Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => NFTs & Collectibles => Topic started by: Micky on March 29, 2021, 05:44:28 PM
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Aleph.im, a decentralized file-sharing platform, has launched a dApp that lets users automatically backup the data underlying their nonfungible tokens, or NFTs, on a censorship-resistant and decentralized network.
The concept of NFTs has generated considerable buzz in the last weeks due to their application for buying and selling digital art. The immutable token stands in as the unique and non-counterfeitable representation of a specific piece of art, even if the specific art piece is fully digital and could be copied by anyone. While this issue is often highlighted by NFT critics, sometimes, the opposite problem exists.
Generally, NFT files are created and hosted on the Interplanetary File System, or IPFS, a decentralized storage network. Files stored on IPFS are immutable and uncensorable, making it a great location for storing the underlying art of an NFT. However, the tokens sometimes point to centralized file storage solutions, including Amazon S3.
Centrally-stored NFTs is where Aleph comes in with its DApp, allowing anyone holding such an NFT to easily back it up on the distributed network. Jonathan Schemoul, founder of Aleph, told Cointelegraph that this system protects the owner of the NFT if the underlying file is deleted or modified. The DApp takes a snapshot that persists no matter what happens to the original file.
Storing the underlying file of an NFT on centralized storage systems means that its creator could always choose to modify or remove the digital art item. The file’s longevity can also be cause of concern, as the hosting provider’s account may be closed by the platform due to a number of issues.
The file storage contradiction was exemplified by James Prestwich, co-founder of Summa, who is responsible for what could be the first “NFT rug pull” back in December. Eli Krenzke, researcher at Polychain, had purchased the NFT of Prestwich’s tweet, which Prestwich promptly deleted. While the particular episode was seen as a joke aimed to prove a point, the issue could be serious for much more expensive NFTs.
sorce link (http://Aleph introduces DApp to 'backup' NFT art pieces
https://cryptonews.net/503850/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)