Become an NFT Developer with Best Practice Way Part 1: The Fundamental
Okay let’s see some hype tech called blockchain not far away with NFT so in this section I will discuss NFT and blockchain, okay this is a table of content
- Blockchain overview
- The Cryptocurrency
- What is An NFT
- How to Blockchain work?
Blockchain Overview
Blockchain is a digital transaction based on a structure in which an individual record is called a block, and that block is linked together in a single list and we are known as a chain.
so blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.
What is An NFT
After discussing blockchain, the next topic is NFT, NFT or non Fungible Token is a digital asset that represents real-world objects like images, music, game, videos, the bought and sold online, frequently as cryptocurrency.
The Cryptocurrency
Crypto or cryptocurrency basically is a collection of binary data a which is designed to work as a medium of exchange.
so the conclusion is that cryptocurrency is a virtual currency that is secured with cryptography which makes it nearly impossible to counterfeit or double-spend, cryptocurrency is decentralized networks on blockchain technology.
How to Blockchain Works?
Okay after discussing what is blockchain in the chapter we will discuss how blockchains work
- Decentralization
- Transparency
- Eternal
Decentralization
before centralized on a simple idea and concept, you can have a centralized entity that stores all the data. You need to be able to interact only with that entity to get whatever information you really need.
another example let’s look at traditional client-server model works
When you are looking for something simple on google, then you can send a request to the server which will then be replied to by sending data in the form of relevant information.
so we can understand how blockchains work, for example, Only you alone are responsible for the ownership of your money. You can also send your money to anyone you choose without using the services of a bank.
Transparency
The most interesting topic when we talk about blockchain is transparency when some people claim blockchain is capable of providing privacy
how it works? because someone's identity is hidden with complex cryptography, If someone sends 1 BTC example “Feri Send 1 BTC” instead it will be replaced with “H1y2GIa sent 1 BTC”.
so even though the real identity of the person is safe, you can still see all transactions made by their public address.
Eternal or Immutability
if something has been entered into the blockchain it can not be duplicated and is unique everything, that enters will not be disturbed, it is a very important instruction for financial such as banks.
that’s the discussion about blockchain in this part, see you in the next part
