Page 4 - RECLAIM YOUR DIGITAL GOLD by Wayne Hinds - Chapter 12 (NFTs and Blockchain)
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Chapter Twelve
NFTs AND
BLOCKCHAIN
t seems like everyone is excited about a new
technological breakthrough known as NFTs (non-
Ifungible tokens). We will look at the rapid growth of
NFTs in this chapter.It is no secret that this new industry
has enormous growth potential. NFTs are data units
stored on the blockchain network. So real assets, such
as paintings, music files, or digital art, are represented
by the token. In fact, NFTs provide a certificate of
authenticity or ownership of the particular asset.
Theyenableanyoneto obtain an original item based on a
contract storedon the blockchain. As aresult,the barriers
to stealing, copying, or producing fakes are removed.
Blockchain technology is a digitally distributed,
decentralized computer network that uses a method of
recording information that makes changing, hacking,
or manipulating the system impossible or difficult. A
blockchain is a distributed ledger that duplicates and
distributes transactionsacrossthenetworkof computers
that comprise the blockchain.
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