This article is about what is 0xcert (ZXC) crypto. The 0xcert Framework provides the open-source platform for building powerful decentralized applications (dapps) combined with non-fungible tokens (NFTs). It is a JavaScript library that reduces the time, resources, and issues of developing a dapp.
What is 0xcert (ZXC) Crypto?
0xcert, founded in 2017. is an open-source and permissionless protocol designed to validate the existence, authenticity, and ownership of digital assets on the blockchain. The protocol enables seamless interaction between multiple parties, leveraging the tamper-proof nature of the blockchain for trustless verification.
When an issuer, such as a university, company, or KYC provider, wants to issue a decentralized proof of a digital asset (e.g., certificate, badge, ID), they interact with the 0xcert protocol to generate a certificate imprint, which is then placed into the holder's wallet. Similarly, when someone wants to verify the authenticity of an imprint, they interact with the 0xcert protocol to confirm its legitimacy.
To speed up the adoption of blockchain technologies, 0xcert offers the 0xcert API, which provides the same versatile functionality as the 0xcert Framework but is easier to work with and requires less development expertise.
The 0xcert Framework is responsible for managing assets and values. Assets are represented as non-fungible tokens (NFTs) compliant with Ethereum's ERC-721 and ERC-2477 standards. They can represent unique digital or real-life items, with their metadata stored as a data imprint on the distributed ledger. On the other hand, values refer to fungible cryptocurrency tokens compliant with the ERC-20 standard, representing tokens that share the same value as any other of their kind, making them optimal for serving as monetary value tokens.
The 0xcert Framework utilizes decentralized and distributed systems for permanent storage, ensuring that assets and values are safely stored as immutable data, thus forming the data layer of trust. Moreover, the 0xcert Framework is designed to be interoperable, supporting multiple platforms for wider accessibility and adoption.
Exploring the 0xcert Ecosystem and ZXC Tokens
The 0xcert ecosystem consists of various open-source tools, including the widely used ERC721 specification and the 0xcert Framework, aimed at simplifying and streamlining the development of decentralized applications (dapps). Within this ecosystem, utility tokens are utilized for decentralized blockchain transactions.
ZXC tokens serve as utility tokens within the 0xcert Framework and are used to cover the operational costs of dapps built on this framework. They play a dual role as a unit of value for 0xcert services and as a bridge between blockchain technology and real-world applications. ZXC tokens can be exchanged for dapp tokens, which are the credits users spend to access products and services offered by individual dapps developed on the 0xcert platform. Each dapp has its own specific dapp token, which is used for its particular purposes.
The 0xcert ecosystem currently offers two main services that utilize ZXC and dapp tokens. The first is the 0xcert API, a decentralized gateway that enables 0xcert Framework functions to be accessed through a simple API service. In this service, only dapp tokens are required to perform blockchain transactions, eliminating the need for Ether (ETH).
The second product is Evidenspace, a platform developed by the 0xcert team for issuing and managing non-fungible tokens, credentials, contracts, agreements, and more.
The introduction of dapp tokens provides greater flexibility in updating products and services within the ecosystem, leading to a more dynamic infrastructure and enhanced user experiences. Using dapp tokens instead of ZXC tokens also simplifies the complexity of blockchain technology for end users, making the overall experience more user-friendly.
Bottom Line
In this article, we have discussed what is 0xcert (ZXC) crypto. The mission is to provide a blockchain-agnostic platform for building dapps. 0xcert aims to empower developers to create innovative and efficient decentralized applications that leverage the capabilities of NFTs and blockchain technology.
