If you've ever seen the term and asked yourself, 'what is staking crypto?', we're here to help.
Staking crypto is an excellent method to make passive income from your crypto assets. The profits might especially appeal to people who have already invested a considerable amount of their net worth in cryptocurrency. 

In crypto, there are two basic consensus mechanisms: proof of work (PoW) and proof of stake (PoS). The role of consensus mechanisms is to assure the legitimacy of transactions. An additional block is added to the blockchain if a transaction is authorised. These protocols safeguard the network.
PoW systems safeguard networks by utilising computational power and do not enable crypto to be staked. PoS methods, on the other hand, maintain security through verifiers that tie up crypto — or stake it, as the term staking crypto implies. The validators are compensated for staking crypto to safeguard the network. 

Few cryptocurrency owners can become validators. This is owing to the high value of necessary crypto holdings and the requirement for hardware infrastructure with appropriate processing power. However, there are crypto-staking solutions with lower entrance hurdles.  

## How to Stake - What is Staking Crypto?

There are other staking pool alternatives available, including P2P Validator and Staking. These platforms provide cryptocurrency staking solutions that "pool" crypto assets from many participants. This implies that the quantity of cryptocurrency needed to stake is less than if a person became a validator individually. 
Exchanges are the most accessible and straightforward way for many crypto holders to stake their coins. Some of the top cryptocurrency exchanges, including Coinbase and Binance, provide crypto staking services.  

Coinbase compensates its members just for keeping a certain number of specific cryptos in a wallet, with dividends ranging from daily to quarterly. The staked cryptocurrency does not even need to be acquired through the [Coinbase](https://www.coinbase.com/) exchange.  
Binance is one of the most comprehensive cryptocurrency staking platforms. In most cases, it has more than 112 tokens that may be staked from one to four months. 

PoS cryptos are the only ones that can be staked. [Ethereum (ETH)](/coins/eth), Polkadot (DOT), Solana (SOL), NEAR Protocol (NEAR), Cardano (ADA), and Tezos are among the most popular and regularly staked cryptos (XTZ). 

## What is Staking Crypto - The Benefits

Cryptocurrency may be safely stored in a wallet, and ownership can be preserved throughout the crypto staking process. Staking cryptocurrency also gives benefits for confirming transactions and safeguarding the network.  
This reward is a percentage return, akin to a dividend or interest on a checking or savings account. The return varies depending on the cryptocurrency invested, but, in all cases, it is far larger than the yearly percentage returns that consumers obtain from traditional banks. 

The greater the amount of cryptocurrency staked, the greater the possible benefits. Those with substantial crypto holdings can thus become exceedingly wealthy through staking. It is a good method of wealth creation for long-term holders of PoS crypto assets. It may be quite profitable if done correctly. 
 
## Is Staking Crypto Safe?

The regular fluctuation of cryptocurrency prices is one disadvantage. As previously said, the yields generated will be determined by the crypto token. Volatile cryptocurrencies can provide bigger profits, but this comes with the danger of the underlying token's price falling.  
The recent Terra LUNA token crash, which resulted in billions of dollars in losses, illustrates this.

Some forms of crypto staking require assets to be locked up for a specific amount of time, which means no action can be performed even if the price of the cryptocurrency falls. Liquidity pool hacking might potentially result in the entire loss of the crypto tokens invested.

## Final verdict 

Staking cryptocurrency has both good and bad effects. For risk-takers, the potential of significant returns for little to no effort makes the venture viable. However, for the ordinary crypto investor, exchanges remain the greatest option for crypto staking.

Whether or not to what is staking crypto will depend on an individual's attitude towards risk. Crypto earners averse to risk may prefer to preserve the ownership of their assets. On the other hand, risk-takers would be more than happy to stake their crypto for higher potential returns.
Other risks include staking pools being hacked, which can result in total loss of the crypto asset staked.


What is Staking Crypto?

Cosmos crypto is a network of numerous autonomous blockchains known as zones.
The zones are driven by [Tendermint](https://tendermint.com/) BFT, which provides a high-performance, reliable, and secure PBFT-like consensus engine with stringent fork-accountability guarantees over malicious actors' behaviour.

Tendermint BFT is an excellent choice for scaling public proof-of-stake (PoS) blockchains.
Cosmos crypto is a multi-asset PoS cryptocurrency with a simple governance system that allows the network to adapt and update.

## Functions of Hubs and Zones 

The Cosmos crypto network's Hub and zones connect through an inter-blockchain communication (IBC) protocol, which is like a virtual UDP or TCP for blockchains.

Tokens may be moved securely and swiftly from one zone to another without the requirement for liquidity exchange. All inter-zone token transactions are instead routed through the Cosmos Hub, which maintains track of the total number of tokens owned by each zone.

Each zone is separated from the non-success of other zones by the hub. Zones provide future compatibility with new blockchain breakthroughs since anybody may connect a new zone to the Cosmos Hub. 
This design addresses several current issues in the blockchain field, such as application compatibility, scalability, and seamless upgradability. Zones produced by other blockchain systems may be connected to the Cosmos Hub. Cosmos can grow indefinitely to accommodate global transaction demand because of these zones. Zones are particularly well-suited to dispersed exchanges, which will be enabled.  

Cosmos crypto is more than a single distributed ledger, and the Cosmos Hub is not a fortress or the centre of the cosmos.
The aim is to develop a protocol for an open network of distributed ledgers that will serve as a new basis for future financial systems based on cryptographic, sound economic, consensus theory, transparency, and accountability principles. 

## Public Blockchain

The Cosmos crypto Hub is the Cosmos Network's first public blockchain, powered by the Tendermint BFT consensus algorithm.
The Tendermint open-source project was founded in 2014 to solve [Bitcoin](/coins/btc)'s proof-of-work (PoW) consensus algorithm's speed, scalability, and environmental challenges.

The Tendermint team was the first to conceptually demonstrate a PoS cryptocurrency that addresses the nothing-at-stake problem suffered by first-generation PoS cryptocurrencies such as NXT and BitShares1.0 by using and improving on proven BFT algorithms developed at MIT in 1988. 

All Bitcoin mobile wallets now employ trusted servers to offer transaction verification. This is because PoW needs many confirmations before a transaction can be regarded as permanently committed. On platforms like as CoinBase, double-spend attacks have already been proven. Tendermint, unlike other blockchain consensus systems, provides immediate and provably secure mobile-client payment verification. Because the Tendermint is designed to never fork, mobile wallets may get fast transaction confirmation, making trustless and practical payments possible on cell phones. This has far-reaching implications for the Internet of Things applications.

Validators in Cosmos crypto perform a similar function to Bitcoin miners, but instead vote using cryptographic signatures. Validators are secure, specialized computers in charge of committing blocks. Non-validators can delegate their staking tokens (dubbed "atoms") to any validator to receive a percentage of block fees and atom rewards, but they risk being penalised (slashed) if the delegate validator is hacked or breaches the protocol.
Tendermint BFT consensus's established safety guarantees, as well as the collateral deposit of stakeholders–validators and delegators–provide demonstrable, measurable security for nodes and light clients. 

Validators and delegators on the Cosmos crypto Hub can vote on proposals to automatically adjust system default settings, coordinate upgrades, and vote on revisions to the human-readable constitution that governs the Hub's rules. The constitution promotes stakeholder cooperation on issues such as theft and bugs (such as the TheDAO incident), allowing for faster and cleaner resolution. 

Each zone might have its constitution and governing process. The Cosmos Hub, for example, might have a constitution that guarantees immutability at the Hub (no rollbacks except for defects in the Cosmos Hub node implementation), but each zone can specify its rollback policy. The Cosmos network provides maximum freedom and the opportunity for permissionless experimentation by facilitating interoperability among different governance zones. 

On this basis, the Cosmos crypto Hub runs several distinct blockchains known as "zones". A steady stream of recent block commits from zones placed on the Hub helps it maintain track of each zone's current condition. Similarly, each zone monitors the Hub's status. Packets of data are then transmitted from one zone to another by publishing Merkle-proofs as proof that the data was delivered and received. This technology is commonly known as inter-blockchain communication, or IBC for short.  

Since the Cosmos crypto Hub serves as the primary ledger for the entire system, its security is critical. While each zone can be secured by as few as four Tendermint blockchains, the Hub must be secured by a globally decentralised set of validators capable of withstanding the most severe attack scenarios.

## Zones 

A Cosmos zone is a self-contained blockchain that uses IBC messages to connect with the Hub. According to the Hub, a zone is a multi-asset dynamic-membership multi-signature account that may send and receive tokens using IBC packets. A zone, like a cryptocurrency account, cannot send more tokens than it has, but it can accept tokens from those who do. A zone can be designated as a "source" of one or more token types, allowing it to raise the supply of those tokens. 

Validators of a zone connected to the Cosmos Hub may stake atoms of the Cosmos Hub. While double-spend assaults on these zones would result in the cutting of atoms with Tendermint's fork accountability, a zone with more than 2/3 Byzantine voting power can commit an incorrect state.

Because the Cosmos Hub does not validate or execute transactions committed on other zones, users must deliver tokens to zones they trust.
In the future, the Cosmos Hub's governance system may approve Hub upgrade requests that consider zone failures.


Cosmos Crypto Explained

NRCH crypto is a new cryptocurrency that uses the Enreach algorithm

## What is the EnreachDAO Algorithm?

The [EnreachDAO](https://enreach.io/)(NRCH) currency is designed to be more secure and efficient than other cryptocurrencies. It offers several features that make it attractive to investors.

For example, NRCH crypto uses a unique system of blocks that allows for rapid transaction times and low fees. In addition, the currency is backed by a reserve of real assets, which provides additional security.

The Enreach algorithm is also designed to resist quantum computing, ensuring that NRCH crypto remains secure in the future. As a result, NRCH offers investors a unique combination of security, efficiency, and low fees.

In addition, NRCH crypto was designed to be more energy-efficient than other cryptocurrencies, making it more environmentally friendly. Enreach is still in its early stages, but it has the potential to become a major player in the cryptocurrency market.
The Enreach network behind NRCH is based on the [Ethereum](/coins/eth) blockchain, enabling users to make secure and transparent transactions.
It is also ERC20 compliant, meaning it can be stored in any Ethereum-compatible wallet.

In addition, NRCH is mintable, meaning that new tokens can be created as needed. As a result, NRCH provides a flexible and versatile way to make payments online.
NRCH is a mined cryptocurrency, meaning that new coins are created through the process of mining. This involves verifying transactions on the Enreach blockchain and is rewarded with NRCH coins.

In order to mine NRCH, you must have a special computer called an ASIC miner.

As you'd expect, NRCH is a decentralised cryptocurrency, so a central authority does not control it. Instead, its users manage it through its blockchain, a public ledger that records all NRCH transactions.

NRCH is currently the 17th-largest cryptocurrency by market capitalisation.


NRCH Crypto: EnreachDAO Explained

Is the Reef crypto project the answer to many cryptocurrency investors' dreams?

As DeFi projects continue to receive a great deal of attention in the crypto space, the lack of interoperability is a serious bottleneck with which users grapple. This is especially the case when they interact with a variety of applications as they try to tap every opportunity that DeFi has to offer.

A platform enabling users to access and interact with all their preferred DeFi applications in one place seems to be an urgent need right now. That's precisely where the Reef crypto project comes in.

Here, we explore the Reef crypto project.

## What is Reef Finance (REEF)?

[Reef finance](https://stake.reef.finance/) is a project that looks to tokenise staked assets and enable decentralised automated market making, synthetic investments, and liquidity mining through a single platform backed by Polkadot.

It allows users to stake their DOTs, BTC, ETH, and other assets to earn from yield-generating synthetic assets. Moreover, the REEF token powers the entire ecosystem and is used for governance, fees, and liquidity mining.

The Reef crypto project has seen much interest from big-name investors like Multicoin Capital and ParaFi Capital. As a result, Reef Finance appears to be well-positioned to become a leading player in the DeFi space.

## How Does Reef Finance Work?

It's a cross-chain blockchain platform that enables users to trade across different DeFi platforms, like Aave, Uniswap, Synthetix, and Compound.

The system does this by pulling liquidity from many sources - which is how it finds the best possible yield rates for users while stabilising network liquidity. Cross-chain connections with other DeFi platforms are enabled through the Reef Basket Engine. This 'basket engine' contains the Reef Smart Yield Engine and the Reef Intelligence Engine.

Reef Smart Yield Engine

The Reef Smart Yield Engine is a machine learning and AI-powered yield engine that allows users to invest in baskets of currencies and earn stable yield rewards. The Smart Yield Engine is powered by user behavior, which determines the engine's methodologies to back the baskets of currencies in which users invest. Five of the key features of the Smart Yield Engine are:

•	user investment flexibility
•	staking duration flexibility
•	basket creation
•	cross-chain investments
•	stable yield rewards.

This enables Reef Finance to become a decentralised finance platform that supports many assets and investment strategies. Thanks to the Reef Smart Yield Engine, users can easily and confidently invest in various assets without worrying about the complexities of managing those assets themselves.

With the Smart Yield Engine, Reef Finance can provide users with the stability and security of a traditional financial institution while still maintaining the freedom and flexibility of a decentralised platform.

## Reef Intelligence Engine

The Reef Intelligence Engine is an important tool for anyone looking to get involved in DeFi. This powerful engine sources data from all over the internet, including asset prices, on-chain data, and liquidity pool activity. The Intelligence Engine can monitor the financial markets in real-time and make micro-adjustments to the Smart Yield Engine with this information.

As a result, the Basket Engine can rebalance portfolios and allocate assets with yield automation. In other words, the Reef Intelligence Engine is the brains behind the operation, making sure that everything runs smoothly.

The Reef Basket Engine combines the two engines - the Intelligence Engine and the Smart Yield Engine. Essentially, it's a machine that helps rebalance and allocate assets based on yield. And it does all of this automatically!

If you're seeking a way to invest in DeFi with less hassle, the Reef Basket Engine is worth checking out.

## Who Are the Founders of Reef Finance? (A Brief History of History of the Reef crypto project)

The Reef crypto project is a relatively new addition to the crypto-verse, but it's already made quite a splash. The team behind Reef are veterans of the industry, with a long history in both traditional finance and crypto. And they're not afraid to show it - the Reef website proudly displays the team's resumes, complete with an impressive education and work experience.
But who are these people, and what does their experience mean for Reef? Good question - let's dive in and find out!

Denko Mancheski founded Reef Finance in 2019. Mancheski, who is from Macedonia, has a strong background in crypto. He previously served as Adel's Chief Technology Officer, an international crypto incubator designed for blockchain innovation. The goal of Reef is to lower the barrier to investing and enable inexperienced and new traders to invest in a variety of cryptocurrencies with automated liquidity and a simplified trading process.

Mancheski created the project to make it easier for people to get into investing. It seems to be working so far! The team behind Reef is constantly expanding, and they've already partnered with some big names in the industry.

So, it looks like things will only get bigger and better for Reef Finance!

## What Makes Reef Finance Unique?

There are plenty of options out there when it comes to cryptocurrency, but not all of them are created equal. The Reef crypto project is unique because it offers a one-stop-shop for your DeFi needs:

•	It leverages the Polkadot network to offer scalable and low-cost financial services. This gives it some serious scalability advantages over other projects.
•	It has built a staking ecosystem that allows users to earn rewards for participating in the network.
•	 It has a team of experienced developers passionate about building the next generation of financial products.

With Reef, you can deposit any crypto and earn interest on it, trade various assets, and even take out a loan if you need to.
Reef is built on several platforms such as Avalanche, Binance Smart Chain, Moonbeam, Plasma, and [Ethereum](/coins/eth), thanks to how the protocol has been designed on Polkadot.

## What Gives Reef Finance Value?

Reef Finance is a unique DeFi project that offers a cryptocurrency swap protocol and liquidity staking platform. If you want to add some extra "oomph" to your portfolio, Reef Finance might be the perfect fit. This up-and-coming cryptocurrency is great for several reasons, but one of the most compelling is its potential uses in the realm of DeFi.

Reef Finance is still in its infancy, but it's already showing a lot of promise. In addition to being a versatile tool for managing digital assets, its edge over other cryptocurrencies comes from many unique features. For example, its native token (REEF) can be used to earn interest on deposits, the stake for governance, and participate in liquidity mining pools.

In other words, it's got a lot of utility. But what sets Reef apart is its focus on security. Its developers have designed a robust security protocol that includes multi-sig wallets and fraud detection features. As the world of DeFi continues to grow, Reef Finance is positioning itself as a safe and reliable way to participate.

All of these factors combine to give Reef Finance significant value. If you're looking for a cryptocurrency with real-world potential, Reef is worth checking out.

## How to Use Reef Finance

The protocol provides a suite of DeFi products and services, including staking, liquidity mining, trading, and investing. Reef also offers yield rewards and other DeFi services that can be easily integrated into the highly upgradable, forkless network.

The native token of Reef Finance is the REEF token, which can be used for liquidity mining, staking, lending, borrowing, and paying fees.
In addition, traders can trade REEF in the cryptocurrency exchange to take advantage of the best yield rates through an automated process.

## Final Thoughts

Reef Finance is a unique project that can revolutionize how finances are handled. Using blockchain technology and its own Reef Intelligence Engine, it can provide a more efficient and secure way for people to conduct financial transactions.

The Reef crypto project aims to provide financial services for the world's 2 billion unbanked population. The Reef Intelligence Engine will allow users to borrow money, invest in projects, and use other financial services.

Reef Finance is unique in its focus on providing these services to the unbanked population. This gives Reef Finance value because it provides a much-needed service to those who don't have access to traditional banking services.

The founders of the Reef Crypto project have a long history in the finance industry and bring years of experience and knowledge. This makes Reef Finance a valuable investment opportunity.


Reef Crypto: Everything You Need To Know

[Non-fungible tokens](/news/category/nft-news) have swept the globe, but they’re not quite as complicated as they appear.

In this article, we will explain how you can create an NFT (Non-Fungible Tokens) on Blockchain-based marketplaces in simple terms and in very few minutes.

## What Is NFT?

The word ‘NFT’ means ‘Non-fungible Token,’ meaning that they are digital assets that can’t be replaced.
NFTs are digital assets that use Blockchain technology to hold the virtual assets of their creators online.
Even a tweet can be regarded as an NFT, whether it is a song, blog post, digital artwork, playing cards, or a collectible.
You’re probably mistaken if you think that making NFTs is only for artists. On the contrary, anyone can make NFTs for free, which is exactly what I’ll demonstrate in this article.

However, do not confuse NFTs with cryptocurrency. They aren’t the same thing at all.
NFT and Crypto are, in fact, components of Web 3.0. However, there are a few ways in which NFTs and Crypto are related.

The following subtopic walks you through the steps of creating your first free crypto wallet using [MetaMask](https://metamask.io/).

## Things to note before creating an NFT

How to make and sell NFT’ is a hot topic that doesn’t seem to be going away anytime soon. It’s quite simple, but you must consider all factors before embarking on your own path. Consider consulting with a professional who can explain how to create NFT art so that you can make an informed choices.

Before proceeding, here’s a list of what you will need to begin creating, minting, and selling your own NFT: 

•	A Crypto Wallet
•	An NFT Marketplace Account
•	A Software to create or generate NFTs

## How to Create a Free NFT Crypto Wallet?

There are plenty of wallet providers to choose from, but we’ll concentrate on MetaMask, the most extensively used crypto wallet.

1.	To get started, go to MetaMask’s official Chrome Web Store page (visit) and click the “Add to Chrome” located on the button in the top right corner. If your browser prompts you for confirmation, select “Add Extension.” Make sure you’re using one of the chromium-based browsers, such as Google Chrome.
2.	When you install the Extension, it will launch a new webpage to get you started. On this new screen, click the “Get Started” button.
3.	Once you’ve done that, MetaMask will then prompt you to log in or register for its wallet. Choose the right-hand option and click the “Create a Wallet” button.
4.	Your secret recovery phrase will now be shown in the app. If you don’t want to lose access to your wallet, don’t share it. Also, remember it or download it for safekeeping using the provided option. Then press the Next button. Before your wallet is complete, MetaMask will require you to enter the security phrase.
5.	After you’ve created your password, you’ll need to come up with a recovery phrase. It’s a 12-word phrase that serves as your wallet’s username. Before you click the “next” button, MetaMask will explain everything in detail.
6.	Your secret recovery phrase is now shown in the app. If you don’t want to risk losing your wallet, don’t share it with anyone. Also, make a note of it or save it to your computer using the option provided. Then select Next. Before your wallet is ready, MetaMask will ask you to type in the security phrase.
7.	Finally, MetaMask will lead you to the wallet dashboard, where you may access all of the cryptocurrency’s details. Finally, our wallet is now ready to produce its first NFT.

## What is Minting an NFT?

In the case of NFTs, minting is the process of taking a digital asset and transforming it into a blockchain-based digital asset, making it a commodity that can be purchased and sold.

To put it another way, a digital asset is any file that is created electronically. This can be an image, an article, a video, or anything else. Minting is the process of converting a digital asset into an NFT by adding it to a blockchain, usually Ethereum. The Blockchain is a decentralised digital ledger that cannot be amended, edited, or destroyed once an item has been added to it. The asset can be sold on an NFT marketplace once it has been minted and certified as an NFT.


## How to Create an NFT for Free: Step by Step Process

1.	Create a Crypto wallet account: You will need a crypto wallet, as we’ve mentioned at the beginning of this article. To create your wallet account, follow the steps above.
2.	Create an account on an NFT marketplace: There are several NFT Marketplaces, such as
•	Crypto
•	Rarible 
•	OpenSea
•	Binance
•	WazirX. 

You’ve probably heard of OpenSea. If you haven’t heard, OpenSea is the world’s largest NFT marketplace as of 2022. On OpenSea, you may use [Ethereum](/coins/eth) to purchase and trade collectibles, NFTs, trading cards, domain names, pictures, and other fun goods. 
Step 1. To get started, create an account. Then, click “Create” in the upper right corner of OpenSea.

Step 2: You’ll then be directed to a page where you’ll be prompted to link your OpenSea account to an Ethereum wallet.

Step 3: Metamask is definitely one of the most popular choices. When you click it, you’ll be directed to the Metamask website to download the Chrome Extension.

Step 4: After you’ve downloaded the Extension, it’ll prompt you for permission to link your Metamask wallet to your OpenSea account.

Step 5: You’re done! You’ll be redirected to an OpenSea website where you can upload and mint your NFT

Congratulations! Your OpenSea account has been successfully created.

Remember to personalize your NFT marketplace account by uploading a banner image and connecting your social network accounts. The more time you spend making sure your social media accounts are connected, the more visible your art will be; the more time you spend adding detail to your profile, the more visible your art will be.

3.	Make some Art: An NFT can be any digital file, so make whatever art you want, if I were to choose, for example, I’d go with a digital painting. Then I’d save the new artwork as a jpg before uploading it to my new NFT marketplace account and minting it as an NFT.

Here are five platforms for creating, designing, or generating beautiful NFTs:

1.	Fotor: This software employs artificial intelligence to assist non-artistic individuals in creating NFTs. Fotor is a no-code platform that allows you to easily make NFTs by uploading your photo and selecting an art style.

2.	NightCafé: This platform allows you to generate several NFTs in bulk. It creates NFT artworks with Artificial Intelligence-based technologies. NinjaFT is an NFT creation program that works on both Android and iOS smartphones. This app allows you to trade directly on the Binance Blockchain. This program allows you to mint, buy, and design NFTs.

3.	NFT Art Generator: This online NFT maker allows you to make NFTs in gif, png, and mp4 formats. Thanks to the software’s simplicity and intuitiveness, the learning curve isn’t too steep. SketchAr is a program that turns digital art into NFT. It chooses the top artists weekly and turns their work into NFT for free.
Each platform has its own user interface and learning curve. If you’re serious about your NFT adventure, getting to know each of these won’t be a problem.

## How to Sell an NFT

Finally, let’s talk about how to actually sell your NFTs on marketplaces like OpenSea now that we’ve covered the subject of creating NFTs.

Interestingly, selling is not as difficult as it appears. Because OpenSea is one of the most often used NFT markets, I’ll walk you through the complete process of selling NFTs on OpenSea.

•	While linking Metamask to OpenSea, sign in using OpenSea and click “Create,” as seen above.

•	You’ll then be led to a website where you may upload your NFT artwork, fill out any required information, and mint your NFT.

•	You’ll need to upload your NFT artwork and give it a name, as shown in the snip above.

•	The external link will be the OpenSea URL for your NFT. The purpose of your NFT description should be to explain why people should buy your NFT.

•	The “Collection” part follows, where you can include or add your NFT to a certain collection name or category.

•	This next step is to choose a Blockchain for your NFT. I’d recommend “Polygon,” a gas-free alternative to Etherium. Simply put, gas fees are the costs incurred by a creator when completing an NFT transaction. In this situation, NFT makers must pay a price to enter their NFTs onto the Blockchain.

Gas costs can be expensive and depressing for artists. However, if you use Polygon as an option, you won’t have to pay a single penny to mint your NFT.

There are a few things to consider if you want to learn how to make an NFT because everyone else seems to be doing it. For example, the cost is a big consideration. In addition, while you can produce NFTs for free on most platforms, selling them may be a different issue. Putting all these together, your NFT is ready to go to the market.



How to Create an NFT for Free

Confused by cryptocurrency tech? You need a Blockchain for Dummies guide.
The way blockchain records data makes it difficult or impossible to hack, change, or cheat the system. The decentralised database, controlled by various participants, is known as Distributed Ledger Technology (DLT). 

It is a distributed digital log of transactions that is duplicated and distributed throughout the blockchain's entire network of computer systems. Every transaction is recorded in every participant's ledger, and each block in the chain comprises numerous transactions. The block of data keeps any information needed, including what, when, who, where, the cost involved, the state of a shipment, and variables such as the temperature.

As an asset proceeds between locations or the owner changes, the respective blocks form a data chain. The blocks confirm the order and time of transactions, and they are firmly tied together to stop any block from being changed or placed between the two current blocks.  

All network participants can access the distributed ledger and its immutable record of transactions. With this shared ledger, transactions are recorded just once, reducing the duplication of effort that is frequent in traditional commercial networks.
Each additional block strengthens the previous block's verification and thus the entire blockchain. This makes the blockchain tamper-evident, providing the critical strength of immutability.  

This removes the risk of bad actor manipulation — and establishes a trustworthy record of transactions for you and other network users.  

No participant may edit or tamper with a transaction after it has been logged into the shared ledger. If a transaction record contains a mistake, a new transaction must be recorded to remedy the issue, and both transactions are then visible.  
This implies that if one block in a chain is altered, it is evident that it has been tampered with. Hackers would need to modify every block in the chain across all distributed copies of the chain to destroy a blockchain system. 

A smart contract is a compilation of rules stored on the blockchain and carried out automatically to quicken the speed of transactions. A smart contract can specify the terms of corporate bond transfers and the payment of travel insurance, among other things. Blockchains are distributed ledger systems that record transactions with an immutable cryptographic signature known as a hash. 

Continuing our blockchain for dummies guide, let us remind you that blockchains are constantly expanding as new blocks are added to the chain, increasing the ledger's security.  

The overarching issue is trust. How can we believe that if someone establishes new money called the Y dollar, they will not award themselves millions of Y dollars or perhaps take your Y dollars? 

It was this issue that [Bitcoin](/coins/btc) was created to address, using a special database known as a blockchain. Most conventional databases, such as SQL databases, have someone in charge who can update the entries. Blockchain is unique because no one is in control; it is run by the individuals who utilise it. Furthermore, Bitcoins cannot be counterfeit, hacked, or double-spent — thus, anyone who holds this money may be confident that it has some worth.  
 
A blockchain network can track orders, payments, accounts, production, and other things. And, since members share a single view of the truth, you can see all the complexities of a transaction, giving you greater confidence as well as new efficiencies and opportunities. 

## Benefits of Blockchain for Dummies? 

Currently, operations frequently waste time and resources on duplicate record keeping and third-party validations. Fraud and cyberattacks can exploit record-keeping systems. A lack of transparency can slow data verification. And since the introduction of IoT, transaction volumes have surged. All of this slows commerce, depletes the bottom line, and suggests that a different method is required. Here comes blockchain.  
 
## Trust  

You may be sure that as a member of a members-only network, you are receiving accurate and timely data, and that your confidential blockchain records will be shared only with members of the network to whom you have authorised access.  
 
## Security  

Because confirmed transactions are permanently stored, all network participants must agree on data veracity. Nobody, not even the system administrator, can erase a transaction. 

## Increased Efficiencies  

Time-consuming record reconciliations are removed with a distributed ledger shared across network participants. A collection of rules, known as a smart contract, may also be placed on the blockchain and implemented automatically to speed up transactions. 

## Types of Blockchain Networks for Dummies
 
### Blockchain public networks  

A public blockchain is one that anybody may join and participate in. Bitcoin is an example. Significant processing power may be required, as well as little or no transaction privacy and inadequate security. These are critical concerns for the application of blockchain in the corporate world.
 
### Blockchain private networks  

Like a public blockchain network, a private blockchain network is a decentralised peer-to-peer network. A single organisation governs the network, controlling who may participate, implements a consensus procedure, and maintains the shared ledger. Depending on the application, this can increase participant trust and confidence. A private blockchain can be hosted on-premises or behind a corporate security system.
 
### Blockchain networks with permissions  

Businesses that create a private blockchain create a permissioned blockchain network. It is worth noting that public blockchain networks may be permissioned as well. This limits who is permitted to join the network and what transactions are made. To participate, you must have an invitation or permission

### Blockchain consortiums  

The upkeep of a blockchain may be shared across many companies. These pre-selected organisations control who may submit transactions and access data. A consortium blockchain is appropriate for business circumstances where all stakeholders must be approved and share ownership of the blockchain.
 
### Blockchain Security for Dummies  

When developing an enterprise blockchain application, it is critical to have a complete security plan that employs cybersecurity frameworks, assurance services, and best practices to decrease the risk of attacks and fraud.  
 
While blockchain technology creates a tamper-proof transaction ledger, blockchain networks are vulnerable to cyberattacks and fraud. Those with malicious intent can exploit known weaknesses in blockchain technology and have been successful in various hacks and frauds throughout the years. Here are a couple of such examples:
 
### Exploitation of code  

Through code exploitation, the Decentralized Autonomous Organization (DAO), a venture capital fund based on a decentralised blockchain inspired by Bitcoin, was plundered of more than USD 60 million in ether digital currency – almost one-third of its value.
 
### Keys stolen  

The loss of roughly USD 73 million in client Bitcoins from Hong Kong-based Bitfinex, one of the world's largest cryptocurrency exchanges, revealed that the currency remains a substantial danger. The reason was the theft of private keys, which are personal digital signatures.
 
### Employee computer hacked 

When [Bithumb](https://en.bithumb.com/), one of the major Ethereum and Bitcoin cryptocurrency exchanges, was recently attacked, hackers accessed the data of 30,000 customers and stole USD 870,000 in Bitcoin. Even though it was an employee's PC that was hacked rather than the main servers, the incident prompted concerns about general security.

When creating a private blockchain, ensure it is implemented in a secure, robust architecture. Poorly chosen underlying technology for company goals and operations might expose data to security threats due to vulnerabilities. 
Consider the dangers to business and governance. Financial repercussions, reputational considerations, and regulatory hazards are all examples of business risks. Governance issues stem from the decentralised nature of blockchain systems, which necessitate strict controls over decision criteria, governing policies, identification, and access management. 
 
Understanding and controlling blockchain network risks are important to blockchain security. A blockchain security model comprises the strategy to [deploy security to these controls](). Create a blockchain security model to verify that all security safeguards for your blockchain solutions are in place. 

Administrators must create a risk model that addresses all business, governance, technological, and process concerns to execute a blockchain solution security model. They must next assess the dangers to the blockchain solution and develop a threat model. Then, administrators must create the security measures that will reduce the risks and threats based on the three categories listed below:  

Implement blockchain-specific security mechanisms.  
Use standard security controls.  
Implement blockchain business controls. 
How Does Blockchain Operate in the Business World?  
Blockchain for business is useful for entities that do transactions with one another. Permissioned users may access the same information simultaneously using distributed ledger technology, improving efficiency, removing friction, and building trust. Blockchain technology can also enable a solution to grow and scale quickly. Many solutions can be customised to do many jobs across sectors.  
 
## What Role Does Blockchain Play in Environmental Protection?  

Blockchain technology may enable new change models, expand knowledge, and assist social groups in creating common systems of record that meet the needs of corporate donors. Blockchain guarantees that production processes and environmental effects may be recorded, audited, and reported. 

So, to summarise for dummies, blockchain technology enables operational, regulatory, increased visibility, and traceability verification efficiencies. This technology also functions as a robust database that can be readily coupled with big data. Blockchain has the potential to reduce costs and make many services more competitive.
 
 
 



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