Non-Fungible Tokens (NFT)
By CoinGecko | Updated on May 28, 2020
They are collectible elements within the Ethereum blockchain under ERC-721, where each token refers to a single element with a certain value. They represent something unique and therefore does not have the mutual interchangeable value. In other words, no non-fungible token is the same. The most popular is CryptoKitties, but there are many others.
Related Terms
Staking
The state of locking-in significant amount of token to participate as a validator of a Proof-of-Stake network.
Ledger
A record of financial transactions that cannot be changed, only appended with new transactions.
Public Blockchain
An open sourced blockchain where participation is public and permissionless
ERC-721
ERC-721 is one of the most widely used token standards in Ethereum to create non-fungible, exchangeable tokens.
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