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NFT misconception: JPEG aren't stored on the Blockchain

erickhun.com

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Re: NFT misconception: JPEG aren't stored on the Blockchain

#21

Post by arcticbull »

quotemstr wrote: post #15
arcticbull wrote: post #8

Earlier quoted context omitted.

Even if it is, you can't really reconstitute the image from the SHA. I mean, unless we just created a new proof of waste algorithm.

You can't rebuild the image from the hash, but you can query various content-addressed stores for the image, potentially letting proof-of-space cryptocurrency systems do double duty as both verifiable resource commitments and repositories of blockchain external data.

Proof of wasted space. Proof of space algorithms just fill hard drives with garbage.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#22

Post by Dylan16807 »

arcticbull wrote: post #8
hoten wrote: post #5

Earlier quoted context omitted.

Wait, is this not how it works? Seemed like a safe assumption...

Even if it is, you can't really reconstitute the image from the SHA. I mean, unless we just created a new proof of waste algorithm.

Reconstitute no. Get yes. A hash is much better than an average filename is much better than somesite/NFT_4556.jpg

Re: NFT misconception: JPEG aren't stored on the Blockchain

#23

Post by fshbbdssbbgdd »

mastazi wrote: post #10

I'm very surprised that those (the JSON and the picture) are not stored in a decentralised way e.g. IPFS or Swarm. So if I buy an expensive NFT, and the domain goes down, the NFT is now worthless? We should be on the lookout for any of these domains expiring, then we will buy them and upload Rick Astley GIFs

There’s a popular genre of NFTs which consist of a recording of some physical object (often a painting) being destroyed. So perhaps we should create an NFT which represents the stranding of other NFTs through hacking. We could upload the logs from the shell showing us deleting everything.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#24

Post by Fckd »

forgotmyoldname wrote: post #20

So how exactly is the "gas money" calculated? I was led to believe it was expensive because putting all that data into the blockchain costed a significant amount. Asking because, wanting to verify whether NFTs were really a scam or scheme instead of just following heated Twitter arguments, I looked into uploading my own NFT. Gas money for a single image was $250--estimated earnings for an NFT are in the low dollars f…

Of course its a scam. all are fuelled by cheap printing press

Re: NFT misconception: JPEG aren't stored on the Blockchain

#25

Post by quotemstr »

arcticbull wrote: post #21
quotemstr wrote: post #15

Earlier quoted context omitted.

You can't rebuild the image from the hash, but you can query various content-addressed stores for the image, potentially letting proof-of-space cryptocurrency systems do double duty as both verifiable resource commitments and repositories of blockchain external data.

Proof of wasted space. Proof of space algorithms just fill hard drives with garbage.

Better than continuously burning electricity, yes? And if the stored data is actually useful, is the net result all that bad?

Re: NFT misconception: JPEG aren't stored on the Blockchain

#26

Post by renewiltord »

quotemstr wrote: post #18
renewiltord wrote: post #9

Earlier quoted context omitted.

No. The value in the thing is in the key that minted it. Think of it like a signed baseball: easy to replicate, but the original is worthwhile.

Sure. But a hash is so easy to compute and store that there's really no excuse for not including one.

I don’t understand. What purpose does the hash provide?

Re: NFT misconception: JPEG aren't stored on the Blockchain

#27

Post by Dylan16807 »

arcticbull wrote: post #21
quotemstr wrote: post #15

Earlier quoted context omitted.

You can't rebuild the image from the hash, but you can query various content-addressed stores for the image, potentially letting proof-of-space cryptocurrency systems do double duty as both verifiable resource commitments and repositories of blockchain external data.

Proof of wasted space. Proof of space algorithms just fill hard drives with garbage.

If they store images instead then it's not garbage.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#28

Post by IceWreck »

NFTs are such a sham to claim fake "ownership" of an asset. All the images/files are public anyways.

Nothing stops me from creating another blockchain and call it NFTv2. And then I can create an NFT which points to the original asset. Its just as legit as the Etherium one.

Or just change the link to the same file and create an NFT on the Etherium blockchain.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#30

Post by robertlagrant »

hoten wrote: post #5
m0sa wrote: post #4

I'd expect at least a hash of the image to be stored on the blockhain..

Wait, is this not how it works? Seemed like a safe assumption...

Yeah it's an encrypted thing pointing to a URL which has a JSON file in it that contains a URL of an image.
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