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What does this state hold exactly?

• alexambarch 4y ago
  What entity an ENS record is registered to, who owns what JPEG, who sent who some Ether... Ethereum is one big state machine so that state holds everything.
  • Yizahi 4y ago
    For ENS - yes, for JPEG or whatever else - definitively no. There is literally nothing stored inside the token to describe who owns a digital or physical artifact outside of blockchain and it is technically impossible to store such info in the blockchain, while keeping even a current sham of decentralization, transaction throughput and gas price.
  • nradov 4y ago
    Ethereum (or any other blockchain) is unable to establish legal ownership of a JPEG.