Page 170 - Reclaim YOUR DIGITAL GOLD (without audio)

RECLAIM YOUR DIGITAL GOLD

distributes transactions across the network of computers
that comprise the blockchain.

The structure of data differs greatly between a traditional
database and a blockchain. A blockchain stores
information in groups known as blocks, which contain
data sets.

The blockchain is being combined with artificial
intelligence (AI) by developers in the technology
innovation sector to improve the efficiency of smart
contracts used to generate NFTs. As they currently stand,
NFT smart contracts are self-executing in the sense that
they can check for and execute contract terms without
the assistance of a third party or a central authority. A
smart contract is essentially a mechanism for carrying
out a purchase agreement between the owner of the
NFT and the buyer.

This breakthrough technology has the potential to
democratize the creative economy by allowing artists to
communicate directly with the general public. Despite the
fact that NFTs are gaining popularity around the world
due to transactions involving millions of dollars and the
tokens’ potential, there is still a great deal of obscurity
surrounding the procedure by which these tokens are
generated.

How do distributed ledger technologies such as
blockchain and artificial intelligence function behind
the scenes, and what role do they play in the overall
process? Let’s see if we can help you find answers to
these questions by looking at some of the cutting-edge
work being done in the fields of NFTs and AI.

150