#How to deal with non-fungible tokens or any other digital assets using efficient blockchain solutions
#Introduction to blockchain technology
Blockchain is a decentralized database that is shared and synchronized amongst nodes of a computer network and operates without the need for central authority. The network must be open, publicly accessible to multiple people and transparent, and its content must be at hand for validation at all times with the help of reliable mathematical calculations.
Instead of being closed within a single database, as is the case with centralized systems, files and information are diversified throughout the blockchain and made available to as many computers connected to a common peer-to-peer network as needed. The blockchain ensures that the data stored in there is virtually immutable and properly verified. Once recorded, the data can no longer be altered or deleted.
#Potential issues
Blockchain performance is often directly correlated with the number of active computers (nodes) within the network and the number of validated blocks that hold sets of information. The more blocks, the better the data is protected, because more blocks are harder to falsify. This solution may seem stable and sustainable, but it is far from perfect, mainly for the following reasons:
  • Inadequate mathematical methods are used to validate transactions, which unnecessarily burden the entire blockchain system and make it more complex and expensive than it should be.
  • The validation process is inevitably accompanied by a number of important topics open for discussion, such as high costs, inability to record large amounts of data, environmental challenges, huge energy consumption, vulnerability to illegal distribution and sales, and more.
  • Any network failure could potentially compromise the security and integrity of the data stored in the blockchain, while the credibility of the blockchain itself would be irreparably damaged.
Let's confront the facts head on and try to find a solution accordingly. We will start with a simple example that illustrates the analogy between blockchain performance and the physical world.
#Set out for the future of creating authentic digital assets
The greatest value of a digital asset, such as a non-fungible token, lies in its authenticity, irreplaceability, traceability and uniqueness. Telinov8 Network is able to verify the authenticity and integrity of data independently of external sources and regardless of external changes that may occur in the meantime.
#Telinov8 Network is a simple and reliable blockchain solution with up to three nodes connected to a common peer-to-peer (P2P) computer network that operates without the need for central authority. The data that is transmitted and shared throughout the blockchain is referred to as a digital message. This technology is primarily adapted to dealing with NFTs (non-fungible tokens) or any other digital assets including, but not limited to images, photos, animated GIFs, songs, movies or e-books.
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