Did you know?Most crypto tokens utilize Blockchain technology. Bitcoin was the first application of the blockchain. It mainly used blockchain technology for payments and transfers of a single digital currency: bitcoin (note the lowercase b, used to designate the currency, and uppercase for the network), and wasn’t made for running code applications (Smart Contracts or Dapps, as they are also called).The Ethereum blockchain was created in 2015 by Vitalik Buterin to let anyone “write smart contracts and decentralized applications (Dapps)” that run on a single supercomputer made up of thousands of decentralized computers.
Fungible vs. Non-Fungible The word “fungible” is used to refer to things that can be exchanged for other things of exactly the same kind. For example, the U.S. dollar is fungible. You can exchange a $100 bill with a friend, and each of you will still have the exact same spending power. Most cryptocurrencies are fungible, too — a bitcoin is a bitcoin, and it generally* doesn’t really matter which bitcoin you have. (*in some cases, such as stolen coins, identification of a specific bitcoin can be relevant when trying to trace the path of a stolen asset).NFTs on the other hand, like most things in the physical world, such as cars and houses, are considered non-fungible. They have unique qualities, and you can’t just exchange them for others of the same type. You can swap your 2022 Tesla with your friend’s 2022 Tesla, but the cars wouldn’t exactly be the same.