I just install Reddit official app to see watch they offer. And holy cow. They are selling NFT-like stuff.
Instead make a better app, they give use this.
this post was submitted on 27 Jul 2023
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The thing I don't get is that, afaik, there's no real limitation on the size of the nft. To my knowledge there's nothing stopping you from making a Blockchain that supports full images in each nft. However, instead they decided to sell receipts.
Blockchain is very limited when it comes to storage. Bitcoin for example, is limited to grow by 1MB every 10th minute. That’s 1MB for all users globally. Other blockchains allows for plenty more, but still enough to store entire images.
The reason why there are limits is because it’s supposed to be possible for anyone to download the entire blockchain to their computer and verify. This is not practical if the blockchain becomes 100TB or so.
Mostly because hosting an image within the blockchain would require so much computational power and excess energy usage, that it wouldn’t be profitable even for the most successful scams.
And I’m not sure whether calculating proof of work for a blockchain that holds images within is even possible using the current algorithms. But I’ve looked at it a while ago, could be that some updated system already exists. But it’s still very much not free, and quite damaging environmentally.
Ah, thanks for the explanation!