Deepit, a blockchain consulting and development firm, announced today it is partnering with POA Network, to extend the interoperability protocol of POA Network’s TokenBridge to include Non-Fungible Tokens under the ERC-721 standard. POA Network is an open-source project that delivers key solutions for the Ethereum community.
Background: ERC-721 Collaboration
DeeCert, developed by Deepit, is an Ethereum-based event and file certification system which utilizes Non-Fungible Tokens (ERC-721) as certificates. DeeCert integrates existing technologies including Universal Login to guarantee easy user access and the Interplanetary File System (IPFS) for decentralized file storage.
When Deepit first designed DeeCert (and the consumer version of the product called “eviDance”), they set out to create a system capable of handling a large number of transactions quickly and with minimal costs. At the same time, they didn’t want to sacrifice the security offered by a public blockchain such as Ethereum.
After a prolonged and in-depth analysis of the current ecosystem, Deepit selected POA Network as the layer-2 solution that best aligned with the needs of their platform. The Deepit team was already familiar with POA Network projects as their San Francisco team had previous development experience with multiple POA projects including xDai Stable Chain and the TokenBridge.
With POA as a partner, Deepit realized they could extend the interoperability protocol of the POA Network TokenBridge to include Non-Fungible Tokens under the ERC-721 standard.
The two teams will be collaborating on Arbitrary Message Bridge (AMB) 1 technology to achieve this functionality. This new bridging feature will allow ERC-721 tokens to move seamlessly between the Ethereum mainnet and sidechains such as POA Core or the xDai Stable chain.