Blockchain has been a hot topic in recent weeks. This technology is at the heart of cryptocurrencies.
The very first blockchain database was created by an anonymous genius (or more) under the pseudonym Satoshi Nakamoto, to develop Bitcoin in 2009. Since then, blockchain has not only supported a large number of cryptocurrencies, but also fertile ground. for industries such as NFTs and Metaverse.
Blockchain, an unchanging technology
Blockchain is the digital form of a ledger that stores all operations and transactions as “blocks” on a public database network called a “chain”. This network is connected via peer-to-peer “nodes”. Every transaction that takes place on a blockchain is approved by the owner’s digital signature. From then on, this transaction is stored in the register in the form of a block that protects it from any counterfeiting. The unchanging nature of the blockchain is one of the things that made the creation of NFTs (non-fungible tokens) possible.
The very first NFT was created in 2014 by digital artist Kevin McCoy. But the technology was first made available to the public in 2017. In that year, a set of token standards was released, making tools for creating NFTs available to developers. The real revolution came, however, when NFTs began to trade and gain real speculative value such as the art market or the market for collecting rare items. Platforms like OpenSea, magic oathand Mediacoin has helped make blockchain a thriving place for content creators by simplifying the process of selling and buying NFTs.
Currently, many content sharing platforms are available for artists and digital creators (BeHance, DeviantArt, Dribbling…), But none of them offer creators as many benefits as NFT marketplaces.
Issues such as plagiarism and restrictions imposed by intermediaries go hand in hand with traditional platforms.
Conversely, blockchain-driven marketplaces offer transparency and immutability. Thus, with blockchain platforms, creators can sell their art or any other digital file like NFT.
As the Internet evolves into a new Web 3.0 version, digital communities are evolving from the “social web” to the “creator’s web.” The world has certainly begun to accept blockchain and decentralization as enabling these advances.
Decentralization is a feature that facilitates the free flow of ideas. Anyone can sell original content to the highest bidder. Likewise, a buyer can choose from the many content providers on the blockchain.
The strength of the community
The heart of blockchain-powered platforms is their community. All that remains is to make the public aware of the benefits of decentralization.
“As long as people are on this planet, there will always be a demand for content. It is therefore imperative to build solutions that encourage content creators to rely on blockchain technology. “- Sergey Sevantsyan, CEO of Mediacoin.
Achieving decentralization that is useful and profitable for creators, users, and platforms is not easy. The priority task of blockchain companies is to connect the real world and the digital world, while building trust between the various actors.
In the end, the winners will be the ones who manage to capture and hold the attention of the users. In blockchain reality, it is the users who make the decisions.