Blockchain is a decentralized, secured database technology. This means that the blockchain allows for the information on them to be permanent. It’s a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system and simply put is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.
An asset can be tangible (artwork, content, files, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved. NFTs are one piece of data that can be tracked, stored, and moved between users with the power of blockchains.
While any conventional database can store this sort of information, blockchain is unique in that it’s totally decentralized. Rather than being maintained in one location, by a centralized administrator — think of a spreadsheet or a bank database — many identical copies of a blockchain database are held on multiple computers spread out across a network.
How Does It Work
Livetree is built and integrated with Moonbeam, Moonriver, Polkadot, Celo and Ethereum blockchains.
