A Simplied Review Of The Revolutionary Oxcert Protocol And Non-Fung...

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INTRODUCTION

There is no doubt in recent times about the disruptive nature of the blockchain technology both in the financial sector and other sectors of life endeavours. Having completely revolutionized the financial sector via cryptocurrencies, the blockchain have gone ahead to change the way people transact in other fields. With its unique features of data immutability, decentralization, cost effectiveness, super-speed, among others, it is gradually taking over the internet and person to person, person to business and business to business mode of transactions.

Up until 2nd quarter of 2017, the blockchain uses what is known as fungible tokens which are tokens that are interchangeable and have the same features as long as they're of the same type. This can be seen in the cryptocurrencies in use now like bitcoin, OMG, TRX and others. They're mostly issued on the Ethereum network and tagged as ERC20 tokens.

Currently, there is a shift or an improvement on the existing blockchain-fungible tokens relationship that is aimed at providing a different, non-fungible token set. This nascent tokens have unique properties that make them indivisible and non-interchangeable. These properties make the non-fungible tokens well suited for proper storage of personal data, certificates, collectibles, and digital assets on the blockchain.

THE OXCERT PROTOCOL AND NON-FUNGIBLE TOKEN

The Oxcert Protocol is a platform pioneering and dedicated to the development and integration of both digital assets and physical assets into the blockchain through the non-fungible tokens, NFTs. These assets are tokenized using the Oxcert convention into NFTs and stored on the blockchain for safety, immutability and trust. The Oxcert Protocol is the pioneer permissionless open source protocol that is enabling developers to painlessly develop DApps with minimum stress and costs.

Oxcert Protocol also aims to standardize and certify non-fungible tokens and make them available to more technical audience through its framework of off-chain and on-chain rules, conventions and libraries designed to store digital certificates on the blockchain.

OXCERT PROTOCOL AND DEVELOPERS

On a normal day, developing blockchain-based solutions is usually fraught with several high risks challenges, time consuming and quite capital intensive. These challenges means that less developers are interested in designing blockchain based solutions, therefore making the complete adoption of the blockchain technology more tenuous.
With the Oxcert platform, these challenges are greatly mitigated such that more DApps can be built with less financial involvement, risk and time.

WHO CAN USE THE OXCERT PROTOCOL?

Oxcert protocol is designed to support a wide range of business models and decentralized applications. This way, companies regardless of whether they're blockchain based or not, can fully enjoy the numerous benefits of the blockchain technology by easily incorporating the nascent non-fungible tokens technology into their applications without needing their in-house developers to be well-versed in basic blockchain programming.

Assets tokenized on the Oxcert protocol by building them into non-fungible tokens using Oxcert conventions are known as Xcerts; these Xcerts hold the unique imprints of each asset it represents.

The Oxcert protocol further aids in validation of ownership, authenticity and proof of existence of the assets directly, thereby cutting out any third party involvement.

THE ZXC TOKEN - STRUCTURE AND USE

The ZXC is the native token of the Oxcert platform and its an ERC20 compatible token that is introduced to link issuing parties with the community and DApps on the platform. The ZXC will be used for several transactions on the extended Oxcert ecosystem among which will be its utility as a basic liquid asset used by DApps created on the platform to perform, likened to the function of gas on the Ethereum network.

TOKEN SALE

The token sale commenced and was highly successful, which is a positive indication of the viability of the revolutionary Oxcert protocol and the need it seeks to fill.