What are NFTs? NFTs explained in brief: Nonfungible tokens, or NFTs, are verifiably unique representations of digital and physical goods. Each NFT generally differs in makeup, and therefore likely differs in value as well.
In the physical world, U.S. dollars are fungible. No value is forfeited if a person trades any given paper U.S. dollar for a different paper U.S. dollar. On the other hand, something such as artwork is generally nonfungible. The “Mona Lisa” is not of equal value to “The Persistence of Memory,” as both artworks are unique, deriving value as such.
Based on distributed ledger technology, NFT crypto assets serve as a method of authentication for buyers of unique items, proving aspects such as ownership. NFTs became much more well known in 2020 and 2021. NFTs have potential for other use cases as well, such as companies tracking their internal resources or platforms verifying subscriptions and use.
What is Nervos Network (CKB)? The Nervos Network (CKB) is an open-source public blockchain ecosystem. The platform was named after the human nervous system, as it plays a similar function in the market: allowing various systems to connect with one another. To increase market interoperability, the network has a unique dual-layer design. This design also adds functionality and scalability to the platform. CKByte (CKB) is its native utility token.
Kadena is a public blockchain that optimises scalability and features a new smart contract language called Pact, which includes formal verification and upgradeable smart contracts. Kadena also employs a novel proof of work (PoW) consensus mechanism known as Chainweb, which consists of numerous independently mined chains operating in parallel to process network transactions. This approach potentially allows for large transaction throughput at the base layer without requiring second-layer scalability or feature solutions.
What is Ethereum Classic Ethereum Classic (ETC) is a decentralised platform that runs smart contracts or applications that aim to run exactly as programmed without worrying about third-party interference, downtime, censorship, or fraud. Ethereum Classic represents the continuation of the original Ethereum blockchain post exploit, which resulted in millions of stolen Ether.
Ethereum launched in summer 2015 with the aim of expanding the use cases of blockchain and cryptocurrency to encompass all manner of decentralized applications beyond Bitcoin’s initial scope, from permissionless financial services and crowdfunding to new organizational structures.