Tag: Blockchain
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Non-Fungible Token (NFT): Definition and Operation
Definition A non fungible token is a cryptographic record on a distributed ledger that links a single identifier to a digital file, physical object, or bundle of legal rights. An NFT originates when software hashes the metadata of an image, audio clip, or three dimensional model. The resulting 64-character string becomes the token’s identity. The…
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Ether (ETH): The Currency That Powers Ethereum Applications
Ethereum denotes the open source protocol that hosts smart contracts, decentralized exchanges, non fungible tokens along with permissionless finance. Ether denotes the native monetary unit of that protocol. The protocol provides the settlement layer – the monetary unit settles the fees. A clear separation between protocol and currency is the first step toward grasping digital…
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DigiByte (DGB): Architecture, Operation along with Current State
DigiByte (DGB) is a peer-to-peer cryptocurrency and blockchain platform launched in January 2014. DGB tokens pay transaction fees for decentralized applications and smart contracts executed on the DigiByte chain. The protocol processes up to 1,066 on chain transfers each second through a block interval of fifteen seconds plus a maximum block weight of 750 kilobytes.…
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NFTs and the Environment – What You Need to Know
A non fungible token records ownership of a digital item on a distributed ledger. Each token contains a cryptographic hash that points to an off chain file, such as a JPEG, MP4, or PDF. The ledger itself relies on thousands of computers that run day and night. Those machines consume electricity, emit heat along with…
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What Are Native Tokens?
A native token is a digital asset minted directly on a blockchain protocol. Early usage limited the label to the first asset that powered a chain. Over time the label expanded to cover every asset issued by the protocol itself, regardless of function. Bitcoin, ether along with the dollar pegged USDC illustrate the range. Bitcoin…
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