Non-fungible Tokens (NFTs)
Fungible: non-unique divisible (Bitcoin)
Non-fungible: unique and nondivisible (NFT)
NFT get their value by the celebrity in the chain of transactions: This was owned by Bill Gates. Same metaphysics as an autographed item.
Key is marketing. Thought more important it is for NFTs.
Token is data managed by an instance of a smart contract.
Fungible tokens belong to the same contract
- Total Supply
- Token ID
app that acts like a local database for keys and interact with the blockchain
Evolution of fintech that uses blockchain and eliminates 3rd party intermediaries.
Interest rates are based on Yield Farming via Automatic Market Makers through liquidity pool and asset swapping.
NFT is made divisible by tokenization through liquidity pools
Pubic Blockchain and Gas Fees in Qwei
Transaction = Sender + Recipient + Payload + Gas + Signatures
Layer 2 Protocols
Additional layer that acts as a private network to make Ethereum transactions cheaper.
Hyperledger Fabric does not use crypto. Create NFT then transfer it.
Smart contracts are called chaincode in Hyperledger