Coral
Coral has been instrumental in building out dev tools for the Solana blockchain ecosystem.
The startup created Anchor, which it says is the most popular smart contract developer framework for Solana. Anchor is similar to Ethereum’s Hardhat or Ruby on Rails in the Web 2.0 world.
xNFT
Executable NFT. X stands for eXecutable—tokenized code representing ownership rights over its execution.
Backpack
The Backpack wallet is like the iPhone’s iOS operating system, where a user can manage their private keys and access xNFTs, which are like the apps on the iPhone.
On top of Backpack, we can see the concept of xNFTs.
So it has not just these decentralized protocols, but also has decentralized applications or UIs, and it can give curated experience for xNFTs.
Coral also provides a developer tool called ReactxNFT, which could compare to Apple’s Swift and UIKit packages.
“We have the ability to build on this platform and take advantage of these APIs to build compelling user experiences on top of Backpack,” Ferrante, the founder of Coral said.
Ferrante hopes to develop Backpack into a “network in its own right” to help establish a concept of multichain identity for users in web3 through xNFTs.
“I could do things like play games with [xNFTs], I could do things like see if they’re online and connected and what they’re doing on the blockchain. I think building this as a primitive and exposing it to applications is going to be a really powerful feature. That’s going to be the unique thing that brings all this together to create a truly social experience that wrangles a lot of the problems that we see in web3 today,” Ferrante said.
Coral give members of the Discord priority access. More than 10 of the largest projects on Solana are already working on projects that leverage Backpack’s protocol.
Ferrante’s iPhone analogy seems particularly apt when one considers that as an ecosystem, Solana has chosen to invest in hardware. Solana Labs, the company that develops and improves the Solana protocol, launched a web3-focused smartphone called Saga earlier this summer. Ferrante said the Coral team is in close contact with the team behind Saga and that he eventually hopes to see xNFTs run as native apps on the smartphone.
Source: Backpack