CyberKongz Unleashes New Security Standard: ERC721x
CyberKongz announced the re-introduction of ERC721x, a secure upgrade of the standard ERC721, offering both convenience and advanced safety.
The Deets
- ERC721x developed by CyberKongz's lead Solidity Developer @OwlOfMoistness
- Key Features: Locking and Guarding
- Locking allows staking assets without losing ownership
- Guardian feature enables On-Chain 2-Factor Authentication
The Bulk
In a bid to combat prevalent scams and hacks, CyberKongz has introduced a novel Ethereum token standard - ERC721x, an improved version of the ERC721 contract. Developed by its lead Solidity Developer, @OwlOfMoistness, the new standard bolsters the safety of assets, while maintaining the ease-of-use of a hot wallet.
Two core security features are introduced with ERC721x: Locking and Guarding.
Locking allows the user to 'stake' their asset without forfeiting ownership. This means the asset, while locked, cannot be transferred without the lock registry’s permission, maintaining its presence in the holding wallet.
The second feature, Guarding, functions similar to Locking but has its unique distinctions. A wallet holding a valuable asset can assign another wallet as a 'Guardian'. The Guardian has the power to lock assets in the wallet it oversees, functioning as an On-Chain 2-Factor Authentication mechanism.
🎤 Project Prose
We believe this technology is a step in the right direction for security within web3. We encourage other projects in the space to adopt the ERC721x standard, we have already seen some notable collections like 9gag & Keungz implement the standard in their collections.CyberKongz
🔜 What's Next?
The forthcoming CyberKongz Genkai mint will employ this new standard.
🎬 Take Action
Learn more and explore the code in detail in the full breakdown.
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