What is the difference between Ethereum NFT and Bitcoin NFT?
- Bitcoin's NFT essentially involves attaching arbitrary data to the smallest unit of Bitcoin, called "satoshi", while Ethereum's NFT does not require any attachment, as arbitrary data itself is the NFT asset.
- Bitcoin's NFT relies on "satoshi", which is 1/100 millionth of a bitcoin, so even if the attached data (NFT) has no value, at least the satoshi can still be used as gas fees or worth one hundred millionths of the price of a single bitcoin. On the other hand, Ethereum's NFT cannot be used as gas fees, and if the NFT price drops to zero, it loses its value.
- Bitcoin's maximum supply is 21 million, meaning that there can only be a maximum of 21 quadrillions "satoshi" in existence, so the total number of Bitcoin NFTs is limited, while the number of NFTs or tokens on Ethereum has no limit.
- In addition to these differences, there are many other differences between Bitcoin and Ethereum's NFTs, and the core reason for these differences is that Bitcoin does not support smart contracts, while Ethereum's programming language, Solidity, supports writing smart contracts.
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