0x has announced that its peer-to-peer exchange protocol will soon include support for the ERC-1155 token standard – also known as the multi-token standard – after the community voted on and accepted two new improvement proposals (ZEIPs).
The announcement was made on 0x’s Twitter page. The post states: “We are thrilled to announce that ZEIP-24 and ZEIP-39 have been approved by our community of ZRX token holders! Both of the ZEIPs will be implemented on the mainnet on August 5.”
The 0x community finished voting on whether to approve ZEIP-24 and ZEIP-39 on July 29, with both being approved.
The approval of ZEIP-24 means that the ERC-1155 asset proxy will be introduced to the 0x mainnet. This will bring support for the trading of ERC-1155 assets on the 0x protocol.
The multi-token standard is an evolution in token standards because it offers the ability to issue mixed fungible and non-fungible tokens within a single smart contract.
Previously, in standards such as ERC-20 and ERC-721, it was only possible to issue non-fungible tokens. Another benefit of using the ERC-1155 standard is that it enables greater efficiency in the transfer and creation of new token concepts.
ZEIP-39 introduces the ability to create conditional orders based on arbitrary blockchain states. This can be utilised to validate stateful assets during settlement, ensuring the asset has not been modified.
Enjin has also promoted the news, tweeting: “ERC-1155 support is coming to 0x protocol on August 5.”
ERC-1155 support is coming to 0x protocol on August 5 ? https://t.co/0z9tWpJ9mz
— Enjin (@enjin) July 30, 2019
Interested in reading more stories relating to the multi-token standard? Discover more about Ethereum adopting ERC-1155 as an official token standard here on Coin Rivet.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.