NFTs, wouldn’t exist without smart contracts, and digital agreements written with computer code and deployed on a blockchain. Their main function is to execute one or multiple actions if conditions are met, often following simple “if/when-then†statements, e.g., if X is true, then Y will happen. These programs automate execution, and workflow, and streamline the …
What Are NFT Smart Contracts & How Do They Work? Read More »
Minting is the process of creating an asset on the blockchain. It’s the process used to create non-fungible tokens (NFTs,) which are blockchain-based tokens that prove ownership of an item such as a piece of music, profile picture, or image. They first grew in popularity in 2021, with collections like Bored Ape Yacht Club and CryptoPunks …
Things can get a bit complicated when simply “copying” an NFT from one blockchain to another. As a refresher, a blockchain is a decentralized collection of financial accounts across a peer-to-peer network. It’s used to confirm transactions without needing a central governing body, allowing users to make transactions without a third party. NFTs (non-fungible tokens) …
Can You Copy an NFT Onto a Different Blockchain? Read More »
Bitcoin did the heavy lifting of creating a peer-to-peer decentralized and tokenized financial network. One person can send another person halfway around the world $1,000,000 in BTC for a paltry $20, sometimes even as low as a dollar and change. The problem is that microtransactions, such as sending a friend $4 for a cup of …
Layer-1 vs. Layer-2 Blockchains: What You Must Know Read More »
There are quite a bit of misunderstandings around NFTs. Many people think NFTs are minted on the Ethereum blockchain through a platform like Rarible and — voila! — the art is non-fungible and lives forever in a decentralized manner on the blockchain. But that’s not entirely the case. NFTs, or “non-fungible tokens†are really only …
