In this post, I’d like to touch on the ERC-721 protocol standard, which is the basis for many “Non-Fungible Tokens” (NFTs) that we see on Ethereum and other blockchains. This will be a technical post, and I’ll assume you’ve already read my previous post on the distributed ledger to better understand the groundwork for some of these ideas.
I often see the question “what does a blockchain solve?” Other times, blockchains are presented by critics as solutions in search of a problem, or that the ideas that blockchains aim to solve are simpler to achieve with a typical private database. I think it’s worth analyzing this, to understand the fundamental properties of a blockchain that distinguish it from other solutions.
I’m thinking of testing out mirror.xyz specifically to write about my findings with blockchain, NFT, cryptocurrency, DeFi, smart contracts, zero-knowledge proofs, and other subjects as I learn about them.