NFT blockchain was start working in the BTC platform but it had a lot of limitation for NFTs , so at first all NFTs worked in ETH blockchain and usually issue on the Ethereum Network as ERC 721 tokens.
As we promised in the ” What are NFTS ” article , we collect and provide practical explanations about the NFT China blockchain. and if you new in the NFT world I suggest you at first read here : ” Start in NFT ” .
What is Non-fungible tokens (nft) blockchain platform?
NFT blockchain at the first is in Ethereum platform . Ethereum is also a crypto currency that additionally provides a versatile platform which allows developers to implement “smart contracts.” Smart contracts are packets of code that are connected to a digital asset that confirms the asset as individually unique. These contracts can be applied to anything digital and are basically unhackable and uncopiable. NFT’s are goods , that have smart contracts attached .
In addition to Ethereum , NFT blockchain was not restricted to ETH , and other blockchains also provided their services in the NFT.
Most popular NFT Blockchain List
NFTs are built on different platforms, which, as we said, is the largest and best Blockchain for it is ETH. Below we introduce some of them:
- Ethereum ( ETH )
- Polygon ( Matic )
- Binance smart chain ( BNB )
What is NFT Blockchain ETH ?
Blockchain ETH for mint NFT use ERC-721. Let’s take a brief look at it . ERC-721 tokens are non-fungible. This means that each token is unique and as a result, not interchangeable.
ERC-721 – The Non-Fungible Token Standard, was created by William Entriken, Dieter Shirley, Jacob Evans, and Nastassia Sachs due to ERC-20 interface incapabilities. Through an Ethereum Improvement Proposal (EIP) created on the 24th of January 2018.
A popular Ethereum decentralized application, Cryptokitties, utilized ERC-721 to create unique digital collectibles in the form of kitties.
Each different kitten was worth a different amount on the marketplace, dictated by the users of the platform. Each different kitten commands a different price, and as a result, each token needs to be unique.
Ethereum makes it possible for NFTs to work for a number of reasons:
- Transaction history and password metadata are generally verifiable – proof of ownership history is simple.
- Once a transaction is approved, it is almost impossible to manipulate that data to “steal” the property.
- NFT trades can be done on a peer-to-peer without need for platforms that can compensate for large reductions.
All Ethereum products share the same “backend”. every product will have the most up-to-date ownership information.
- Ethereum never goes down, meaning your tokens will always be available to sell.
What is NFT Blockchain Polygon?
Polygon is a blockchain that provides scalable, secure and instant transactions with Ethereum currencies like ETH, USDC, DAI.
This guide explains several of the advantages to buying NFTs on Polygon:
There are no more costly wallet initialization fees.
Selling and buying NFTs is gas free.
Gas fees are only required when transferring ETH funds to the Polygon network.
Please note that buying an NFT on Polygon requires using Polygon ETH. In order to spend your Ethereum currencies on Polygon, you must first “bridge” them across to the Polygon blockchain.
Most NFTs work on the Ethereum blockchain.
NFT blockchain is in ETH , XTZ , THETA platforms.