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The ERC-721 Non-fungible Token Standard is a technical framework, defining a set of rules and interfaces for creating and managing unique, non-fungible tokens (NFTs) on the Ethereum blockchain. [ 1 ] [ 2 ] [ 3 ] ERC-721 is recognized for formalizing the concept of an NFT and establishing the foundation of the multi-billion dollar digital ...
Ethereum-based permissioned blockchain variants are used and being investigated for various projects: In 2017, JPMorgan Chase proposed developing JPM Coin on a permissioned-variant of Ethereum blockchain dubbed "Quorum". [87] It is "designed to toe the line between private and public in the realm of shuffling derivatives and payments.
Will Warren and Amir Bandeali began the development of the project in 2016, and on February 22, 2017, they released a white paper with the following abstract: [3] We describe a protocol that facilitates low friction peer-to-peer exchange of ERC20 tokens on the Ethereum blockchain. The protocol is intended to serve as an open standard and common ...
The Ethereum blockchain popularized smart contracts, which are the basis of DeFi, in 2017. Other blockchains have since implemented smart contracts. MakerDAO is a prominent lending DeFi platform based on a stablecoin that was established in 2017.
Solidity is the primary programming language for developing smart contracts on the Ethereum Virtual Machine (EVM). [32] However, Rust has emerged as a strong alternative in the blockchain ecosystem, especially for blockchains that support WebAssembly (Wasm), such as Polkadot, Klever and Solana.
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Polkadot was created by the Ethereum co-founder Gavin Wood, [1] Robert Habermeier and Peter Czaban. [2] The white paper for Polkadot was published by Wood in 2016. [2] The Polkadot SDK and other core technology components are being developed by Parity Technologies. The project raised over $144.3 million in its Initial coin offering in October ...
Tokens can be created as native elements of a blockchain protocol, or by using a smart contract that is deployed on a blockchain which will host the new token. [5] For example, Ether (ETH) is the native crypto asset of the Ethereum blockchain, and was created by the core Ethereum developer team to incentivise proper maintenance of the blockchain.