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Research Article

EEO. 2021; 20(2): 2649-2658


Nft As New Financial And Digital Security: A Theoritical Perspective

Dr. Mohit Kumar Ojha, CA Priti Sharma, Mohd. Saad Siddiqui, DR. Rajesh Kumar Upadhyay.




Abstract

Satoshi Nakamoto advocated blockchains and proof-of-work to prevent bitcoin counterfeiting. Computers had to solve difficult arithmetic problems to upload only legitimate blocks to the blockchain before creating a new bitcoin. This system is built on Bitcoin, a digital currency. How about using the shared vision system's collectibles to develop something even better? All digital assets are fungible, meaning they may be traded. Because of this, the products in our collections cannot be swapped in real life. Encrypting these values created NFTs (non-fungible tokens). This paper seeks to explain the history and present uses of NFTs. The study will also examine NFTs' pros and cons in different circumstances.

Key words: blockchain, bitcoin, digital currency, digital assets and non-fungible tokens.






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The articles in Bibliomed are open access articles licensed under the terms of the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (https://creativecommons.org/licenses/by-nc-sa/4.0/) which permits unrestricted, non-commercial use, distribution and reproduction in any medium, provided the work is properly cited.