“In the streets of the Tech. World is mostly known as NFTs”
There is a whole wrong misconception relation between NFT and Blockchain. “All arts that are NFT defined are not stored on the Blockchain”
Most developers/people think that when you encode a “jpeg” as a string, it is when it's stored on the blockchain. Problem is that the encode is way too big and way too expensive to decentralise the “jpeg”.
So what happens is the Host Website that sells NFT(Non-Fungible Tokens), what they will do is, they will host the content for your NFT on IPFS (InterPlanetary File System) but instead of redirecting to IPFS they put a layer in between where you will go to a variable, and then go to IPFS to get the file.
So in reality it's not decentralized at all, falling from the definition of a blockchain. But it falls into the category of Centralized, where it depends heavily on the Website where you bought your NFT.
“if that place goes down your NFT goes away basically”
alvin oyungu
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Non-Fungible Tokens
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