Ethereum (ETH): Blockchain to become more game friendly with ERC-1155 token standard
Ethereum might become gaming friendly platform with the new token standard created by Enjin coin Co-founder Witek Radomski.
For those aren’t aware, Enjin is a service, allowing users to build video games on the blockchain. The coin, which goes by the name of ENJ has a value of $0.05 and ranks 163 on CoinMarketCap. Radomski, who is also the Chief Technical Officer [CTO] of Enjin created the first non-fungible Ethereum token, ERC-721 in 2017 and it was released to the public after August, that year. Soon ERC-721 became widely popular as the standard for blockchain gaming and digital art. However, it had its own limitations.
According to Ethereum World News,” Radomski said, “The non-fungible tokens being used today have defined a new class of user-owned virtual items. However, there are many problems with the existing token model. It is very expensive and inefficient to deploy large databases of items that mainstream game developers use.
Radomski further added, “Our new ERC-1155 Crypto Items standard allows for infinite numbers of fungible and non-fungible items in a single deployed contract. We needed it to be lightweight and easy for the network to handle. If this does take off, the gaming industry alone will require tens of millions of new items–but the application of this standard is by no means limited to the games market. ERC-1155 tokens could be used to certify all forms of ownership, tangible or digital.”
The ERC-1155 token standard allows tokens creation with a little twist. Unlike the previous standard, the items are stored in one contract and each token need to define a new contract for itself. The new standard also allows easy atomic swaps between tokens. According to previous standards, a swap between two tokens required 4 steps. However, new Ethereum tokens can be swapped in just 2 steps because there’s only one approval step. It also allows users to send a number of items to one or a number of recipients on the blockchain in one transaction. In a way, saving gas costs and congestion. The standard also allows the creation of fungible and non-fungible items.
To make tokens one need not be an experienced token developer through the Enjin program. Anyone can make tokens with ERC-1155 since the smart contract is simply a store of data and behaviours, which features a GUI to launch and create tokens.
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