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so, the principle of non-fungability is now rendered invalid. The whole point to a unique token is the trait of uniqueness. Moving it to another chain is just a

by chews 6y ago

so, the principle of non-fungability is now rendered invalid. The whole point to a unique token is the trait of uniqueness. Moving it to another chain is just a derivative.

capiki 6y ago
I see. So then among the (enumerable) number of blockhains that people trust, the first token (not exactly sure if "first" is as simple as it sounds) = the "real" one, and the rest are replicas?
- capiki 6y ago
  Nvm. Seems like time has nothing to do with it, just if it gets signed by the creator. Not sure how that part gets verified though.
  - lottin 6y ago
    It's not verified, how could it be? A "smart contract" cannot verify personal identities, because a smart contract is just a computer program.
jbverschoor 6y ago
The recent hype is unfounded. NFTs are simply tokens like others, but the difference is that the tokens itself are unique. A normal token is like having 5 dollars, with no individual/per token owner, history or storage. With an NFT you will have 5 times 1 dollar with their own owner, history and storage. Their value should be based on the legal contract or utility that they represents. Which often is 0. For programmers it should be easy to understand. Token: key value store of a global userid->amount NFT: NFT class (name, jpg checksum, jpgurl) for example And a global key value store of: userid->NFT instance Just read any ERC20 and ERC721 template, it’s just a few lines of code.