NFT Tech – Your Entry To The Digital Frontier

Being decentralized signifies that the blockchain is able to function with out a middleman. With regard to finance, that intermediary will be anything or anybody – a financial institution, an individual acting as an escrow, a developer who’s written code for the dApp (more on these later) that you’re using, and so forth.

Smart contracts are packages that run on the blockchain. Basically, it’s a piece of code that runs and executes automatically when certain conditions are met. These conditions might be something, from the result of a football match to a wager on tomorrow’s weather. The smartest thing about them is that they’re immutable and can’t be changed.

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The image, named Independence, is of a sculpture of the Statue of Liberty surrounded by a pair of metallic snakes, designed by an artist who goes by the title Fvckrender. (He could also be an enormous deal within the NFT artwork world, but I still needed to bleep out his identify in my video.)