Hello guyz! Here is a new open source for non fungible tokens in blockchain technology, it entails the details and how the token is being stabilize.
What do we understand by Oxcert?
0xcert is an open source protocol that has value and stands high chance of transforming digital assests with reason. It translates one-of-a-kind digital or real-world assets into non-fungible tokens (NFTs). These are fungible tokens that are compliant with Ethereum’s ERC-20 standard.
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In other words, 0xcert is a framework with a set of on-chain and off-chain rules for managing Xcerts and other standard non-fungible tokens.
What is the mission of Oxcert?
Oxcert mission is to equip application developers with a secure blockchain agnostic platform, powerful tools and community embraced conventions for managing non-fungible tokens.
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The Advantages of Blockchain in Oxcert platform
Blockchain is a trusted platform due to its security and further use of decentralization to store data and assets, which will utilized to support dapps built on top of the 0xcert protocol with minimum possible fees.
Blockchain will enables a database to be directly shared without a central administrator. Rather than having some centralized application logic, blockchain transactions have their own proof of validity and authorization to enforce the constraints.
The Disadvantages
The disadvantage is the complexity of the technology. It’s a difficult system to create from scratch and there transactions and use cases are limited to blockchain platforms.
One small mis-step, and the entire system could be compromised.
In another words, they cannot be implemented in reality and should there be an issue on the blockchain, all the earnings there will be gone for good.
Lets look at Consensus mechanisms; In a distributed database such as a blockchain, effort must be expended in ensuring that nodes in the network reach consensus to avoid disaster that might involve significant back-and-forth communication and/or dealing with forks and their consequent rollbacks.
Redundancy; This isn’t about the performance of an individual node, but the total amount of computation that a blockchain requires.
Lack of regulation; This creates a risky environment that shows the consequence of the lack of regulatory oversight across the sector.
In my opinion, although these few issues could pose significant hurdles, it certain that blockchain technology will transform and magnetize the use of cases in Oxcert platform.
After all, technological advancement, much like nature, has been exceptionally fast in the 20th and 21st century. With electronic technology and machines being produced and improved all the time, it was very likely that along with the positive aspects of these new advancements, Oxcert platform will surpass and make a frame in blockchain technology.
Image showing the Visitation at World Blockchain Forum
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In Conclusion, 0xcert is a pluggable settlement with an advanced integration layer for different dapps and relay applications. This enables
developers to focus on the application layer and quickly build applications for issuing university certificates, KYC applications, applications for loyalty programs, warranties, badges, credits or even a decentralized non-fungible exchange.
Useful Links For More Information;
Website: https://0xcert.org
ANN Thread: https://bitcointalk.org/index.php?topic=4434967
Whitepaper : https://0xcert.org/whitepaper.pdf
Telegram :https://t.me/zeroxcert
Twitter: https://twitter.com/0xcert
Facebook : https://www.facebook.com/0xcert
Hi, humblemee, I think the protocol you're referring to is called 0xcert, that is, with a number "0" (zero) instead of the letter "o". Therefore, it is also pronounced “zero-x-cert".
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