Non-Fungible Tokens (NFT)
By CoinGecko | Updated on May 28, 2020
They are collectible elements within the Ethereum blockchain under ERC-721, where each token refers to a single element with a certain value. They represent something unique and therefore does not have the mutual interchangeable value. In other words, no non-fungible token is the same. The most popular is CryptoKitties, but there are many others.
Related Terms
Whitepaper
An introductory paper to consicely explain an issue and a possible solution on the issue.
Decentralized
A system where there are no centralized points of failure or organization with no central authority figure.
EIP (Ethereum Improvement Proposal)
Refers to improvement proposals for Ethereum, used to introduce features or any updates on the Ethereum network.
Gas Price
A term refers to the amount of price user is willing to pay for a transaction on Ethereum blockchain.
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