smart contracts And NFTs

Smart contracting protocols introduced by Ethereum are sophisticated concepts. Contracts are created using Solidity, a unique programming language designed to run on the Ethereum Virtual Machine (EVM), which serves as a kind of operating system and persistent storage for Ethereum accounts and contracts. Without going too far into the technical details, the complexity behind the smart contracting system is one of the main reasons why Ethereum is one of the world's most popular blockchains for NFTs. Why? Because, At its core, every non-fungible token comes in a smart contract.

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It's easy to think of NFTs as digital assets — like paintings, video clips, or gifs. However, NFTs are blockchain tokens that enable transactions. The token is linked to the asset you want to buy, but is not the asset itself. Additionally, physical assets can also be traded through NFTs using QR codes or similar tools (if you want an in-depth explanation of how it all works, check out our guide to NFTs See (see guide).

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Suffice it to say that smart contracts bridge the gap between digital and physical assets and the blockchain network. NFTs allow validating nodes (individuals who validate blockchain transactions) to track the transfer of a digital asset as it changes hands throughout the ecosystem. Using this method, verifiers can verify ownership and ensure that trades and transactions are authentic. All of this is done using smart contracts, and this is what has made Ethereum the cornerstone of the digital asset - and NFT - revolution.

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Thanks to its advanced functionality and how quickly it was to market, most major NFT projects were initially launched on Ethereum. Digital wallets and similar transaction technologies were also – first and foremost – designed to be compatible with Ethereum. There was no other leading competitor at the time that could offer the same level of functionality.

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