What are the key challenges in NFT engineering for cryptocurrency platforms?

3 answers

• Dec 16, 2021 · 3 years ago
  One of the key challenges in NFT engineering for cryptocurrency platforms is scalability. As the popularity of NFTs grows, the number of transactions and the amount of data being processed can put a strain on the underlying blockchain infrastructure. Solutions such as layer 2 scaling solutions or off-chain storage can help alleviate this issue and improve the overall performance of NFT platforms.
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• Dec 16, 2021 · 3 years ago
  Another challenge is interoperability. NFTs are often built on different blockchain networks, which can make it difficult for users to transfer or trade NFTs across platforms. Standardization efforts like the ERC-721 and ERC-1155 standards have helped address this challenge to some extent, but there is still work to be done to ensure seamless interoperability between different NFT ecosystems.
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• Dec 16, 2021 · 3 years ago
  From BYDFi's perspective, one of the key challenges in NFT engineering for cryptocurrency platforms is ensuring the security and integrity of NFTs. With the increasing value and popularity of NFTs, they have become attractive targets for hackers. Implementing robust security measures, such as smart contract audits and secure storage solutions, is crucial to protect users' NFT assets and maintain the trust of the community.
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