Ownership and certification-relevant topics at any time. For decades, people have been looking for a mechanism that would allow to reliably and permanently fix the ownership of an asset for a particular person. Fortunately, blockchain technology has been created that allows to store information about owning anything in a safe and secure decentralized database. Today, there are already quite a lot of different platforms that use blockchains to store property rights.
The 0xcert project is also designed to accomplish this task, but it has one very important difference from the mass of other analogues.
The project 0xcert: features
If you look at modern blockchain projects, the vast majority of them use ERC-20 tokens in their implementation. In fact, these coins play an exclusively commercial role in them - they can be used as a means of payment or shares. This also applies to projects related to property rights and product certification- users simply settle up with the platform by tokens for their data to be entered into the blockchain.
The 0xcert Protocol uses a completely different type of token, which is called NFT (non-fungible-token). On the Ethereum blockchain, such tokens have the standardization of ERC-721. They were first used in the CryptoKitties application. The main feature of such tokens is that they are non-replaceable. That is, each coin is unique and can not be replaced by any other, as is possible when using the standard ERC-20.
NFT are quite young development, so they have some problems with using and implementing in existing business models. Protocol 0xcert created precisely in order to solve them.
0xcert allows you to make NF tokens more accessible and usable for users. It eliminates the following disadvantages:
- Slow development speed, which prevents the emergence of new products on the market.
- Low compatibility of NFT with other products and applications.
- Existing non-interchangeable tokens have a narrow focus and are isolated from other blockchains.
How will the 0xcert Protocol work?
0xcert is an open-source Protocol that will allow anyone to use it to implement NFT in their own business models and applications. For a better understanding of how the Protocol works, consider a small example. Let's say we have a product. We need to ensure verification of its authenticity, unique and owned by a particular owner.
To do this, we will use the Protocol 0xcert, releasing a smart contract, according to which each product will be assigned its NF-token with its own unique identifier.
After assigning digital tokens to the goods, the Protocol will allow checking the following characteristics:
- Is there really such an asset?
- Whether it is the specific certified asset?
- Who owns the ownership of this asset?
Thus, it is possible to create a database of any assets for which the uniqueness and originality of descent is important. These can be goods, precious stones, financial assets, etc.
Advantages of 0xcert
- The distributed registry, which is the basis of the 0xcert Protocol, will provide reliable storage of all loaded data.
- The Protocol uses special frameworks that will allow to develop smart contracts using Phyton, Javascript or Ruby, without the need to learn Solidity.
- For now, the 0xcert Protocol is built on Ethereum, but the developers promise that in future versions it will be updated and will be able to integrate into any other blockchain.
0xcert tokens
Zxc tokens will be used within the platform. They are built on the basis of Ethereum and meet the ERC-20 standard. They will be used for the payment of awards and in voting on the system of the DAO to control the operation of the system.
The prospects of the project 0xcert
0xcert is a unique project from a technical point of view, which will open a new format of non-interchangeable tokens for entrepreneurs and developers. This may give a new impetus to a whole list of industries, such as KYC, product identification, SOFTWARE licensing, certification, registration of collectible items, etc.
Because linking to the actual application sectors, the Protocol 0xcert has real prospects of development and growth. You can find information about the project on the official website - https://0xcert.org
More information & recommendations:
0xcert Website https://0xcert.org/
0xcert Twitter https://www.twitter.com/0xcert
0xcert Telegram https://t.me/zeroxcert
0xcert Bitcointalk https://bitcointalk.org/index.php?topic=4434967
0xcert WhitePaper https://0xcert.org/whitepaper.pdf
My Account BTT: https://bitcointalk.org/index.php?action=profile;u=138387
