After NFT was selected as the hottest keyword in 2021 last year, the NFT craze is getting stronger. These trends show the potential for NFTs to become more than just a fad, but an important paradigm changer.
Until now, most transactions in human history have been in real assets. Although there has been some recent digital file trading, this market has been very small. The reason is that files are easy to duplicate. But now that NFTs are possible, it is an era where all intellectual and digital assets on the Internet can be traded.
NFT can be defined in one word as “digital asset”. To trade these digital assets, we need a blockchain highway to create and move NFT assets. So far, the highways of blockchain have been Bitcoin, Ethereum, etc. Cryptocurrencies were traded on this highway, just like trucks, cars and vans running on this highway.
NFT transactions also traveled using a highway called Ethereum, but the traffic was too heavy and slow. So they realized they needed a new highway for NFT transport.
To this end, some companies put new highways next to Ethereum highways, which are called Side Chains, or sometimes Layer2 Chains. Representative highways created for the main purpose of the NFT movement are Star Net and Polygon.
Polygon was created by an Indian developer and is currently processing 5 million NFTs per day. In addition, we are securing new technology startups for development by attracting large-scale investments. Polygon has strengths in its fast processing speed and low NFT generation cost.
The biggest problem with these polygons is that they don’t provide a decentralized server. If you use polygons to create an NFT and make a transaction, you need to contract a server separately. In order to separately contract IPFS, which is often used by users in the block chain, separate study is required, and the cost is 20 times more expensive than Google Drive. These blockchain servers are mainly operated by small companies with low stability, and when these companies disappear, they disappear together as valuable NFTs.
Starnet is an OS that has emerged as a mainnet exclusively for NFTs while solving these problems with polygons. First of all, you can see that the processing speed is 2.5 times faster than that of polygon. In addition, Starnet provides a blockchain server by default, so there is no need to create a separate blockchain server. In addition, the servers are distributed and stored together in AWS, Microsoft’s Azure, and Google Drive, so NFT works are permanently stored as long as the three companies do not disappear at the same time. The server price is also provided at 1/3 the price compared to other blockchain servers. Starnet has many advantages, but compared to Polygon, the size of the company is not yet large.
Currently, the biggest problem with NFTs is the fraudulent act of selling other people’s works on the Internet as NFTs rather than their own. Star Net is an anti-fraud engine that provides a duplicate image filtering service.
The mainnet called Flow is taking on a new challenge for NFT conversion, but it seems to be showing problems in compatibility. To use Flow, you have to learn and write a language called Cadence, but it seems that it will not be easy for developers to learn a new language to use Flow. Also, even if you write in this language, the services you can provide are quite limited. Many functions can be implemented in the language called Solidity, which is already used in blockchain, but learning a new language with only limited functions does not seem easy.
It is difficult to predict which new platforms will dominate the market, but new platforms for NFT digital asset trading are rapidly emerging. It seems certain that it will evolve.