NFTs arrive on IOST
NFTs arrive on IOST
Blockchain

NFTs arrive on IOST

By Alfredo de Candia - 14 Apr 2020

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The official news from IOST, a blockchain using the form of consensus called Proof Of Believability, came on Easter day, according to which the team has released its NFT IRC-721 standard, bringing the non-fungibility of tokens to this protocol as well.

The post starts by explaining how NFTs (Non Fungible Tokens) work and its main features, citing the most famous case of the collectable CryptoKitties.

– Each NFT has a unique token ID;

– NFT are not mutually interchangeable;

– The minimum unit is 1 and is indivisible (0.5 IOST exists, but in NFT, there only can be 1 NFT, for example, 0.5 crypto kitty does not exist).

In practice, thanks to this protocol developers will be able to create NTFs on IOST as well.

As far as the end-user is concerned, the post talks about NFTlization, i.e. the transformation of assets and their diffusion remaining scarce, unique and easily exchangeable.

The goal of IOST is to speed up the process of development and integration of these NFT assets, a sector that finds its maximum expression in the gaming world, where there are many games based on blockchain, demonstrating that the industry is always ready to innovate, taking away from games that have decided not to use this technology.

There are in fact many games that take advantage of various blockchains, including EOS and Tron, and even Cardano has promised to develop something in this area.

In just over a year, IOST’s blockchain has continued to make its platform better, with over half a million users showing that they’re constantly interested in both this blockchain and the possibilities it offers. 

On the other hand, however, currently the token of this blockchain floats at its lowest level, touched in mid-March with $ 0.001, dropping to position 89 on CoinMarketCap.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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