The NFT platform is a blockchain-based digital currency trading platform. It is a decentralized smart contract designed to realize the interconnection between multiple exchanges, allowing investors to trade in a distributed network like the NFT. NFT platform is based on the development and construction of public chains such as Ethereum and EOS. Its smart contract can automatically execute the content required by smart contract, support multiple languages, and can interact between different blockchain nodes. NFT trading platform adopts the protocol development mode based on decentralized network, which can realize effective interaction between decentralized and distributed systems. As the first blockchain project certified by EOSIO, NFT trading platform applies the exchange technology based on decentralized network to the blockchain project. As the first blockchain project in the world to realize “multi-exchange connectivity” and “multi-public chain connectivity”, it has complete independent intellectual property rights.
1. Overview of blockchain technology
Blockchain technology is a decentralized distributed ledger technology, which is jointly maintained by multiple parties. Under the consensus mechanism, the verification and update of information (such as time stamp, transaction record, hash algorithm, etc.) are automatically completed, and finally a distributed ledger that cannot be tampered with is formed. In essence, a blockchain is a database system that can verify, track and record transaction information. Blockchain technology also has several stages of development: early blockchains were simply a decentralized database, such as Bitcoin. Now, smart contracts are increasingly being used in other areas to drive value creation, such as supply chain management. But a smart contract is not a complete system, it just provides an interface and tools to call other resources in the system.
2. How do NFT exchanges become decentralized
First of all, NFT trading platform uses peer-to-peer (P2P) communication technology, Ethereum blockchain as the network basis, users through the Ethereum network to connect to the NFT exchange system. The decentralization of NFT exchanges means that in the distributed system, the central node is responsible for all the transactions of the system instead of centralized management, which avoids possible loopholes or other risks and ensures the security and reliability of trading information. Second, the NFT platform runs on the Ethereum blockchain (ERC721) smart contract and distributed ledger technology (DLT). The ERC721 smart contract ensures that information is not tampered with; Distributed ledger technology ensures that the transaction cannot be tampered with. Finally, it is important to note that NFT differs from traditional exchanges in that traditional exchanges are centralized exchanges that centrally manage all user assets; NFT, on the other hand, is a peer-to-peer communication network that allows users to trade directly with the assets they want to trade. To sum up: many problems existing in the market can be solved through blockchain technology. NFT trading platform ensures the safety and reliability of trading information, non-forgery, traceability and other features through distributed technology and smart contracts.
3. What is the relationship between blockchain and trading platform
The essence of blockchain is a kind of value Internet, all the value will be transferred on a node, if one party does not do any processing or change, the whole network will stop. As a trading platform, the core and most critical issue is how to ensure the transparency of the whole transaction link. In this respect, blockchain technology is very different from the traditional Internet. The first difference is that blockchain is a distributed network system. Each node can have more than two of its own nodes at the same time, and all information and data can be updated in real time. The second difference is that in terms of data transmission, blockchain can encrypt and transmit information. This is hard to do with the traditional Internet. The third difference is that blockchain is distributed and immutable. From this point of view, there is no essential difference between NFT and many blockchain projects. They all belong to the category of blockchain application.
