With the new found hype over NFTs and digital art. A blind eye has been casted over, what really is a non fungible token? A NFT or Non Fungible token has a different standard then a crypto token or crypto currency coin/token. Which is all the same but what makes them different is what makes them work in the the first place. Or how is a crypto currency or token made in the first place.
The functions and design that makes up these token or coins are the coding of the smart contract behind the coin or token. So let put in a simple imaginative way, like ok lets say a contract that you know of or heard of is a whole bunch of paper and typed words that have all type of deals and agreements in them. But contract are written out so that two parties agree to to terms in the contract.
So ready to get confused?
A smart contract is basically all them pages, words, agreements, legalities and etc. Basically the smart contract is all that in one. The token now represents the agreement stated in contract as a receipt or to how ever you design it.
Wasn’t that simple. Lol but please don’t just take my evaluation of it, that how I see it to help me understand the technicalities of it all.
TO BE CONTINUED ….
