The AI Blog
blockchain and nft

Ethereum ERC-1155 is a standard for creating and managing both fungible and non-fungible tokens (NFTs) on the Ethereum blockchain. It was proposed to improve upon the ERC-20 and ERC-721 standards for creating and managing fungible and non-fungible tokens, respectively.

Ethereum ERC-721 is a standard for Non-Fungible Tokens (NFTs) on the Ethereum blockchain. It defines a set of rules and requirements for creating and managing unique digital assets that can be owned, traded, and transferred just like physical assets.

NFT stands for Non-Fungible Token, which is a type of digital asset that represents ownership of a unique item or piece of content, such as a digital artwork, music, video, or collectible. NFTs are built on top of blockchain technology, which enables them to be verified as unique and to be traded and transferred securely and transparently.

Blockchain is a digital ledger technology that allows multiple parties to record transactions in a secure, decentralized, and tamper-proof way. It is essentially a chain of blocks that contains information, and each block is linked to the previous one with a unique code called a “hash”. This creates a chronological chain of blocks that is difficult to alter or tamper with.