Blockchain technology has the potential to revolutionize the way that people interact with each other and the things that they own. The way that we think about ownership is what’s changing, not necessarily the idea of owning something, because for centuries someone could own a book or a house or land. But now we are becoming increasingly connected by these assets, not just in reality but also virtually. And this NFT game for example, allows you to play and compete with other players and get rewarded with real valuable NFTs.

As more and more people around the world are starting to utilize blockchain technology, it has become evident that there are a few best blockchains. Solana is one of them. Solana is a scalable blockchain platform that runs on an off-chain state channel and can verify transactions at up to 5,000 TPS. Solana also has a great incentive system that encourages developers to build on top of their blockchain.

The blockchain is best known for being behind cryptocurrencies like Bitcoin and Ethereum, but it has an even wider range of applications than just as a payment system. It can be used for all kinds of different purposes, including tracking things across supply chains, managing identities online and even storing information on digital property. 

As with many things, the Ethereum price rise is largely attributed to hype and increasing awareness of the potential that BTC, ETH and other cryptocurrencies have to reshape the financial world. 

It’s this last use case in particular that interests us here: blockchain developers have started using it to store information regarding non-fungible items (NFTs), which can make them easier to track and manage.

Why Should You Use Blockchain For NFT Development?

1. Public ledger: NFTs are built on top of blockchains, so your digital assets will always be visible and publicly accessible

2. Security: as blockchains are designed to be secure, they could protect your digital assets from being stolen or lost

3. Decentralized verification: there is no need to rely on third parties to verify your transaction because it is made through a decentralized network of computers (called nodes)

What To Look For In A Blockchain for NFT Development

Choosing a blockchain for your NFTs depends on what you want to do with them. In this post, we’re going to focus on NFTs as a game element and talk about the essential factors to keep in mind in choosing a blockchain.

Transaction Speed

One of the most important is the transaction speed, which is a measure of how fast information can be recorded on a blockchain network and how quickly it can be confirmed by other users.

The transaction speed of Ethereum, for example, is on average 15 transactions per second. That might seem like a lot, but if you think about how many thousands or millions of users are engaging with your application, that limit can get swamped pretty quickly. As an example, CryptoKitties experienced an enormous surge in popularity when it launched, and soon users found themselves unable to create new kitties because the transactions were taking so long to confirm.

The same issue also affects game developers who want to include NFTs in their games: if there’s a delay before players can receive their items or transfer them to another player, they could become frustrated and quit. Ultimately, developers have to balance the benefits of different platforms against various factors such as transaction speed when they’re choosing a blockchain solution for their projects.

Transaction Cost

Another thing to consider when choosing a blockchain for NFT development is transaction cost. The blockchain you choose will impact your bottom line and in the long-run, business model, which ultimately impacts the success or failure of your project.

A low transaction cost can mean lower overhead costs and thus more profit, which may be significant for businesses looking to make an NFT transfer more than once. After all, if you were planning on making multiple NFT transfers throughout the course of your business, it would be a smart idea to choose a blockchain with low transaction costs so as not to put a strain on your budget.

Security

Security is the most important factor, since all NFTs will be digital, and thus more susceptible to hacking than in-person transactions. As such, any blockchain worth using should be built on the latest, most secure technology and have a reliable history of security. 

For example, EOS is state-of-the-art in terms of speed and security, but it’s crucial that you use it only with a solid smart contract—especially if you’re developing an NFT. 

The security of your blockchain should be one of your top priorities as you develop DApps on top of it. It’s essential that you assess the security measures that are already in place on the blockchain. A secure blockchain should have different levels of encryption, such as private keys, API keys, authentication protocols, etc., to ensure unauthorized access isn’t possible.

Scalability

Scalability is a major factor in any blockchain, and it’s no different for NFTs. It’s important to look at the scalability of a blockchain before deciding to develop an NFT on that particular network, as it can impact the success of the token.

Blockchain platforms like NEO and Ethereum both use a consensus model called Delegated Byzantine Fault Tolerance (dBFT), which gives a lot of power to users who then become responsible for verifying transactions on the blockchain. 

This allows the nodes to scale more easily than on other blockchains that use proof-of-work (PoW) or proof-of-stake (PoS) models, which require all nodes to verify transactions. In dBFT, only a select few nodes verify transactions, so the platform doesn’t need as much computing power from its users..