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feature: Native Nft Compatible Blockchain #3

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AnandK-2024 opened this issue Oct 20, 2023 · 0 comments
Open

feature: Native Nft Compatible Blockchain #3

AnandK-2024 opened this issue Oct 20, 2023 · 0 comments

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@AnandK-2024
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Key Requirements:

  1. Smart Contract Standard: Implement a standardized smart contract interface for NFTs.
  2. Tokenization: Enable the creation and issuance of unique tokens representing individual assets, each with distinct properties and metadata.
  3. Ownership and Transfer: Implement secure ownership tracking and enable seamless transfer of NFTs between users.
  4. Metadata Storage: Provide a mechanism to store and retrieve metadata associated with each NFT, including attributes, descriptions, and external links.
  5. Scalability and Performance: Design algorithm to handle a high volume of NFT transactions efficiently, ensuring fast and reliable token transfers.

Additional Considerations:

  1. Royalties and Secondary Sales: Implement mechanisms to support royalty payments to creators on secondary sales of NFTs, ensuring fair compensation for artists and content creators.
  2. Standardized Metadata Formats: Support widely adopted metadata formats, such as JSON or IPFS, to ensure compatibility with existing NFT metadata standards.
  3. Governance and Upgradability: Design a governance model that allows for community-driven decision-making and upgradability of the NFT blockchain protocol.

This feature will empower developers and users to leverage the full potential of NFTs within a native blockchain environment, fostering innovation, creativity, and new opportunities in the digital asset space.

Please feel free to provide any additional requirements or suggestions to enhance the native NFT compatibility of the blockchain.

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