From the course: Introduction to NFTs: Non-fungible Tokens
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NFTs are powered by blockchain technology
From the course: Introduction to NFTs: Non-fungible Tokens
NFTs are powered by blockchain technology
- [Instructor] It's surprising to me that the now-famous Satoshi Nakamoto Bitcoin paper never mentions the term, blockchain. Today, when discussing blockchain, we're generally referring to the distributed ledger and some additional technologies that enable its unique, decentralized transaction handling. Let's look at how blockchain solves the double-spend problem, and, in doing so, supports a new set of capabilities for digital transactions and assets. Blockchain technology runs on participating devices and networks with specific goals. For example, Bitcoin uses blockchain to enable it to be a cryptocurrency. Other blockchain networks support solutions in supply chain, financial services, governments, media, and many other industries. You can think of blockchain as the system that different applications run on top of. To understand how it works, I'll describe a blockchain environment where parties want to pay each…
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