Enjin Creates, Launches ERC-1155 Ethereum Token For Gaming Blockchain Standard
An Ethereum token with properties specifically designed for video games has just been launched. It addresses major development issues with games designed to run on the blockchain.
The ERC-1155 token regular allows for the production of tokens, using a small twist. The items are stored in 1 contract, instead of previous criteria, where every token needed to specify a new contract for itself. The contract includes the minimal possible number of information needed for identifying the comprised token from other people.
These tokens could be swapped in only two steps since there's just 1 approval step rather than numerous measures for each. In addition, it can allow users to ship numerous things to one or several receivers on the blockchain in 1 trade, saving gas expenses and congestion.
The standard also allows for the production of fungible and non-fungible products. Fungibility is the land of a commodity wherein individual units of the stated commodity are synonymous. Video games comprise the two these kinds of resources, together with ammunition, health kits, and similar resources being fungible, and armor, weapons, and other things being non-fungible.
Notably, the ERC-1155 was announced by Witek Radomski, the CTO for the video gaming company Enjin. Mr. Radomski said that a video game running off the blockchain is limited because of the unsuitability of ERC-20 and 721 tokens, which effectively requires that each item has to have its own, slightly different, smart contract.
“The biggest problem with existing token designs is that they require deploying a separate contract to the blockchain for each and every item type! … It’s like being forced to buy a brand new computer for every single app you want to use.”
Founded in 2009 and stationed in Singapore, Enjin is a gaming company that boasts two core products: Enjin Coin and the Enjin Network. Enjin Coin is built for developing blockchain games and cryptocurrencies, while the latter is a gaming-focused content management system (CMS) and e-commerce platform that serves up to 20 million users.