Skip to main content

Vara Capabilities

Vara mission​

Vara provides an environment for developers to build decentralized applications, at a new level in the Web3 industry. Anyone can build dApps and deploy them on the Vara Network without having to develop their own blockchain.

By bridging the gap between Web2 and Web3 for developers, Vara opens up opportunities for the next generation of decentralized applications, helping speed up adoption and spearheading the future of Web3 technologies. Built as a WebAssembly native blockchain, any developer has the ability to write and compile in traditional languages.

In addition, Vara Network offers low transaction costs, staking, participation in governance, validator, nominator and ambassador programs (as well as gas fee rebates in future).

Use cases​

Vara's strengths in providing scalability and security allow it to support next-gen Gaming and Financial-based applications. However Vara is capable of working with a vast number of different business and application use cases including tokenizing real world assets, supply chain management, and storing verifiable documentation such as academic results and digital identities. These next generation solutions require low latency execution and high level memory management, which Vara provides, enabling it to act as the fastest and most reliable on-ramp for the next iteration of applications.

Gear Team implemented a vast number of examples for various use cases that can be used for familiarization with writing programs on Gear Protocol or become the basis for your own dApp. They can be used as is or modified to suit your own scenarios.

More details are in Smart Contract Examples, the source code is available on GitHub.

On-chain gaming​

The gaming industry is the largest and fast growing entertainment business. It is larger than the movie and music industries combined.

During the gaming process, players create, buy or exchange digital gaming assets. Blockchain technology perfectly fits in to carry out in-game transactions and confirm the assets ownership and possession. It enables new game mechanics and economic models (like the play-to-earn). Smart contracts take advantage of blockchain technology's security and transparency guarantees to ensure protection of in-game assets represented by NFTs.

Game creators have realized the benefits of this technology and increasingly use it as one of the essential parts of their game architecture. Since transactions in Vara are very fast and cheap, it fits perfectly for highly loaded gaming applications with a huge number of transactions.

Financial-based applications​

Decentralized Finance (DeFi) is a blockchain-based alternative to the current financial system. DeFi applications let you borrow, save, invest, trade, exchange and do much more with your money than traditional financial systems allow. Whereas the current financial system is opaque, tightly controlled and outdated, DeFi empowers individuals by giving them personal control and visibility over their finances. This new financial market, which has fewer intermediaries, can potentially be very beneficial for its users.

Thanks to the Gear's architecture, scalability and technology features, transactions on a Gear Network are processed at an enormous speed and as a result, have an insignificant fee. It makes launching smart contracts on a Vara Network especially attractive for DeFi scenarios.

Other use cases​

DAO​

Decentralized Autonomous Organizations (DAOs) are organizations that operate without central authority or control and they are an effective and safe way to work with like-minded people around the globe. DAOs are usually flat and fully democratized instead of hierarchical. They also require members to vote on proposals or for any changes to be made. This is the difference from traditional organizations that usually have a sole decision maker. The concept of DAOs are extremely exciting for those involved in blockchain technology. It solves almost everything that's wrong with how modern day organizations are run.

NFTs and tokenized real world assets​

NFTs are ways in which we can represent anything as a unique digital asset. They're powered by smart contracts and they're enabling creators to have more power and control over their work than ever before. NFTs let us represent ownership and tokenize assets like art, collectibles, tickets and even real estate. They can only have one official owner at a time and they're secured by blockchain technology, which means that no one can modify the record of ownership or bring new 'original' NFTs into existence. Tokenization has a great potential to transform the landscape of traditional assets and financial markets. It will help create a global asset ecosystem where everything can be traded as easily as cryptocurrencies can.

Supply Chain Management​

Supply chain management traditionally suffered due to inefficient systems where documents would pass through multiple parties, increasing the risk of fraud and loss of data. However, smart contracts can nullify such risk by automating most supply chain processes. They reduce complexity by processing transactions automatically and verifiably in real time, which improves the efficiency and allows supply chains to become more agile. And they also provide a traceable history of transactions, which improves transparency and strengthens trust between all parties involved in a supply chain.

Other use cases​

Years ago, software development moved from monolithic to microservice architecture. Addressing complexities of previous approach related to tightly coupled, interconnected code. In recent years, nanoservices have become mainstream to address known microservice complexity.

Any general-purpose language nanoservice function compiled to Wasm can be uploaded as a program to Vara Network or a single node. Gear Node will execute the code to process a certain task within the necessary timeframe. Vara provides automatic seamless scalability according to the number of tasks necessary to process. You only pay for the resources your function consumes.