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Re: ERC-721 Non-Fungible Token Standard on Ethereum vs. VCs on Hyperledger Indy

From: Carlos Bruguera <cbruguera@gmail.com>
Date: Fri, 12 Feb 2021 18:09:39 +0700
Message-ID: <CAJrRL-His8dswayN8g+WMQ4PS85O-yNEne1enYUkHXCvU8P2oQ@mail.gmail.com>
To: Will Abramson <wip.abramson@gmail.com>
Cc: "Michael Herman (Trusted Digital Web)" <mwherman@parallelspace.net>, Credentials Community Group <public-credentials@w3.org>
Just a quick comment, ERC-721 defines an *interface* the token contracts
should implement to comply with it, but it doesn't enforce any particular
behavior, therefore it's possible to write a *non-transferable* ERC-721,
still complying with the interface as long as the `transfer` function is
provided, it would either revert or not do anything.

On Fri, Feb 12, 2021 at 5:51 PM Will Abramson <wip.abramson@gmail.com>
wrote:

> An immediate difference is that ERC-721 or I believe any token on Ethereum
> is transferable. I can send it to you, you could sell it to someone else
> using a platform like OpenSea, etc.
>
> This is not obviously possible using the Indy stack today without some
> hack involving the issuer of the credential revoking and re-issuing it. I
> believe there is some work in Ursa around the crypto for transferrable
> credentials but not sure what status and priority this has.
>
> Also, the ERC-721 keeps track of tokens and token holder addresses
> available to anyone who queries the contract.
>
> They are a couple that come to mind,
>
> Will
>
> On Thu, Feb 11, 2021 at 11:05 PM Michael Herman (Trusted Digital Web) <
> mwherman@parallelspace.net> wrote:
>
>> I hope this isn’t stretching the favorable use of the CCG mailing list…
>>
>>
>>
>> When are Hyperledger Indy/Sovrin VCs better than Ethereum smart contracts
>> for NFEs/NFTs (non-fungible entities/tokens)?
>>
>>
>>
>> It seems obvious but I don't have a detailed/worked out answer.  One
>> project I'm associated with wants to use the ERC-721 Non-Fungible Token
>> Standard on Ethereum but I believe VCs are a better route to take. Part of
>> the desire to stay on Ethereum is there is quite a vibrant NFT community on
>> Ethereum and lots of different EC-721 tokens.
>>
>>
>>
>> https://eips.ethereum.org/EIPS/eip-721
>>
>>
>>
>> What are the considerations/decision points/knock-offs?
>>
>>
>>
>> Best regards,
>>
>> Michael Herman
>>
>> Sovrin Foundation Self-Sovereignist
>>
>>
>>
>> Self-Sovereign Blockchain Architect
>>
>> Trusted Digital Web
>>
>> Hyperonomy Digital Identity Lab
>>
>> Parallelspace Corporation
>>
>>
>>
>>
>>
>

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Received on Friday, 12 February 2021 11:28:09 UTC

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