Blockchain

Blockchain technology is used to record the ownership of tokens and allow owners to transfer/sell/use them without restriction. IPFS is used to store the actual digital asset and ensure the asset cannot be changed without owner permission.

There are two different blockchain contracts integrated into MyRichFarm:

l ERC-20 for RCH

l ERC-721 for storage and transaction of digital assets

We provide a distributed Ledger which is hard to be tampered with, to ensure scarcity and allow players to possess and trade their assets. Besides, the mechanics of Play to Earn do not require the fully decentralized public blockchain.

Technology Integration

The reasons to use Binance Chain:

1. The blocking time is shorter than Ethereum.

2. It requires limited time to confirm the finality of transactions, around 1 min or shorter.

3. There is no inflation, the block reward is collected from gas fees, and gas will be paid in BNB.

4. It enables the system compatible with Ethereum as much as possible.

5. It equips modern staking-based network governance.

Interoperability

Since we use Binance Chain as the substrate of our ERC721 implementation, any platform/wallet that supports ERC-721 will be able to inspect and use our asset.

Meta Transactions

MyRichFarm aims to bring non-crypto users to the blockchain world. To achieve that we believe the system should be transparent to the user as much as possible.

Meta Transactions allow users that own RCH to interact with our platform without the need to own or know what ETH is or for that matter any of the tokens that will be used.