What Is 0xcert?
0xcert is an open source and permission less protocol available for the non-fungible tokens referred to as Xcerts on blockchain. The open protocol permits for the shortening of development time, risk reduction and lower costs when building blockchain solutions. The storage of the tokens is in cryptographic wallets under the ownership of the users. The 0xcert protocol allows for validation of proof of existence, ownership and authenticity of digital assets without involving third parties.
0xcert is a framework that contains a set of onchain and offchain conditions for the management of Xcerts. The protocol aims at providing the developers of application with a secure blockchain supported platform, powerful tools and conventions for the management if non-fungible tokens that are embraced by the community.
How 0xcert Blockchain Asset Certification & Verification Works
The platform contains an advanced layer of integration for different relay applications and decentralized applications thus enabling developers to aim their focus on the application layer and build applications quickly. Examples include the issuance of university certificates, warranties, badges, credits, KYC applications, and applications used for loyalty programs.
The 0xcert protocol is described as a pluggable settlement that supports a variety of business models. It is flexible and solid infrastructure makes sure that interoperability is achieved between dapps. The use of plug-and-play framework makes the development time to be shorter.
The protocol provides conventions to be used for minting of certified non-fungible tokens for assets that are unique. Through the protocol, proof of an asset is directly written to the token. The proofs are built in accordance with conventions that are specific to the industry thus enabling the interoperability of data between a variety of applications.
The protocol provides a decentralized verification registry for the authentication and confirmation of the validity of the issuers that are building on the protocol. Every non-fungible token that is issued needs a main token or contract and a proof of the validity of the issuers of the token. Xcerts is a representation of standard non-fungible tokens that holds an asset's imprint.
0xcert ZXC Token & ICO Details
The protocol also uses fungible tokens known as ZXC as utility tokens in the system and comply with the ERC20 standard on the Ethereum blockchain. The tokens are used to support decentralized applications that are built on top of the protocol. The role of the token is to be a mechanism used as incentive and to support the entire ecosystem.
Parameters Of The ICO
- Token symbol: ZXC
- Token sale date: July 4 – July 18, 2018
- Accepted payment method: ETH
- Total token supply: 500,000,000
- ICO token supply: 55,000,000
The flexible nature of the 0xcert protocol infrastructure ensures that interoperability is achieved among decentralized applications. The protocol is flexible enough to support a variety of business models.
High Development Speed
The availability of the protocol's pluggable framework allows for the reduction of the time used during the building of decentralized applications.
Verification Of Issuers
The protocol contains a registry of issuers that have been verified on the network, which allows for the authentication of issuers as well as knowing their validity. A common registry reduces the time taken for verification and reduces business risk.