Blockchain: Myths and Facts about the Popularization of Technology

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Metaverse and the NFTs are among the most talked about topics in recent months, we can attribute this expressive increase in interest to the involvement of many celebrities and companies, which began to invest heavily in new technologies.

But the fact is that all this movement towards these technologies has made it even more focused on technologies called Web3, which proposes a decentralized internet. But the main point is that all these concepts are born from the same premise, the blockchain.

This technology has been pointed out for years as one of the biggest trends in the market, revolutionizing everything from the financial system to entertainment.

With all the speculations that surround the technology, many doubts arise, so we list some myths and truths about blockchains and the technologies linked to it.

Blockchain Myths

Blockchain networks are destroying the environment:

This is one of the biggest myths related to blockchains and NFTs. It is a fact that the creation of tokens requires high energy consumption, but tokens are only a small part of the network.

The first point to consider is that most of the energy consumed during the process comes from renewable sources. The second point is that, currently, most NFT marketplaces are using eco-friendly blockchains, from creation to commercialization.

NFTs are a bubble:

With the advancement of technology popularization and mass acceptance, it is normal for people to raise this type of question, as the values of some projects may increase more than they should, but this fact does not automatically turn the technology into a bubble.

We have to consider that popularization is something extremely important and necessary for the development of NFTs, it is what will attract people to this universe. NFTs brought the concepts of scarcity and exclusivity to the digital environment.

Tokens are just expensive images:

The first point to consider in light of this statement is that tokens are much more than images, they are smart contracts with storage capacity in decentralized databases.

Tokens present a complex formula, capable of attributing scarcity and exclusivity to digital assets.

When we think of a physical work of art, we know that its value will be subjective, the same happens with collectible NFTs, the market has a price, regardless of whether the medium is digital or physical.

Evolução da segurança da informação de ativos digitais e criptográficos

Blockchain Facts

NFTs cannot be copied:

In fact, no NFT can be copied. You can even copy the NFT image, but it is impossible to copy the NFT itself, as it has a “specific serial number”, based on a complex formula that guarantees its decentralized storage on the blockchain.

To exemplify, imagine that you went to a museum and took a photo of an extremely valuable painting, the fact that you have the photo does not make you have the painting itself, it will just be an invalid photo, the same concept is applied to the NFTs.

Metaverse is driven by tokenization:

The term metaverse has been around for some time, but it has gained more strength in recent times driven by NFTs and cryptocurrencies, as it is now possible to have a functioning economy in the virtual world. The NFTs were the missing piece to make it real.

NFTs are just beginning:

This is one of the greatest truths that we can consider, the advancement and popularization of this technology only tends to grow and evolve. It is already expected for 2022 that many companies will adopt the technology for its functionality.

Tickets in the form of NFTs and their use in the real estate market are already a reality. The forecast is that NFTs will become even more accessible, making it easier for the population to use.

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