What is NFT? Non-fungible tokens (NFTs) represent real-world objects like music, avatars, games, and videos. They can be bought and sold online on the available NFT marketplaces with the help of cryptos. Fiat and cryptocurrencies are fungible i.e they can be exchanged or traded for one another. But the NFTs cannot be replaced or interchanged for one another. The amazing difference between NFTs...
What is a Non-Fungible Token? Non-fungible tokens (NFT) are a kind of digital asset which is used to symbolize ownership of a completely unique object. They are different from commodities and different fungible tokens because they have an intrinsic, virtual scarcity. Proprietors can switch non-fungible tokens to other owners via a smart Contract. The scarcity and ability to transfer them...
Mining is the process by which the miner adds a new block to the blockchain. By this, the network confirms recent transactions and plays a crucial role in the blockchain ledger’s maintenance and development. When a user tries to perform the transaction from the blockchain network the crypto amount is dispatched from his wallet with the help of the wallet application. This transaction is...
Blockchain is a distributed ledger technology, a digital system for recording transactions and storing data in multiple places simultaneously, making them immutable and impossible to hack. Since it creates a decentralized distribution chain, each and every computer on the blockchain network has access to all the data and all copies of the data are updated and validated simultaneously. In a...
Through its tenets of decentralization, transparency, and security, Blockchain has created a new type of internet. It has radicalized the way transactions occur and continues to make great strides in virtually every industry imaginable. Although best known for Bitcoin and Cryptocurrencies, the scope of Blockchain Technology doesn’t end there by any means. It has found applications in...