Enjin’s ERC1155 token standard is adopted by Ethereum
Enjin’s EIP has been picked up by Ethereum
For the Enjin team, it’s been a crowded year since it first introduced the blockchain world to its token standard. Known as the ERC-1155 token, it provides players with a way of trading multiple assets simultaneously. While also providing digital assets within Enjin with an intrinsic base value, giving more flexibility to players and developers.
What a difference a year makes. Now, according to the Enjin team, the 1155 standard, which was proposed within an Ethereum Improvement Proposal (EIP1155) has now been accepted by the Ethereum core development team.
It makes a good deal of sense for the Ethereum team to take on the token standard. Considering the number of smart contracts needed for various assets, and the kind of costs in gas and time to move these same assets or currencies (ERC721/20).
Gas fees, in particular, present one of the more significant challenges for game developers. The fact is that each operation needs to be validated by over 25,000 nodes, taking up time and resources to do.
So, developers need to often make a choice between complex game mechanics, with high, often costly transactions.
Or more straightforward titles without the pressure of high volumes of traffic.
This is where Enjin comes in – with the 1155 token being broadly seen as a successor standard to these two classes.
So what does this mean for the standard overall? First and foremost, the passage of is as an EIP into Ethereum’s code means that ERC1155 can be used by the Ethereum development community as a whole.
Meaning that future games on Ethereum can readily apply 1155 and allow it to be interoperable with other assets from different games.
An EIP is a challenging thing to get approved, so congratulations to the Enjin team.
Join us at Blockchain Games Connects Hong Kong – 17-18 July 2019.