Crypto News & ICO Reviews
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The blockchain revolution is here and ready to go open source more than ever. 0xcert is the first open protocol powered by non-fungible tokens, designed to expand the potential of blockchain technology beyond cryptocurrencies.
Blockchain and open source are complementary as they are both about decentralized ownership and high-level trust. In fact, it has even been said that blockchain is to trust, what the internet was to communication.
The benefits of running an open sources project are many; being open-source you have all developers in the world, open-source and blockchain are similar mindset – there is no government involved, it is based on freedom and fairness, the community is strong from the outset and an open source code can be seen by all, so it drives the developers to be the best and it listens best to the community and users, reacting the quickest.
0xcert is a European based team that has seen this opportunity and decided build a base layer which others can use to build their own applications – the best tools currently available are free and open source and they all come with bug bounties. 0xcert understands that this technology will change the way everyone views and uses the blockchain and in order to make this happen all needs to be open and free to use for the whole community.
Being an open source project actually raises the quality of the solutions put out there – they are always used, audited and changed according with the needs of those that apply them to their daily work. Asset-type standardization is a big part of what they are doing, which cannot be done if the code base is closed. There has to be a general consensus what is the best possible solution in a particular vertical – e.g. which metadata to use for academic credentials or for art or for identity.
Create, own, and validate unique assets on the blockchain.
The open source protocol from 0xcert is making developing solutions for Non Fungible tokens (NFTs) possible in just a few lines of code. NFTs are unique tokens so ownership can be stored on the blockchain, from anything to property, art, and IP to educational certificates from digital or real-world assets and adoption of this innovation has the potential to revolutionize the way we store, manage and verify assets such as house or real estate, artworks, academic credentials and ID documents. The protocol provides a foundation that enables developers to build on this technology. 0xcert provides a framework for developers, which can build dapps (decentralized apps). These dapps will in turn be able to digitally represent and verify ownership of assets such as land titles, artworks as well as collectibles.
All of these things make for the most open, transparent and future proof blockchain solution in development.
To provide a real-world example of this technology, imagine having all your academic certificates, land title, ID documents and artwork certificates online, each asset represented by a unique token. These are all stored in a ‘digital wallet’, which you control using a private digital key (akin to a password). If someone for example wanted to authenticate artwork or validate a degree, they could easily do that through a simple decentralized application. By enabling this verification process, 0xcert will help resolve numerous problems associated with proving provenance and authenticity.
William Entriken, the main author of the ERC721 standard for non-fungible tokens is a highly
active and a key 0xcert Advisor. William commented:“0xcert is working very focused on (ERC)721 so not only is there a commitment, and there is already a team around it, they are already releasing products that are usable for the community. And it’s not just your own products that are coming out, we have products that are open source, have test cases, and have bounties. You can’t have an open source project without bounties. It really shows a dedication to the community. So this really shows a dedication to the community and really helps the other
projects out there including projects that I am working on or other things I am advising, so if 0xcert is going to come out with these tools that everyone can use and they are backed by real money, support and bounties, how could I not recommend them?”
0xcert is starting a Public Pre-sale event on June 26th. The ICO aims to raise funds by selling tokens (called ZXC) to buyers and developers, which will be used for various utilities within the protocol ecosystem.