When you’re using a Cloud storage system, your host is providing the server storage service for you. Cloud-based storage is also dependent on the host (let’s say Google), so you don’t get full control of what you’re storing.Īnother option for serious investors is off-site server storage. However, cloud storage is usually internet-dependent, as your NFTs will technically be stored on the internet. Traditionally, people will go with Cloud storage as that is the easiest and cheapest form of storage. However, this could pose several problems that on-chain NFTs will never face. You could go with storage on Cloud (Google Cloud, iCloud, etc.), centralized hardware server storage, or IPFS. There are many options available for off-chain storage. ![]() ![]() But if off-chain NFTs don’t exist on the blockchain, then where do they go? Off-chain NFTs are not stored on the blockchain, thus earning the name “off-chain”. If you could take away just one thing from the aforementioned, it should definitely be that on-chain NFTs live and breathe on the blockchain. In the previous section, we established what on-chain NFTs are. Let’s find out more about the off-chain NFTs, so you can get a better understanding of the underlying differences. So this is just the basics of what on-chain NFTs are about. This metadata is integrated with the on-chain NFT itself, so this “information” lives on the blockchain as well. Such things as the NFT’s unique traits, where the digital copy is stored, the description of the NFT, and much more. The metadata of NFTs is its core information. In most cases, they could be used to generate on-chain NFTs, or could point to locations where the NFTs are stored. Smart contracts are programs that execute themselves when certain criteria are met, native to the Ethereum blockchain. Next, we should take a look at smart contracts. This information also includes things like the transaction hash of the generated NFT, which makes it even more unique. Basically, the “information” of these NFTs are all written on the mainnet, and this information is then stored on the blockchain. Now that… was a confusing definition! Let’s break things down a little bit more.įor starters, on-chain NFTs are written and stored on the blockchain. On-chain NFTs are tokens completely written on the (Ethereum) blockchain, implemented with metadata and smart contract both existing on the blockchain. ![]() In this article, we will be going through the basics of on-chain NFTs, some great examples of such projects, and why we think that on-chain concepts are here to stay. Likewise, NFTs are created and stored differently as well. While the layman may not get the fuss over CC0, NFT enthusiasts should have a clear understanding of which is better for the future of the industry. In an earlier article, we discussed the benefits of traditional copyrighted NFTs, versus the up-and-rising CC0-licensed NFTs. However, not all NFTs “exist” in the same way. So, I guess it’s safe to say that the creation of blockchains like Ethereum and Polygon helped pave the way for the rise of NFTs. Before the blockchain, NFTs were just copies of digital art.
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