Overview

The Asset Register is a new ledger system and tool suite that enables developers to establish links between assets. It was built because assets in web3 are currently restricted by their linear data composition. Each asset typically only has one corresponding metadata file and there is no way to create connections between assets in disparate ecosystems. By solving this issue we are bringing real-world-like interactivity to assets.

When the idea for the Asset Register was originally conceived, we envisioned representing digital assets just like assets in the real world. This idea is deeply rooted in our vision of augmenting the metaverse, and it is present in all of our products. The concept aims to blur the line between digital and physical, creating a unified experience that brings tangible meaning to digital ownership. This vision has driven every stage of development, guiding us through both the initial challenges and ongoing enhancements.

The Journey to a Custom Ledger System

Initially, we experimented with a smart contract-only approach, which would have allowed us to directly benefit from the verifiability and security of a Layer 1 (L1) network like The Root Network or Ethereum. However, we faced several challenges:

• High gas fees: Making it costly for users to interact with assets.
• Slower verification: Resulting in delays that were unsuitable for our intended user experience.
• Limitations to rich features: Smart contracts alone couldn't support the dynamic, evolving nature of the asset relationships we wanted to create.
• Limited cross-chain compatibility: Bridging between different chains presented both technical and user experience issues.

These limitations led us to develop a more suitable solution using a purpose-built ledger. This system provided the flexibility needed to create a rich user experience without compromising the core principles of blockchain-based security and verifiability. The system was built to overcome the cost and speed limitations to help make it a foundational pillar for the future of asset management in the metaverse.

Key Principles of the Asset Register

Cross-Chain Accessibility

The most crucial feature of the Asset Register is its accessibility across multiple chains that support NFT and SFT standards. Starting with EVM chains, we have enabled cross-chain interactions via asset linking, removing the need for bridging and allowing creators to use their preferred blockchain. This approach is being utilised by The Next Legends collections, where users can equip their boxers—which can be owned on Ethereum or The Root Network (TRN)—with accessories minted on The Root Network.

Our approach to cross-chain accessibility focuses on giving creators maximum flexibility. By eliminating the need for traditional bridging, we have simplified the user experience and reduced potential risks and complexities. This cross-chain support extends beyond just compatibility; it brings true interoperability, allowing assets to seamlessly interact and be enriched by elements across ecosystems.

Interoperability

Inspired by token standards like ERC721, ERC20, and ERC1155, we aim to create a standard that allows any party to plug into the system. Our schema system describes compatible "equips" for any asset, enabling developers to dynamically create UIs that work for any asset with a registered schema. This makes interacting with assets more seamless and intuitive, as seen in applications like AR Docs Manage Assets.

Interoperability is at the heart of our metaverse vision. With the Asset Register, we are building an open ecosystem where assets can transcend individual platforms and adapt to new environments. The schema-based approach not only provides flexibility but also ensures that the metadata remains structured and meaningful, enabling a wide variety of use cases. Developers can easily build on top of this system, fostering innovation and collaboration across projects.

Openness and Immutability

The Asset Register is an open system, allowing anyone to interact with it. Any creator can build schemas and register their assets. All transactions are immutable and recorded in the Asset Register history. Instead of chaining blocks, we chain the transactions directly.

Openness and immutability are essential to maintaining trust and transparency within the metaverse. By allowing any creator to contribute and ensuring that all interactions are recorded immutably, we provide a level of transparency that encourages trust. This is particularly important as we begin to fully decentralize the Asset Register where users can confidently engage with assets knowing their integrity is protected.

Design Overview

The core system of the Asset Register follows blockchain principles while making key modifications to enhance performance and user experience. We aimed to design a system that is both technically robust and user-friendly, bridging the gap between the often complex blockchain backend and the front-end user experience that consumers expect.

Transactions

Transactions are designed to be easily readable by users before submission, ensuring transparency without needing custom wallet parsing. Upon submission, transactions are immutable and verifiable, supporting a wide range of wallets for EVM, substrate and XRPL.

This ease of transaction readability is an important feature, as it puts power into the hands of users, ensuring they have full visibility into what actions they are authorising. By integrating with multiple wallets, we also make it easier for users across different ecosystems to interact with the Asset Register, further enhancing its accessibility.

Event Streaming and Transaction Processing

We have developed an event stream that can be subscribed to and used by services such as the PFP viewer in Party Bear Swappables, which updates whenever a user modifies the equip tree of a Party Bear. Technically, there are no blocks; every transaction is processed in sequence, which helps speed up validation while maintaining verifiability.

Event streaming allows for real-time updates and interaction, a crucial element for the dynamic and evolving environments of the metaverse. By allowing services to subscribe to changes, we create a highly responsive and interconnected ecosystem where updates are immediately reflected, enhancing the overall user experience.

Challenges and Solutions

Efficiency and Future Decentralization

One of the primary challenges was creating a system that could perform efficiently while still being suitable for future decentralization. This required a deep understanding of blockchain systems and an innovative approach to overcome existing limitations.

Schema System for apps

We developed a separate schema system as a guide for applications rather than imposing constraints directly on asset linking. This system allows for greater flexibility in managing asset metadata, ensuring that developers can design dynamic and adaptable user experiences without being restricted by rigid definitions. By providing a framework that supports interoperability and scalability, the schema system helps facilitate a diverse range of use cases, making it easier for developers to build and innovate on top of the Asset Register.

Balancing Performance and Decentralization

Performance was a significant concern as we sought to balance the need for speed with the requirements of verifiability and decentralization. To address this, we created a system that uses schemas not as rigid constraints but as adaptable guides, allowing for innovation while retaining consistency. Our efforts towards educating developers and providing robust tooling are critical in overcoming these challenges and making the platform accessible.

Developer Tooling and Early Examples

We also made a big push for developer tooling to educate engineers interested in integrating the  Asset Register. Since the Asset Register is a brand-new interaction layer for assets, visualizing new concepts was crucial. Our first in-house experiences, such as The Next Legends Locker Room and Party Bears Unleashed, helped showcase what is possible and provided developers with tangible examples. These early examples served as proof points for the versatility and potential of the Asset Register, inspiring further innovation and adoption within the community.

The Path Ahead

Decentralizing the Asset Register

Our next steps involve further decentralizing the Asset Register by making it a core protocol on the Sylo Network. In doing so, the Asset Register functionality will become an integral part of the data layer of the metaverse while bringing a new level of verifiability to asset-to-asset relationships across ecosystems. This migration will be seamless, porting existing data and introducing a new transaction scheme that will be familiar to current Asset Register users. We are committed to maintaining accessibility, transparency, and efficiency as we move towards a more decentralized, open metaverse.

By running on The Root Network, we inherit all the security guarantees of The Root Network while ensuring that asset relationships are governed collectively, without reliance on a central authority. This shift will not only improve verifiability but also open up new possibilities for collaboration and community-driven growth. However most importantly, decentralizing the Asset Register is about more than just enhancing security and trust—it is about empowering users and developers.

Ensuring a Smooth Transition

The migration to a decentralized system will be approached carefully to ensure that all existing data is preserved and that users face minimal disruption. Our goal is to make this transition as smooth as possible, leveraging familiar transaction schemes and maintaining the features users value. As we embark on this journey, we are also exploring new ways to enrich asset interactions, including enhanced metadata features, more robust developer APIs, and deeper integration with other blockchain networks.

Future Evolution of the Asset Register

Ultimately, the future of the Asset Register is one of continued evolution. By embracing decentralization, fostering interoperability, and empowering creators, we are laying the groundwork for a truly open metaverse. The Asset Register will continue to grow, adapt, and push the boundaries of what is possible in the digital world, driving the next generation of asset management and digital ownership.

Learn more about the features and custom pallets The Root Network has to offer here. To stay up-to-date with developments and join our growing community, follow us on X and join our Discord.