With the growth in the development of blockchain technology business, as well as ordinary people, opens up more and more new opportunities.
Linking an asset in the real world with a record in the blockchain is no longer just an idea, but a fully realizable task.
However, as the number of tokens and their issuers increases, the authenticity of the owner and publisher of the token becomes an emerging problem.
The recent case of ZenCash when attackers with a 51% attack on the network created a double waste of tokens worth half a million dollars - is an indicator of the need for the 0xcert project.
Decentralized verification of issuers in this case is an excellent solution. Through the mechanisms of clustering and economic stimulation of the community which decides to reject the issuer or not. This is just one of the applications of the 0xcert protocol.
It is easy and convenient to verify the ownership of a digital asset without exposing this asset to danger - another area of application of the 0xcert protocol.
How the protocol works
0xcert is an open source protocol on GitHub designed to create a special kind of tokens. As well as other tokens, they will be kept in your wallet.
The main difference is the 0xcert protocol provides another level of protection and security for your assets. In fact, an additional certified token is created which is assigned to the asset. They are called Xcerts. Their main value is that they have an asset print which is unique and impossible to substitute.
Through the 0xcert protocol we can prove the existence of the asset and confirm ownership of it, all without the participation of third parties. 0xcert as an on-chain and off-chain control panel Xcerts and other tokens.
The goal is to give developers of applications on the blockchain tools and methods to find agreements for managing irreplaceable tokens. 0xcert is a solution that can be connected for a variety of applications.
In practice this allows developers to concentrate on the initial task: the functionality of their application. And the 0xcert protocol will make this asset unique.
It can be: diplomas on higher education; identification of KYC; rights to real estate; intellectual property rights, and much more.
About the ZXC token
The infrastructure of the 0xcert protocol is built on a utility token - ZXC. The token complies with the ERC-20 standard from Ethereum. ZXC serves for applications built on the 0xcert protocol.
Initially, two main areas: this is a confirmation of the ownership of the asset and the legitimacy of the token issuer. However, with the subsequent development of the project, its opportunities can find significant application on a global scale.
To learn more about the details of this project, as well as to participate in the purchase of platform tokens, visit the official website https://0xcert.org/ and read the whitepaper: https://0xcert.org/whitepaper.pdf
In addition, you can find a lot of useful information in the Telegram (https://t.me/zeroxcert) and Twitter (https://twitter.com/0xcert) channels.
Author Cryptozond: https://bitcointalk.org/index.php?action=profile;u=1190894
ERC-20 wallet: 0xE09319CEB0C8cf2029e27F85E1Bcb1159c63aF8e