ERC-1155 Officially Recognised by Ethereum & Why This is Important

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Another great day for Enjin Coin as Ethereum adopts the ERC-1155 Multi Token Standard. The hard work Enjin and the incredible community, devoted to developing the most innovative Token Standard will live forever on the Ethereum blockchain as it’s now permanently unchangeable and available to every Ethereum developer!

It was exactly one year ago when Enjin’s CTO Witek Radomski published the first version of the ERC-1155 and the development community welcomed it with open arms!

Set to become the default token standard, ERC-1155 is considered as the most innovative token standard that everyone can use to mint fungible (ERC-20) and non-fungible tokens (NFT) more efficient, powerful and standardized than those minted with its predecessors.

One of the benefits of using ERC-1155 in any app or game is that developers once integrate one ERC-1155 asset, it requires really little effort to integrate another one. This process is used across the Gaming Multiverse by Enjin Coin where some of the best blockchain games belong.

Here is an example that is likely to happen in the future. The Six Dragons (TSD) becomes a huge game and creates an in-game item (ERC-1155) of 1,000 pieces, Let’s call this “Azeroth”, a mighty sword. A new blockchain game comes out and it’s looking to attract players, by adopting the ERC-1155, they can link any in-game item, whether it is a sword or a skin, with the “Azeroth Token”. That way, the owners of “Azeroth” will now own different item of equal stats and rarity in that new game. The game can continue the implementation of other in-game items from different multiverse games. Here is an interesting list of Multiverse items.

How ERC-1155 Works?

ERC-1155 Artwork by The SandBox

Enjin gave a great example of the core idea behind the ERC-1155. A single smart contract should be able to produce and manage an infinite number of tokens simultaneously. In contrast to ERC-20 and ERC-721 that can only handle one token at a time, the ERC1155 is like the vending machine that you press a button and drops your desired snack. Imagine a world with one vending machine for each snack, seriously?

While this sounds incredible, it offers a viable solution to another major problem on the Ethereum blockchain, the fees. It does significantly reduces gas fees by allowing batch transfers and reduced the growing bloat of duplicate ERC-20 and ERC-721 code that will live forever on the Ethereum blockchain.

The future proof design ensures its widespread adoption as developers don’t have to worry about switching to another token standard in the future. Clearly, ERC-1155 is the number one standard for any kind of digital asset on the blockchain.

Enjin Wallet – The Home of ERC-1155 Assets

The ERC 20 Adapter

Designed to be backward-compatible with ERC-721, developers can add adapters to make ERC-1155 act like any ERC-20 or ERC-721 tokens. This possibility expands the horizons of the now most developed token standard as it can be accessed and managed by any Ethereum wallet, exchanges, dapps, etc.

The ERC-1155 standard has also been future-proofed to ensure it is the final token standard for digital assets on the Ethereum blockchain. The meticulous year-long standardization process undertaken by its authors and contributors has ensured that any developer who adopts ERC-1155 can do so without fear of having to shift to another token standard in the future.

Over 7,000 Developers

The amount of developers that are using Enjin’s Platform to implement ERC-1155 blockchain assets is massive if you consider that Enjin released the Blockchain SDK for Unity three months ago. The Blockchain SDK makes it easy for developers to integrate ERC-1155 blockchain assets into games, applications, and website without having to write a single-line of blockchain code!

The SDK is live on the Testnet and it will soon be available on the Mainnet of Ethereum blockchain where developers will be able to mint their assets with ease.

The all-in-one blockchain game development platform comprised of the Trusted Cloud, Platform API, Wallet Daemon, and Blockchain SDKs.

Bring your game on the Enjin Blockchain and get a headstart for the future of gaming! Click here to visit the Enjin Platform and start using Enjin’s robust suite of blockchain game development tools.

Enjin: The Leading Gaming Blockchain

Founded in 2009, The Enjin Network consits of more than 20 million users. After a succesfull ICO that raised $18.9 million, Enjin started developing a suite of blockchain products and services that are frequently described as innovative and never seen before.

Enjin makes it easy to create, manage, store and distribute blockchain assets for unlimited use cases.

Some of the well-known products of Enjin is their leading mobile cryptocurrency wallet, the Enjin Wallet, considered as one of the world’s safest mobile wallets adopted by Samsung. Inside the Enjin Wallet, users can find the Beam feature, a QR asset distribution service where it makes easy for games and applications to share an unlimited amount of blockchain assets backed by ENJ through a QR Code.

With a Java SDK, the Unity SDK, The Enjin Platform itself, the EnjinX Ethereum explorer and the incredible Multiverse movement, Enjin is clearly leading the way towards innovation, tokenization and mass adoption.

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