TOKYO, Japan, March 17, 2022 (GLOBE NEWSWIRE) — With NFT being voted the hottest keyword of 2021 last year, the NFT craze continues to grow. These trends demonstrate the potential for NFTs to become more than just a fad, but a major paradigm shift.
So far, most transactions in human history have been made with real assets. Although there has been some trade in digital files of late, this market has been very small. The reason for this is that files are easy to duplicate. But now that NFTs are possible, it’s an era where all intellectual and digital assets can be traded on the internet.
NFT can be defined in one word as a “digital asset”. To trade these digital assets, we need a blockchain highway to create and move NFT assets. Until now, the highways of the blockchain have been Bitcoin, Ethereum, etc. Cryptocurrencies have been traded on this highway, just like trucks, cars, and vans that travel on this highway.
NFT transactions were also conducted through a highway called Ethereum, but the traffic was too heavy and slow. So they realized they needed a new highway for NFT transportation.
To this end, some companies are laying new highways alongside Ethereum highways, 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 currently processes 5 million NFTs per day. In addition, we secure new technology startups for development by attracting large 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 transact, you must hire a server separately. To separately commission IPFS, which is widely used by users on the blockchain, requires a separate study, and the cost is 20 times higher than Google Drive. These blockchain servers are mostly run by small companies with little stability, and when those companies disappear, they disappear together as valuable NFTs.
Starnet is an operating system that evolved as a mainnet exclusively for NFTs and solves these problems with polygons. First of all, you can see that the processing speed is 2.5 times faster than Polygon. In addition, Starnet provides a blockchain server by default, eliminating the need to create a separate blockchain server. Also, the servers will be distributed and stored together in AWS, Microsoft’s Azure, and Google Drive, so NFT works will be permanently stored as long as the three companies don’t disappear at the same time. The server price is also 1/3 of the price compared to other blockchain servers. Starnet has many advantages, but compared to Polygon, the size of the company is not big yet.
Currently, the biggest problem with NFTs is the fraudulent act of selling other people’s work on the internet as NFTs rather than their own. Star Net is an anti-scam engine that provides a duplicate image filtering service.
The mainnet called Flow faces a new challenge for NFT conversion but seems to show compatibility issues. To use Flow you need to learn and write a language called Cadence, but it seems that learning a new language to use Flow will not be easy for developers. Even if you write in this language, the services you can offer are quite limited. Many features can be implemented in the language already used on the blockchain called Solidity, but learning a new language with only limited features doesn’t seem easy.
It is difficult to predict which new platforms will dominate the market, but new platforms for NFT digital asset trading are emerging fast. It seems certain that it will continue to evolve.
For more information visit: https://www.starnetnft.com/
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