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What is Blockchain NFT Development

2022-08-04 19:02:34Wei tia8896

Blockchain NFT development is a hot word in recent times. There are many explanations for it, but they all mean the same thing, that is, NFT is developed based on blockchain technology and is a new token type, we call it a non-fungible token.In the past, virtual currencies were explicitly banned in China, and NFTs are also encrypted currencies, and they have been operating in the normal market and are favored by most users. Why?

To know why blockchain NFT development can continue in China, you have to know what kind of existence it is.If the official interpretation of NFT, then its explanation is: NFT is called Non-Fungible Token, which refers to non-fungible tokens. Simply put, it is to put your photos, voices, texts and videos on the blockchain.It becomes a unique, indivisible and rare digital work, and a more popular point is to assign each object an ID number that is unique and non-tamperable with the data on the chain.

The products minted into NFT will go through a blockchain protocol called "ERC721", which is widely used in the current NFT scene.Different scenarios may bring new applications to this blockchain protocol. For example, the equipment requirements in the game prompt the emergence of the ERC1155 format for NFTs. It takes into account the dual characteristics of ERC721 and ERC20, and is gradually applied in chain games.

The reputation of NFT is inseparable from the blessing of blockchain technology. Without the NFT platform of blockchain, the products above cannot be linked to the chain. This is pseudo-NFT. Like the virtual products of the platform, they are allcentralized.

Blockchain NFT development will also exert its influence with the development of the core technology, which is the blockchain.

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