ERC-721

On the Ethereum blockchain, a technical standard known as ERC-721 establishes the guidelines for producing and administering non-fungible tokens (NFTs). ERC-721 tokens are different and indivisible, unlike ERC-20 tokens, and they stand for discrete assets with unique features and ownership.

The use of NFTs based on the ERC-721 standard to represent digital artwork, collectibles, virtual properties, and other special goods on the blockchain has grown in popularity.

More Definitions

Escrow

Escrow is a term used to describe a financial arrangement in which a dependable third party keeps and manages money or other assets on behalf of two parties involved in a transaction. To provide security and lower risks for both parties, the monies are held in escrow until particular criteria or requirements are satisfied.

Etherscan

A popular blockchain explorer and analytics application created exclusively for the Ethereum blockchain is called Etherscan. On the Ethereum network, it enables users to look up, view, and validate transactions, smart contracts, and addresses.

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