Cryptocurrency is a digital currency invented in 2008 by an unknown person to allow people to make online payments securely. The first token or coin used in this system was bitcoin, and since its introduction, it has had a tremendous rise in price and popularity within society. Bitcoin has had a significant impact on the whole cryptocurrency concept since then. After more than one decade, we have different types of cryptocurrencies and thousands of coins known as altcoins. One of these decentralized altcoins, which reached a high degree of popularity among the users after bitcoin, is Ethereum.
The main reason is more than being a coin for online payments
Over the blockchain platform. The main advantage of Ethereum is that it enables the deployment of smart contracts and dApps, without any third party involved in the online South Korea Phone Number List environment. But over the past recent years, we heard about one more exciting concept and might be the future of this whole system. NFTs are a new concept getting more and more popular each day because of the vital role it plays in especially entertainment industry. In this article, we will go more deeply into the infant trajectory of NFTs.
How does it work?
There are two different schemes for NFT protocols, which generally work the same, but the hierarchy is separate. Source: Non-Fungible Token (NFT): Overview, Evaluation, Opportunities Taiwan WhatsApp Number List and Challenges (Tech Report) by Qin Wang, Rujia Li, Qi Wang, Shiping Chen One approach is from top-to-bottom, which consists of the NFT owner and the NFT buyer, a typical course designed to build an NFT from the initiator and sell it to an NFT buyer. The following approach is from Bottom-to-top which there is an NFT template, and every user can create a unique NFT. Top-to-Bottom: Here, the owners initiate the workflow and check all the inputs to be correct (NFT Digitize). Then they digitize and store the raw data into external or internal storage (NFT Store). The owners then sign the transaction
