Viarium developers blog
News and insights on the Viarium
platform, tools, and events.
Welcome to the first part of our developers’ blog! Here, our IT team
will post weekly updates on the platform development so everyone can
follow our progress. But before we start, let us remind you what Viarium
is all about.
Viarium offers a new concept of a virtual decentralised space with a
set of tools for creating your own VR-world. Viarium is essentially a
copy of the real world where businesses are free of most restrictions
and are able to develop commercial and social projects.
Alright. Now, let’s go into the details.
According to our concept, Viarium users are the owners. Through the
use of an internal Viarium currency (VRX), they can buy land on a
blockchain-based ledger and trade digital assets without interference.
Because no single agent has the power to control ownership, access, or
currency economics, participants can realize the full value of their
creations and consumption.
A blockchain-based Viarium architecture is encoded with ERC721 smart
contract. VRX token — an internal Viarium currency — is based on
ERC20 contract.
To provide a better understanding of how the Viarium system operates,
let’s take a quick look at these two contracts and their functions
ERC-20 came about as an attempt to provide a common set of features
and interfaces for token contracts in Ethereum, and has proved to be
very successful. ERC-20 has many benefits, including allowing wallets
to provide token balances for hundreds of different tokens and
creating a means for exchanges to list more tokens by providing
nothing more than the address of the token’s contract. The benefits of
creating a token as ERC-20 compliant is such that very few token
contracts today are created any other way.
Moving on to the other type of contract we use — ERC 721
ERC-721 defines a set of behaviours and events that the token contract
can do. Usually, it contains information about non-fungible specific
items where ownership is needed. If this sounds unclear think of
CryptoKitties. This new game recently made several headlines within
the cryptocurrency community because of its extremely unique idea.
CryptoKitties is a game in which players can buy, sell, trade, and
breed digital cats. They can be thought of as “breedable Beanie
Babies” in that each cat is unique in some way. This uniqueness makes
the CryptoKitties extremely collectable, as someone could take
interest in the characteristics of several kittens and wish to own
many of them.
ERC-20: For money and money-like tokens.
ERC-721: For things and thing-like tokens.
Getting back to Viarium
Each token unit refers to a certain piece of land. When it comes to
any transactions, like purchasing goods or services, ERC-20 is used.
And ERC-721 allows users to confirm ownership rights to digital
objects and to maintain an exclusive control over their virtual
worlds.
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