The creaon of Bitcoin introduced the concept of trustless, digital
scarcity. Before it, the cost of replicang something in the digital world
was next to nothing. With the advent of blockchain technology,
programmable digital scarcity has become possible – and it’s now being
used to map the digital world to the real world.
Non-fungible tokens (NFTs), also oen referred to as crypto collecbles,
expand upon this idea. Unlike cryptocurrencies, where all tokens are
created equally, non-fungible tokens are each unique and limited in
quanty.
NFTs are one of the key building blocks of a new, blockchain-powered
digital economy. Several projects are experimenng with NFTs for a
variety of use cases, such as gaming, digital identy, licensing,
cerficates, and fine art. What’s more, they can even allow fraconal
ownership of high-value items.
As NFTs are geng easier to issue, more and more of these new types of
assets are created every day. This arcle will dive into what NFTs are,
what they can be used for, and how a game called CryptoKies
congested the Ethereum blockchain in late 2017.
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Best domain now
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit