Blockchain For Dummies
"What the internet did for communications, blockchain will do for trusted transactions." - Ginni Rometty, CEO of IBM
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"What the internet did for communications, blockchain will do for trusted transactions." - Ginni Rometty, CEO of IBM
Picture a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the blockchain.
This article offers a step-by-step guide on using Stellar, a distributed ledger technology that allows for building low-cost, fast financial services, to create a basic token system. The steps include creating two Stellar accounts, establishing a trustline between these accounts, locking the issuer"s account to prevent further token creation, and distributing the tokens. By following this guide, readers will gain a better understanding of the Stellar blockchain network and its mechanisms. The author suggests further exploration and application of the Stellar SDKs for those interested in developing more complex blockchain solutions.
A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files.