Posts

What's an NFT?

Image
  Non-fungible tokens (NFT) A way to represent anything unique as an Ethereum-based asset. NFTs are giving more power to content creators than ever before. Powered by smart contracts on the Ethereum blockchain. NFTs are currently taking the digital art and collectibles world by storm. Digital artists are seeing their lives change thanks to huge sales to a new crypto-audience. And celebrities are joining in as they spot a new opportunity to connect with fans. But digital art is only one way to use NFTs. Really they can be used to represent ownership of any unique asset, like a deed for an item in the digital or physical realm. If Andy Warhol had been born in the late 90s, he probably would have minted Campbell's Soup as an NFT. It's only a matter of time before Kanye puts a run of Yeezys on Ethereum. And one day owning your car might be proved with an NFT. What's an NFT? NFTs are tokens that we can use to represent ownership of unique items. They let us tokenise things like

What Is a Blockchain?

Image
  A blockchain is a distributed database that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as  Bitcoin , for maintaining a secure and decentralized record of transactions. The innovation with a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party. One key difference between a typical database and a blockchain is the way the data is structured. A blockchain collects information together in groups, known as "blocks" that hold sets of information. Blocks have certain storage capacities and, when filled, are closed and linked to the previously filled block, forming a chain of data known as the “blockchain.” All new information that follows that freshly added block is compiled into a newly formed block that will then also be adde