Resources
  • 👋Welcome to Mintpad
  • NFT FUNDAMENTALS
    • 🎨What are Open Editions?
    • 🔥What is burning an NFT?
    • ⛓️What is blockchain?
    • 🖼️What is an NFT?
    • 📃What is a smart contract?
    • 🌇How do NFTs work?
  • GENERAL
    • 💻Blockchains support
    • ❓FAQ
  • Troubleshooting
    • 🛍️NFTs not visible on OpenSea
    • 🌐Connection problems (RPC)
  • Generative Collection (ERC-721)
    • 📃Deploying a smart contract
    • 🖼️Upload your artwork
    • ⏰Adding mint phases
    • 🧰Customize your mint site
    • 🔩Manage your mint settings
  • Open Editon (ERC-1155)
    • 📃Deploying a smart contract
    • 🖼️Uploading your artwork
    • ⏰Adding mint phases
    • 🧰Customize your mint site
    • 🔩Manage your mint settings
  • Open Edition + Burn (ERC-1155)
    • 📃Deploying a smart contract
    • 🖼️Uploading your artwork
    • ⏰Adding mint phases
    • 🧰Customize your mint site
    • 🔩Manage your mint settings
  • NFT GENERATOR TUTORIALS
    • 🏭Generating unique NFTs
    • 🏭Generating 1/1 NFTs
    • 🏭Generating metadata for your artwork
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  1. NFT FUNDAMENTALS

What is blockchain?

Understanding terms like "blockchain" is essential for understanding the NFT space.

What is blockchain?

Blockchain is a digital ledger technology that securely stores transactions in a decentralized network of computers. Each transaction is verified and added to the ledger as a block, forming a chain of blocks that create an immutable record of all activities on the blockchain. This means that it is extremely difficult, if not impossible, to hack or change the data stored in a blockchain.

DLT, or Distributed Ledger Technology, refers to the decentralized management of this ledger by multiple participants. This allows for a transparent and secure system, as every participant has a copy of the ledger and can verify the accuracy of the transactions. The use of cryptographic signatures, also known as hashes, further strengthens the security of the data stored on the blockchain.

The decentralized nature of blockchain technology and the difficulty in altering the data stored in it make it an ideal platform for securely storing valuable information, such as financial transactions, personal identity information, and digital assets like NFTs. Digital creators can take advantage of blockchain technology to securely sell, trade, and manage their digital creations, providing an additional layer of security and protection for their work.

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Last updated 1 year ago

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