Blockchain Crypto

New ERC-1155 Standard Brings Ethereum Technology to the Gaming Industry

JP Buntinx | June 28, 2018 | 11:00 am
ERC721 gaming
Blockchain

New ERC-1155 Standard Brings Ethereum Technology to the Gaming Industry

JP Buntinx | June 28, 2018 | 11:00 am

A lot of things continue to happen behind the scenes of Ethereum. Another new token standard is about to be introduced in the coming weeks. Known as ERC-1155, this new standard is mainly designed for the video gaming industry.  Merging that industry with blockchain can lead to some intriguing developments down the line.

Tackling Gaming With Ethereum

There has been a visible increase in the world of blockchain assets. It is only a matter of time until more industries take notice of this technology as well. For video gamers, it seems blockchain-based assets can play a vital role of importance. The newly introduced ERC-721 token standard is one of the ways to reshape this growing industry as more time progresses.

It now seems another new standard is trying to make inroads in the gaming industry. Known as ERC-1155, it is designed to become an “evolved token”. Unlike previous models, the new token standard stores items in a single contract. Moreover, this is done in such a way it requires very little data to distinguish the tokens from others.

Furthermore, this token is proposed as a means of convenience. Exchanging these tokens can be done very easily and without big intermediary steps. Instead, everything is handled by the crypto items contract itself. It makes the process of swapping assets or having them change ownership a lot more straightforward moving forward.

Can ERC-1155 Succeed?

With a very strong focus on efficiency, it is evident ERC-1155 has a leg up over other standards. It appears to be a lot more straightforward. Gone are the days in which individual assets need to be swapped one at a time. This new standard allows for the instant transfer and conversion of any number of items through one process.

According to the accompanying blog post, up to 200 operations can be performed per transaction. That is quite a milestone in terms of scalability. More importantly, this system will work with both fungible and non-fungible items. That gives ERC-1155 a leg up over other standards as well. For video gaming enthusiasts, this solution is easily the most straightforward option

The big question is whether or not game developers will embrace this concept. After all, they need to incorporate this technology in order to make it more accessible. Bigger game titles may not necessarily see the merit of ERC-1155 right away. For the time being, the standard has been submitted to the Ethereum GitHub repository where it awaits feedback.

 

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