What is The Root Network? All You Need to Know About ROOT

IntermediateMay 08, 2024
The Root Network (ROOT) enhances the metaverse with UX-focused protocols for seamless interoperability and user safety.
What is The Root Network? All You Need to Know About ROOT

The Root Network (ROOT) enhances the metaverse with UX-focused protocols for seamless interoperability and user safety.

As the metaverse expands, blockchain technology and artificial intelligence are becoming essential in creating interconnected, immersive experiences. These technologies ensure secure transactions and intelligent, adaptive interactions within digital worlds, enhancing user engagement and asset interoperability. They also offer robust frameworks for privacy and data integrity, which are crucial for user trust and safety in virtual environments. Amidst this technological evolution, The Root Network emerges as a key player, developing tailored protocols to refine the user experience further and support the dynamic needs of the open metaverse.

What is The Root Network (ROOT)?

The Root Network, an important development in the metaverse industry, is backed by the global media tech powerhouse Futureverse, established in 2022. Headquartered in Auckland, New Zealand, and with offices worldwide, Futureverse was formed by consolidating 11 technology and content companies. This ambitious initiative was led by founders Aaron McDonald, Shara Senderoff, Marco Brondani, and Daniel Gillespie, who aimed to lay down the fundamental building blocks for the open metaverse.

Futureverse’s approach blends its deep expertise in web3 technologies, artificial intelligence, and entertainment with valuable intellectual property sourced from globally recognized brands. This rich foundation fuels The Root Network, facilitating the development of applications designed to operate within this burgeoning digital ecosystem.

In July 2023, The Root Network marked a significant milestone by raising $54 million in a Series A funding round. This capital infusion has helped forge substantial partnerships with major entities such as FIFA, NVIDIA, and Spotify, enhancing the network’s capabilities and reach. These collaborations aim to push the boundaries of what can be achieved within the open metaverse, utilizing The Root Network’s innovative blockchain and AI-driven solutions to deliver a seamless and safe user experience across diverse virtual environments.

The Root Network focuses on enhancing web3 user onboarding, addressing the initial lack of user-friendliness and safety compared to web2. Once onboarded, users enjoy greater privacy and flexibility in managing assets and data in web3 environments.

How Does The Root Network Work? Integrated EVM and Assets Exchange

The Root Network enhances the utility and flexibility of its blockchain infrastructure by integrating the Ethereum Virtual Machine (EVM), providing a foundational layer designed for seamless user experience and advanced interoperability in the open metaverse. This integration allows developers to bring existing Ethereum-based applications and smart contracts directly onto The Root Network without reconfiguring, ensuring a broad compatibility that bridges various blockchain networks.

EVM compatibility on The Root Network enables using Solidity, the primary programming language for Ethereum, facilitating the easy transition of decentralized applications (dApps) and enhancing the developer experience. This is critical as it allows The Root Network to tap into the extensive library of Ethereum’s smart contracts and decentralized applications, making it a formidable platform for developers leveraging existing blockchain solutions.

Furthermore, The Root Network’s EVM integration is part of a broader strategy to create a deeply interconnected digital ecosystem. By supporting the execution of Solidity smart contracts, The Root Network can host various applications ranging from complex financial instruments to immersive metaverse experiences, all while maintaining high security and performance standards. This capability is underpinned by a proof-of-stake consensus mechanism, which not only optimizes energy efficiency but also enhances the scalability and speed of transactions on the network.

Beyond mere application support, The Root Network’s EVM implementation fosters interoperability across blockchain environments. It facilitates bi-directional communication between The Root Network and other major blockchains like XRPL and Ethereum, further extending the reach and functionality of its native applications. This cross-chain operability is crucial for developers aiming to reach wider audiences and integrate varied digital assets and content seamlessly.

Additionally, the integrated EVM provides the infrastructure necessary for developers to create and deploy their smart contracts on The Root Network. This opens up possibilities for innovation in application development, allowing creators to tailor their projects to specific needs and market demands within the metaverse. The Root Network enhances this capability with custom runtimes for assets, ensuring that applications on the network can manage identity, assets, and transactions with unprecedented efficiency and security.

In conclusion, integrating the Ethereum Virtual Machine into The Root Network’s architecture is a strategic move that significantly broadens its utility and appeal. By allowing seamless migration of existing Ethereum-based projects and facilitating new creations, The Root Network sets itself up as a versatile and developer-friendly platform. Delving deeper into the assets exchange capabilities in the next section, it becomes apparent how this foundational technology supports and amplifies the potential for a truly open and interoperable metaverse.

Source: therootnetwork.com

Assets Exchange

The Root Network significantly simplifies the trading and management of digital assets through its innovative Assets Exchange framework, incorporating both NFT runtime and an in-chain decentralized exchange (DEX). This integration is designed to enhance user and developer interaction with digital collectibles and tokens across various applications within the open metaverse, streamlining the creation and exchange process without the need for complex smart contract development.

The NFT Runtime feature on The Root Network allows creators to effortlessly craft and distribute digital collectibles that can be utilized across numerous metaverse environments. This functionality eliminates individual developers’ need to construct their smart contracts, thereby lowering barriers to entry and encouraging creative expression within the digital ecosystem. Additionally, the in-chain exchange mechanism supports the formation of liquidity pools and facilitates token price discovery directly on the network, bypassing traditional coding requirements. This system simplifies transactions and ensures that assets can be traded or monetized efficiently.

Moreover, the built-in digital collectibles protocol within The Root Network enables the creation and trading of NFTs easily, supporting network-enforced royalties that incentivize and reward creators. This protocol is fully integrated with industry standards like ERC-20 and ERC-721, ensuring compatibility and interoperability with a wide range of existing and future metaverse applications.

The decentralized nature of The Root Network’s exchange not only democratizes access to asset trading but also enhances liquidity across the network by allowing users to engage directly without intermediaries. Exchange fees generated through these transactions are collected by node validators, which reinforces the decentralized governance structure of the network.

In conclusion, The Root Network’s Assets Exchange architecture fosters an open, interoperable, and user-friendly metaverse ecosystem. By removing the technical complexities traditionally associated with asset management on blockchain networks, The Root Network empowers users to focus on innovation and value creation, setting the stage for the next evolution of the digital economy.

Source: therootnetwork.com

The Root Network Use Cases

The Root Network leverages blockchain technology to enhance digital interactions in the metaverse, focusing on user experience and asset management. Its infrastructure is designed to support a wide range of applications, ensuring seamless and secure operations.

  • Digital Identity Creation: Users can establish verifiable digital identities for themselves and their assets, facilitating trust and interaction in virtual environments. This fosters a secure ecosystem where users can confidently participate, enhancing user engagement across platforms.
  • Decentralized Finance (DeFi) Applications: The network supports the development of various DeFi services, enabling users to borrow, lend, or trade assets without traditional intermediaries. This opens financial opportunities and promotes financial inclusion in the digital economy, making complex financial transactions more accessible.
  • Gaming and Virtual Realities: Provides a platform for developers to create immersive gaming experiences and virtual realities, where players can truly own and trade in-game assets. This empowers players with real ownership and the potential for economic gain within game worlds.

The Root Network’s applications demonstrate its versatility and potential to transform how we interact with digital content. They foster a user-centric approach to the new digital age, with real-world benefits and innovations that enhance the metaverse experience.

What is the ROOT Coin?

ROOT is the digital currency used within The Root Network for transactions and governance. Its maximum supply is capped at 12 billion units, of which 1.038 million (8.65%) are already in circulation (April 2024).

The ROOT Coin is the native token of The Root Network, functioning as a crucial element for transactions, governance, and network security within its ecosystem. It operates under a Proof of Stake (PoS) model, where node validators and delegators secure the network by staking ROOT tokens. This mechanism enhances network integrity and incentivizes participation through transaction fee rewards.

Predominantly, ROOT is employed for governance, enabling token holders to vote on network upgrades and protocol amendments, ensuring a decentralized and user-driven network evolution. The token economics are designed to foster a sustainable ecosystem with a finite supply, distributing rewards through various means such as transaction fees and staking incentives.

Use cases of ROOT extend beyond mere transactional purposes; it underpins various functionalities within The Root Network’s expansive ecosystem. This includes paying for services, accessing premium features, and participating in governance decisions that shape the network’s future. Additionally, ROOT tokens are staked by validators who contribute to the network’s security and efficiency, earning rewards in the process.

ROOT’s utility is vital for maintaining the operability and scalability of The Root Network, providing a stable and secure platform for users to engage with digital assets across the open metaverse. Its integration into network operations ensures that ROOT holders are directly involved in the growth and governance of the platform, aligning their interests with the network’s long-term success.

Source: therootnetwork.com

The ROOT token’s distribution is strategically designed to ensure long-term viability and community engagement within The Root Network. Here’s how the tokens are allocated:

  • Community Rewards: 20% of the total supply is designated for community engagement through activities and participation, which are tracked by the FutureScore system.
  • Land Mechanics: 20% is allocated to interactive in-game mechanics within The Root Network’s virtual environment, encouraging user participation and ecosystem growth.
  • Ecosystem Development Fund: 10% of the tokens are reserved for fostering new development on the network, supporting artists, developers, and IP holders.
  • Block Reward Bootstrap: 10% is distributed to validators and stakers over the initial 260 weeks to incentivize network security and stability.
  • CENNZ Burn to Mine: 10% is available for CENNZ token holders, who can burn their tokens to receive ROOT tokens, facilitating a unique cross-token integration.
  • Futureverse: 15% is held by Futureverse, the core developer, ensuring they have the resources to continue enhancing the network.
  • Liquidity Providers: 5% is set aside for liquidity providers facilitating trading and liquidity on the network’s decentralized exchange.
  • DAO Treasury: Another 5% is controlled by the DAO, supporting governance and additional network activities as decided by community governance.
  • Advisors: 5% is allocated to advisors who bring significant expertise and resources to the network, locked and then vested over a set period to align their interests with the network’s long-term success.

This structured distribution balances immediate operational needs with long-term strategic growth, ensuring The Root Network develops into a robust and decentralized platform.

Source: docs.therootnetwork.com

Any-token Gas

The Root Network introduces an innovative multi-token economy featuring a unique, any-token gas system. This system allows users to pay gas fees with any approved token, including XRP, ROOT, ASTO, and SYLO, enhancing accessibility and user experience. By separating the network’s governance and security token (ROOT) from its gas token (XRP), The Root Network ensures a stable and efficient economic environment. This flexibility allows users to engage with the network without needing to understand complex tokenomics or manage multiple token types, streamlining the onboarding process and reducing barriers to entry. Additionally, this system allows developers to cover gas fees for their users, further simplifying interactions and fostering a more inclusive environment within the digital ecosystem.

The Root Network Main Features

The Root Network integrates several core features to create a more cohesive and efficient web3 environment. These features are designed to enhance user interaction and broaden the range of applications within the network.

Asset Register

The Root Network’s Asset Register provides tools for defining and managing digital assets to ensure compatibility across various applications within the open metaverse. This system supports complex asset relationships and enhances interoperability, making it easier for developers to create rich and immersive applications. The Asset Register is built on a layer similar to a layer 2 distributed ledger technology (DLT), tailored for managing asset relationships rather than just asset ownership, promoting a deeper level of integration across different platforms.

Source: therootnetwork.com

NFT Runtime Module

Unlike traditional platforms where NFTs are confined to specific contracts, The Root Network incorporates NFTs directly within its core network runtime. This integration facilitates a unified approach to NFT management across the entire network, enhancing interoperability and simplifying transactions. The NFT runtime supports network-wide royalty enforcement, native multi-wallet, and tiered royalties and allows developers to build NFT applications without deploying separate smart contracts.

Liquidity and Collectibles Bridges

To further its vision of an open metaverse, The Root Network includes built-in bridges for transferring assets between itself and other major blockchain networks like Ethereum and the XRP Ledger. These bridges enable secure, seamless transfers, increasing asset liquidity and utility across different blockchain ecosystems. By linking these diverse systems, The Root Network facilitates a more interconnected and functional metaverse.

Source: therootnetwork.com

These features underscore The Root Network’s commitment to providing a versatile and user-friendly platform that supports the evolving needs of the digital and metaverse communities. As the network grows, these foundational elements will play a crucial role in shaping the landscape of digital interaction and asset management in web3.

Is ROOT a Good Investment?

The Root Network focuses on improving web 3.0 usability and interconnectivity, which is essential for broader blockchain adoption. It simplifies user interactions and enhances connections across blockchain platforms, aiming to facilitate a more accessible digital ecosystem. However, The Root Network is not unique in these endeavors, as many projects tackle similar web 3.0 challenges, creating a competitive environment. Potential investors should carefully consider the landscape and The Root Network’s position to assess its distinctiveness and potential for long-term success in an already crowded field.

How to Own ROOT?

To own ROOT, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then,, you are ready to go through the steps to buy ROOT.

News on The Root Network

According to what was announced on the official Twitter channel of The Root Network, dated April 9, 2024, Galxe has integrated with The Root Network to enhance connectivity within the Open Metaverse. This collaboration leverages The Root Network’s robust infrastructure to improve user experiences and expand digital interactions. Users can now enjoy seamless access to web3 services, underscoring a shared commitment to fostering a user-centric and interconnected digital future. This partnership marks a significant step in advancing blockchain ecosystems and enriching the web3 user journey.

Take Action on ROOT

Check out ROOT price today, and start trading your favorite currency pairs.

Author: Mauro
Translator: Paine
Reviewer(s): Edward、Piccolo、Ashley
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.io.
* This article may not be reproduced, transmitted or copied without referencing Gate.io. Contravention is an infringement of Copyright Act and may be subject to legal action.
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