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NFT

Beginner

An NFT (Non-Fungible Token) is a unique digital asset that represents ownership of an item, such as art, music, videos, or collectibles, on a blockchain. Unlike cryptocurrencies, NFTs are not interchangeable, as each one has distinct properties and value. They are often created on Ethereum using standards like ERC-721. NFTs prove authenticity and ownership digitally and have gained popularity in entertainment, gaming, and digital art. However, their value can be volatile and speculative, and not all NFTs have lasting worth.

Related Words

Nonce

Advanced

A nonce (number used once) is a value adjusted by miners in Proof of Work consensus mechanisms to find a valid hash during the mining process. It plays a key role in verifying transactions and securing blockchain data.

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