After being crowned the hottest term in 2021 last year, the NFT craze is growing. These discoveries suggest that NFTs may be more than a fleeting fad, but rather a substantial paradigm change.
To date, the bulk of transactions in human history has been in physical assets. Although some digital file commerce has lately happened, the market has been fairly small. This is due to the ease with which files may be copied. However, given that NFTs are a possibility, we are approaching an age in which all intellectual and digital assets on the Internet may be traded.
In a nutshell, NFT stands for “digital asset.” To trade these digital assets, we need a blockchain highway to manufacture and transport NFT assets. So far, Bitcoin, Ethereum, and other blockchain freeways have been utilized. On this highway, cryptocurrencies were swapped in the same way as trucks, vehicles, and vans were.
The Ethereum highway was also utilized for NFT transactions, but traffic was too heavy and slow. As a consequence, they found that NFT transportation would need the construction of a new route.
Several companies have developed extra roads alongside Ethereum highways, called Side Chains or Layer2 Chains, to achieve this goal. Two examples of highways developed for the main purpose of the NFT movement are Star Net and Polygon.
Polygon was created by an Indian developer and has a daily processing capacity of 5 million NFTs. Furthermore, we are looking for large-scale investments to acquire new technology enterprises for development. The benefits of Polygon include its rapid processing speed and low cost of NFT generation.
The most important shortcoming of these polygons is the absence of a decentralized server. If you use polygons to produce an NFT and perform a transaction, you must contract a server separately. A separate study is required to contract IPFS, which is often used by blockchain users, and the cost is 20 times that of Google Drive. These blockchain servers are generally maintained by small, unsecured firms, and when they go out of business, their prized NFTs go with them.
Starnet is an operating system that has emerged as a dedicated mainnet for NFTs, tackling these problems with polygons. For starters, the processing speed is 2.5 times faster than the polygon. Furthermore, Starnet comes pre-installed with a blockchain server, removing the need to set up a separate blockchain server. Furthermore, the servers are distributed and shared across AWS, Azure, and Google Drive, guaranteeing that NFT works are preserved indefinitely as long as the three companies do not go out of business at the same time. The server fee is also a third of what other blockchain servers charge. Starnet has a number of advantages, although its size is still tiny in contrast to Polygon.