[EGreg]

Someone tell me why you need the Ethereum blockchain for NFTs when you can just have non-divisible coins represent them, and be watched by a subset of the network instead of the whole network. I mean this is like transporting a beanie baby inside an armored truck with a convoy.

It’s not like we need the history of all UTXOs ever, the coin may have changed hands like 100 times max, so it has an easily checked history. Same principle on Ethereum.

[dmitryminkovsky]

> I mean this is like transporting a beanie baby inside an armored truck with a convoy.

If I understand correctly, this is what sidechains are about? https://github.com/memo/eco-nft#still-using-ethereum.

[EGreg]

I like this section better:

Using other blockchains:

Instead of Ethereum, other blockchains are used. This can be up to hundreds of times better for the environment in terms of carbon footprint. Some of these chains include Algorand, Tezos, Polkadot and other PoS networks.

[dmitryminkovsky]

Yeah, but then isn't there a risk of any such network becoming popular and then you've got the same problem as with Ethereum?

[EGreg]

Not at all, unless the network has a global bottleneck like a miner. Networks built on global blockchains are the problem. And if they use proof of work that’s even worse!

[dmitryminkovsky]

Oh I didn’t see PoS there. I didn’t know there were such networks out there in production.

[intotheabyss]

Just a small point, Ethereum uses an account based system, not UTXOs.

Also, NFTs are built on the ERC721 standard, which is a contract standard that allows composability between different NFTs and contracts.