mempools and send initiated transaction directly to the blockchain. This process ensures that trade details are not revealed to the public until is completed, therefore it can effectively prevent any MEV searching bot from detecting the transaction and manipulating ordering process to inflate price.

Read our previous article on MEV attacks and how to protect your trades here

  • Rate limiting and Auto-scaling

A sudden surge in transaction does not have to crash the entire structure you put in place, however, achieving stability and scalability requires more than relying on blockchain public nodes. However, running a self-host node requires high upfront financial commitment and enhanced technical knowledge, leaving the option of carefully selecting an optimal RPC service. Chainnodes RPC equip your ecosystem with rate limiting and auto-scaling features that ensure that you can meet up massive increases in transactions, prevent overloading and reduce transaction failures.

  • Data Optimization for Faster Retrieval

Like cryptocurrency trading, NFT traders also rely on swift data retrieval to make trading decisions. Hence, information like trading volume, price and ownership history are carefully considered before by anyone attempting to buy an NFT in a marketplace. However, a system relying on an inefficient data indexer cannot provide this result, which eventually truncates traders interest and reduces transaction volume on the marketplace. Chainnodes eliminate this hindrance by peering its RPC service with a data indexing tool known as The Graph. An efficient data indexing tool for swift retrieval of NFT and cryptocurrency data. With it, a NFT marketplace can store and sync NFTs data for users.

Conclusion

Building a trading ecosystem requires both scalable blockchain and efficient infrastructure, particularly blockchain nodes. While relying on public nodes can be a cheap option, facilitating transactions effectively is not possible on a system laden with constant downtime and transaction failure. This is why operating on scalable nodes at a cost-effective price cannot be overestimated. Chainnodes offer developers the best of both worlds- access to reliable and efficient infrastructure at low price. Get price for free on the Core package and upscale as require easily without