NFT Project

Layer-1 vs. Layer-2 Blockchains: What You Must Know

Bitcoin did the heavy lifting of creating a peer-to-peer decentralized and tokenized financial network. One person can send another person halfway around the world $1,000,000 in BTC for a paltry $20, sometimes even as low as a dollar and change.  The problem is that microtransactions, such as sending a friend $4 for a cup of …

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What is a Rug Pull in Cryptocurrency?

A rug pull is a type of scam where the team of a cryptocurrency project suddenly exits the project, running away with investors’ funds. Rug pulls occur particularly often on decentralized exchanges (DEX) and in the NFT world.   DEXs allow users to trade cryptocurrencies without intermediaries; well-known examples include Uniswap, Balancer, and PancakeSwap. There is …

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Perceptual Hashing For NFT Verification

In providing accurate NFT verification services, neither humans nor computers are sufficient. However, using a technology called perceptual hashing, mountainous digital files can be reduced to perceivable attributes such as shapes, patterns, and colors that can easily be compared by both humans and computers. By combining perceptual hashing with human verification, NFT verification services can …

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NFT verification

How Are NFTs Authenticated?

The NFT concept is new to most; the term “non-fungible token” skyrocketed into the mainstream from relative obscurity within an esoteric group of cryptocurrency aficionados.  The script changed in early 2021: NFT collectors suddenly started spending thousands to sometimes millions of dollars to buy various JPEGs and GIFs on the Internet.  With so much money …

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