Non-fungible tokens (NFTs) have taken crypto and the blockchain space by storm and have opened up a new way through which any artist or creative can monetize their content.
However, it has been difficult for many artists and creators to fully understand how NFTs work and how/what data is stored.
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Additionally, many artists who prefer doing things manually, and having control over their data, are reliant on platforms that have a high cost associated with maintaining NFTs.
Specifically, most platforms will typically charge a specific percentage as a service cost from the selling price of an NFT, and this is a process that occurs with every single NFT minted or created on the platform in question.
Additionally, storage needs for blockchain technology showcase that permanent storage for blockchain data can have a high cost associated with it initially.
Cascade is a protocol that enables the storage of NFT data and metadata permanently within a highly redundant, distributed fashion with a single upfront fee. Today, we are going to explore everything users need to know about its usage and overall functionality.
How A Blockchain Stores Data
Blockchains are digital ledgers that store information – i.e. data. The data is stored in sequential blocks. In this case, every block within the blockchain gets identified through a distinct cryptographic hash, which is used to identify the previous block. Within each new block, data gets recorded and stored, after which it becomes a part of the overarching database or ledger.
The Data Surrounding Non-Fungible Tokens (NFTs)
NFTs have data associated with them which gets stored on the digital ledger. The NFTs in question can represent a specific digital or physical asset, such as an image, an art piece, music, or a highlight video or GIF file. In any case, all of this data needs to be recorded somewhere on the blockchain.
This is due to the fact that an NFT can hold the digital asset itself and can even store a link to where the original asset can be found. What all of this essentially means is that storing an asset as an NFT can be costly due to the costs associated with its size. However, it does have benefits. Specifically, it's stored on the blockchain, which means the data is secure, immutable, and decentralized.
SmartMint and Pastel Network’s Cascade Solution
The tool, however, features additional functionalities that enable it to stand out from many competing projects. One of the key features of interest here is an permanent NFT data storage solution known as Cascade, which provides fully distributed, permanent, and redundant data and metadata storage on-chain. Users just need to pay once and have all of the data stored permanently, and it can also prevent any points of failure that are typically commonplace among centralized systems.
How Cascade Works And Its Importance In The Broader Blockchain Space
Cascade is an integrated and decentralized storage layer that is based on advanced technology, including RaptorQ fountain codes.
Pastel ensures that a digital asset’s data and metadata can be uploaded, verified, registered, and stored on-chain. This allows for data permanence.
By utilizing a series of smart tickets which exist on top of the Pastel ledger, creators can store their assets in a distributed way across a variety of SuperNodes.
Cascade has the goal of enabling 20, 50, or over 100 years of data storage for every single file stored on the Pastel Network, ensuring that anyone, with the corresponding credentials, can access it at any point in the future.
Moving Forward With SmartMint and Cascade
SmartMint, as a platform, aims to offer a no-code solution through which anyone can create non-fungible tokens (NFTs) without any prior knowledge of blockchain technology or coding.
Any creator can use the platform to create their own NFTs whilst also retaining full ownership over their smart contracts. Additionally, through Cascade, creators have the NFTs permanently stored on the Pastel Network with a single upfront cost.
All of these aspects make SmartMint the go-to solution for all creators to keep their digital works stored securely and permanently on-chain.