LeoGlossary: Digital Artifacts (Bitcoin)

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*Digital Artifacts are non-fungible tokens (NFTs). All digital artifacts are NFTs. At the same time, now all NFTs are digital artifacts.

We can think of a digital artifact as a NFT but held to a higher standard.

To qualify, a NFT has to be:

decentralized immutable on-chain unrestricted

Most NFTs are housed on centralized servers meaning admin can control not only access but remove them if desired. Here is where immutability goes out the window. Obviously, for those that are created using smart contract on chains that are centralized, we can see an immediate problem. Off-chain storage also means the data can be lost.

The EVM chains obvious got a jump on NFTs by creating them via the smart contract technology. The issue with this is that each contract has to be reviewed. On Bitcoin, it is all native.


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