What Is the Common Blockchain Standard for NFTs?
The most common standard for NFTs is Ethereum's ERC-721. This standard provides a basic interface for non-fungible tokens, ensuring that each token has a unique identifier and that the ownership and transfer logic is consistent across the ecosystem.
Glossar
Blockchain Standard
Framework ⎊ A Blockchain Standard, within the context of cryptocurrency derivatives, options trading, and financial derivatives, represents a formalized set of protocols, specifications, and governance mechanisms designed to ensure interoperability, security, and regulatory compliance across diverse blockchain networks and derivative instruments.
Non-Fungible
Characteristic ⎊ Non-fungible describes an asset whose individual units are unique and cannot be mutually substituted, meaning each unit possesses distinct properties, history, and value.
NFT
Provenance ⎊ Non-Fungible Tokens, within cryptocurrency markets, represent a unique cryptographic token linked to a specific digital or physical asset, establishing verifiable ownership and authenticity.
Unique Identifier
Address ⎊ In the cryptocurrency context, this is the public string derived from a public key, serving as the destination for transfers and the reference point for on-chain activity.
Nfts
Asset ⎊ Non-Fungible Tokens (NFTs) are unique cryptographic assets on a distributed ledger, typically conforming to the ERC-721 standard, where each token possesses distinct metadata and is non-interchangeable, representing verifiable ownership of a singular digital or physical item.