NFT On chain vs Off chain

Discussion of the NFT blockchain tenlogy
Post Reply
User avatar
TometlesNFTs
Posts: 1
Joined: 24 Apr 2022, 08:50

NFT On chain vs Off chain

The enthusiasm for NFTs is only growing. But how to navigate among the various projects already marketed?

It is above all important to note that two exits from NFTs coexist:

- NFTs stored in the blockchain, for which the entire content of the digital work of art is recorded, bit by bit in a block via a transaction. Thus this work of art becomes immutable and perpetuated by the fundamental principles of the blockchain.

- NFTs stored outside the blockchain, for which only an "ipfs://" type link is recorded in the block chain, the image associated with this NFT will be stored in a decentralized file system called IPFS. But here we go beyond the very concept of the block chain, the integrity of the digital image then depends on the proper functioning of IPFS. The transactions to trade these NFTs on the blockchain are actually transactions that allow you to trade IPFS URLs, you really only have one URL on your account.

A distinction is therefore made between "On Chain" and "Off Chain" NFTs, based on two different technologies, and not having the same guarantees as to their durability. It is so expensive to save data in a blockchain, that most projects use IPFS, with a few exceptions, often the NFTs exchanged for the most expensive amounts. These “On Chain” NFTs are often small images like crypto punks.

However, there are collaborative projects allowing the development of much larger works of art, such as TheMasterPiece, this project (https://themasterpiece.art) allows everyone to participate in the production of an "On Chain" work. of 33 million pixels, stored in the Flow blockchain. This achievement becomes possible thanks to the community of participants who can buy one or more pixels for a few cents and register their own design. These pixels are all "On Chain" NFTs whose data contains position and color. Thus the cost of transactions and storage of TheMasterPiece are distributed among a community of investors, amateur or enlightened artists. When a quarter of the work is constituted, the community will be free to exchange the pixels held at a free price, via a smart contract, offering a new kind of decentralized NFT market, and allowing the work to constantly evolving over time.

https://themasterpiece.art/?utm_source= ... gn=Sector0
Post Reply

Return to “NFT Technology”