0xcert (ZXC) Airdrop and Bounty

Create, own, and validate unique assets on the blockchain. 0xcert is the first open protocol built to support the future of digital assets, powered by the non-fungible tokens.

The vision of 0xcert is to provide an open protocol for non-fungible tokens to a wider  tech audience. With its help, we can drastically shorten development time, decrease  risk and cut costs associated with developing blockchain solutions.​ A wide range of decentralized applications (dapps) and business models can be supported, giving  companies the power to fully utilize the potential of blockchain technology.  Non-blockchain companies will be able to make use of a decentralized and distributed  ledger to easily incorporate the non-fungible technological features into their  applications while not requiring their development team to be proficient in low-level  blockchain programming.

Blockchain is moving faster than anyone dared to predict. With the 0xcert protocol, we  are opening the door for all in this important time in history, where everything you own,  not just financial assets, will now have a way to exist securely in your digital wallet.

Opportunity :  The most common tokens of today’s crypto economy follow the Ethereum’s ERC-20  specification. These tokens are used for a specifically defined utility within predefined  systems and thus carry value. Tokens that are issued by the same source are identical  and mutually interchangeable. This characteristic is called fungibility, hence these  tokens are called fungible tokens. Token holders can buy and sell these tokens on  exchanges, which is also the primary mechanism of their price valuation.

Recently, another form of tokens, called ​non-fungible tokens (NFTs​), started getting attention in the crypto community. Non-fungible digital assets represent the next stage  in the blockchain evolution. The first good use case for NFTs was introduced with  CryptoKitties. These were one of the first popular crypto-collectables: assets that were  unique and could be stored in your Ethereum wallet. You could buy, sell, trade and even  breed them. Later on the Ethereum implementation proposal 721 (EIP-721) got  introduced and confirmed got confirmed as an Ethereum standard (ERC-721) in March  2018.  NFTs have the potential to improve many applications and enhance existing business  models. For the first time, users are actually able to hold distinguishable tokens that  carry not only value, but also unique information in their blockchain wallet. Numerous  companies from different verticals are looking into this new technology as a solution for what was previously not possible on the blockchain.

Solution:  The 0xcert protocol utilizes the blockchain, a distributed ledger technology that was  first built to support the Bitcoin cryptocurrency. Blockchain can be best described as a  distributed ledger that maintains a list of records called blocks. Each block has a  timestamp and is built on top of an already existing block, preventing any data from  being altered retroactively.  Blockchain offers a unique way of solving the problem of secure online transactions  and double spending. Due to its transparency and distribution of information to many  decentralized blockchain nodes, it is nearly impossible to manipulate or duplicate  existing data records, making it potentially suitable for recording events, records,  identities, certificates, transactions and other documentation.  0xcert provides a framework with a set of on- and off-chain rules for managing  xcerts – standardized and certified non-fungible tokens. Our mission is to equip  application developers with a secure blockchain settlement, powerful tools, and  community embraced conventions for managing the NFTs.  Key characteristics of the 0xcert protocol can be outlined in four larger dimensions:

 1. Pluggable settlement for faster development: The 0xcert protocol is a solid pluggable settlement which supports numerous  business models. It clears away the low-level blockchain complexity thanks to its  solid and flexible infrastructure that ensures interoperability between dapps by  default.  Using a plug-and-play framework shortens the development time from months to days. ​Readily available APIs and SDKs in Python, Ruby, NodeJS and Javascript will allow traditional developers to start building blockchain  applications right away.

 2. Conventions for data interoperability and standardisation: The 0xcert protocol provides conventions for minting certified non-fungible  tokens for unique assets. ​With the use of the protocol, proof of an asset can be written into the token directly. These proofs are built following  industry-specific conventions and enable data interoperability among various  applications.   With the help of the community, we are structurally establishing a minimum  standard that prevents data-siloing and poor user experience with future  implementations.

 3. Decentralized verification registry through curated registries: An important piece of the proposed protocol will be authenticating and assuring  the validity of issuers building with the 0xcert protocol. Each NFT issued requires a deployed main (token) contract and a mechanism that will attest the  validity and the issuers identity.   We are proposing a token curated registry to pursue a decentralized approach  in validating the issuers of NFTs​. Ultimately, a new issuer would stake a portion of tokens to get listed, while the existing holders will have the ability to approve  or challenge the listing.

 4. Open source and blockchain agnostic: 0xcert is an open-source and community driven project. Its first implementation  is built on Ethereum. However, due to the blockchain-agnostic nature of the  protocol, expansion to other blockchains will follow.   The protocol may also include a decentralized governance (DAO) mechanism to  allow the community to vote for further improvements. Because the project is  open-source, the community will also be able to rely on industry experts for  specific conventions in particular verticals. This in turn may positively impact  growth of new business models built on top of the protocol.