0xcert Framework 1.5.0 is out with two important updates

0xcert Framework 1.5.0 is out with two important updates

The release of the 0xcert Framework for building powerful dapps on the blockchain was just the beginning. What comes after that, is a continuous work on its improvements and new features.

Today, we're announcing two important updates in the 0xcert Framework 1.5.0.

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1. Update proof via atomic swap feature

Imagine you have an asset in your wallet, an ERC-721 compliant non-fungible token. The token's metadata and relevant docs are stored on the blockchain and represent a digital or real-life physical asset you own.

Now imagine something happened to that asset - either your asset is a luxury handbag and its handle needs fixing, maybe it's a piece of artwork and got damaged, or it's an in-game real estate unit that just got a new section appended to it. Changes and accidents happen all the time, and no asset is truly safe from them.

Whatever happens to your one-of-a-kind precious, it no longer has the characteristics it did once it was created. But you still own it, and its new state still derives from its old one, so you shouldn't just create a new asset out of thin air and discard the previous one.

What you can do, though, is to update the asset proof.

Who can update an asset proof?

The update asset proof feature was actually available in the previous versions of the Framework, too, but it was ment for the issuer or the creator of the token.

Now, however, the update asset proof feature can be done in the way that:

  1. The issuer updates the proof of their own token (fee incurred), while the token manager sends the fee funds to the issuer and executes the update token proof.
  2. The issuer signs and confirms the update of their token in the orderGateway (no fee incurred), while the token manager executes the update token proof.

If you go and take your luxury handbag to an authorized repair shop and have its handle fixed by a licensed professional, they cannot perform the update asset proof of its digital imprint without the signature of the issuer. They can only generate a claim that the asset had indeed been repaired by them and that its digital imprint ought to be updated accordingly.

Once they generate such a claim adding the new data about the repair service, materials, and the latest state of the asset, it is only the issuer/creator of the asset who can sign and confirm the claim that gets to be executed by the manager of the token.

How does this affect the generation of an asset?

The process of update asset proof deploys new smart contracts along the way, in order to update the state of the asset proof.

However, the way of generating an asset remains intact, as it is only the order gateway that changes and adapts to the new state of the asset.

This also enables other functions to be incorporated into this feature, like payments via atomic operations, etc.

The update asset proof feature is especially useful as a method of on-chain management of assets, particularly material ones that are more prone to physical changes and environmental influences, but also of digital assets that interact with other digital entities.

2. Any Taker feature

Any takers? Based on the community feedback we had after the launch of the Framework, many will appreciate this update.

If you have worked with the 0xcert Framework and its atomic operations so far, you know that it was based on the principle "from A to B", or in Framework terms, an atomic order was generated between just one Maker and one Taker. The order was purely arbitrary, with fixed participants, traded items and values, and a set time of validity.

The 0xcert Framework 1.5.0, however, brings the feature of a marketplace to its users.

What does this mean? Well, instead of one Taker, there could be several or any Takers willing and able to make a trade with you.

Who does what?

The role of the Maker remains the same - to generate an order, determine what assets are to be traded, and what they want in return.

The role of the Taker, on the other hand, can be taken by anyone that fits the requirements of the order that the Maker set.

What does this mean for your dapp?

The power of the atomic operations that the 0xcert Framework provides is still there and doesn't go anywhere. If anything, it just got a whole lot stronger, since it works for any parties willing and able to participate in a trade, too, not just for one chosen Taker.

This means you can choose between two options for your atomic orders:

  1. You can either perform arbitrary orders with pre-set participants
  2. Bring the orders of your dapp to a marketplace level by allowing anyone to join an order as a Taker and benefit from the open market of assets.

This provides not only more democratic participation of dapp users but also speeds up the process, as the Maker does not need to spend time finding the right Taker to fulfill his order wishes and performing an arbitrary atomic trade.

0xcert Framework 1.5.0

The 0xcert Framework for building powerful dapps has been updated at the level of smart contracts that already support these two new features, along with its Documentation that is made to help the developers build their next dapp on the blockchain.

This latest addition was not executed as per the Roadmap in our Whitepaper - the Any Taker feature was indeed planned for the v2 of the Framework, but since our community was eager to use it sooner rather than later, we've developed and added it ahead of planning.

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We hope this new version of the 0xcert Framework will add to its usability and versatility.

Use the Framework and the features well, and if you get stuck in the development process or would just like to talk the issues through, our developers will be happy to chat with you in our Gitter channel.

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