Blockchain has been a hot topic in recent weeks. This technology is at the heart of cryptocurrencies.
The first blockchain database was created, by an anonymous genius (or several) under the pseudonym of Satoshi Nakamoto, to promote Bitcoin in 2009. Since then, the blockchain has become not the only support for many cryptocurrencies, but also fertile ground for industries such as NFTs and the Metaverse.
The blockchain, an immutable technology
Blockchain is the digital form of a ledger that stores all operations and transactions as “blocks” in a public database network called a “chain”. This network is connected through peer-to-peer “nodes”. Every transaction that occurs on a blockchain is authorized by the digital signature of the owner. Since then, this transaction is stored in the register in the form of a block that protects it from any forgery. The immutable nature of the blockchain is one of the factors that makes it possible to generate NFTs (non-fungible tokens).
The first NFT was made in 2014 by digital artist Kevin McCoy. But the technology wasn’t available to the public until 2017. That year, a set of token standards were made public, making the tools for making NFTs accessible to developers. However, the real revolution came when NFTs started selling and getting real speculative value like the art market or the market for collecting unique items. Platforms such as OpenSea, magic edenand Mediacoin helped make the blockchain a thriving space for content creators by simplifying the process of selling and buying NFTs.
Currently, there are several content sharing platforms available for artists and digital creators (BeHance, DeviantArt, Dribbling…), but none of them offer creators as many advantages as NFT markets.
Issues such as plagiarism and bans imposed by intermediaries go hand in hand with traditional platforms.
In contrast, blockchain-driven markets offer transparency and immutability. With blockchain platforms, creators can thus sell their art or any other digital file as NFT.
As the Internet becomes the new version of Web 3.0, digital communities are simultaneously evolving from the “social web” to the “creator’s web”. The world is definitely starting to accept blockchain and decentralization as factors in this growth.
Decentralization is a feature that accelerates the free flow of ideas. Anyone can sell the original content to the highest bidder. Also, a buyer can choose from multiple blockchain content providers.
The strength of the community
The heart of the blockchain-powered platform is their community. What remains is to inform the general public of the advantages of decentralization.
“As long as people are on the planet, there is always a need for content. So there is a need to create solutions that inspire content creators to rely on blockchain technology. – Sergey Sevantsan, CEO of Mediacoin.
Achieving decentralization that is efficient and effective 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 creating trust between different actors.
In the end, the winners are those who are able to capture and retain the attention of users. In the reality of the blockchain, it is the users who make the decisions.