NFT (Non-Fungible Tokens): DeFi + Open Source Software Development

NFT (Non-Fungible Tokens): DeFi + Open Source Software Development

NFT (Non-Fungible Tokens): DeFi + Open Source Software Development

Our article today is from the area DeFi (Decentralized Finance), which as we have said before, is currently a type of Open Source financial ecosystem and a technological trend that occurs, around the recent Blockchain Technology on the financial world, which is getting stronger every day due to the rise of Cryptocurrencies, and now more with the popularity of the "NFT (Non-Fungible Tokens)" o "Non-Fungible Tokens".

The "NFTs" are tokens of a Chain of blocks (Blockchain) that are usually used as a digital certificate of non-duplicable property on a digital asset I specify anyone. That is, they are used as a kind of Smart Contract made with software from open source to ensure a digital asset.

Crypto Assets and Cryptocurrencies: Conclusion

Essential Basic Terminology

What are the Tokens of a Blockchain?

"Within a Blockchain, Tokens are usually defined as a cryptographic token that represents a unit of value, which can be acquired through it, in order to later be used to obtain goods and services. Among many things, a Token can be used to grant a right, pay for work done or to be executed, transfer data, or as an incentive or gateway to related services or functional improvements.

While a Cryptoasset is usually defined as a special token that is issued and traded within a blockchain platform. It also usually refers to each of the different existing tokens (cryptocurrencies, smart contracts, governance systems, among others.) And other forms of goods and services that use cryptography to function." Crypto Assets and Cryptocurrencies: What should we know before using them?

What are Smart Blockchain Contracts?

According to the website of Bit2Me Academy, that Smart Contracts can be defined as:

"A special type of instructions that are stored in a Blockchain. In addition, they have the ability to self-execute actions according to a series of parameters already programmed. All this in an immutable, transparent and completely secure way. These aim to eliminate intermediaries to simplify processes and thereby save costs for the consumer.

These are made from scripts (computer codes) written with certain programming languages, which is why the terms of the contract are pure sentences and commands in the code that forms it.

And finally, these are valid without depending on authorities, which is due to its open source nature, which is visible to everyone and cannot be changed by existing on blockchain technology. And this is precisely what gives it a decentralized, immutable and transparent character." Smart Contracts: What are they, how do they work and what do they contribute?

NFT (Non-Fungible Tokens): Smart contracts made with open source

NFT (Non-Fungible Tokens): Smart contracts made with open source

What are NFTs (Non-Fungible Tokens)?

However, to deepen the concept and scope of the same, we will cite the concept exposed on the "NFTs" on the website of the Binance Academy, which says expresses the following:

"A non-fungible token (NFT) is a type of cryptographic token on a blockchain that represents a single asset. These can be fully digital assets or tokenized versions of real-world assets. Since NFTs are not interchangeable with each other, they can function as proof of authenticity and ownership within the digital realm.

Fungibility means that the individual units of an asset are interchangeable and essentially indistinguishable from one another. For example, fiat currencies are fungible, because each unit is interchangeable for any other equivalent individual unit. " Guide on Crypto Collectibles and Non-Fungible Tokens (NFTs)

Why are NFTs so popular now?

Since, "NFTs" They cannot be interchanged with each other, since no two are the same, these have become very famous lately as marketable and / or collectible digital instruments. And this has made them very popular to sell works of digital art or any other intangible good that is of value.

In addition, their character of unique these are also inoperable, that is, there is only one original and there cannot be 2 in uses on the same platform, they are indivisible unlike cryptocurrencies, and they are indestructible and verifiable, because they are part of a chain of blocks.

Anyway, the issue about "NFTs" it is wide just like any other open source software development field related DeFi. Therefore, it is good to deepen the subject in specialized sources.

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Conclusion

We hope this "useful little post" on «NFT (Non-Fungible Tokens)», or better known for their translation in Spanish, Non-Fungible Tokens, Which are open source software development field related DeFi, and they have become so popular and useful to many; is of great interest and utility, for the entire «Comunidad de Software Libre y Código Abierto» and of great contribution to the diffusion of the wonderful, gigantic and growing ecosystem of applications of «GNU/Linux».

For now, if you liked this publicación, Do not stop share it with others, on your favorite websites, channels, groups or communities of social networks or messaging systems, preferably free, open and / or more secure as TelegramSignalMastodon or another of Fediverse, preferably. And remember to visit our home page at «FromLinux» to explore more news, as well as join our official channel of Telegram from DesdeLinuxWhile, for more information, you can visit any Online library and OpenLibra y jedit, to access and read digital books (PDFs) on this topic or others.


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