The cryptocurrency world was amazed when suddenly non-fungible tokens offered completely different things. A well-known IT expert was able to do this with a simple test.
Almost everyone is currently talking about the so-called non-fungible tokens, NFTs. Artists can use it, for example, to place digital art items on the blockchain and clearly regulate ownership. However, the applications are more diverse and still in their infancy, because the many ideas are being implemented only gradually.
The NFT entity on the blockchain must always be non-fungible, as the name suggests. But now he is the head of the communication platform Signal, and he is an IT freak moxie marlinspike A critique of NFTs has shown that it is very possible to exchange digital items.
Exchange through the back door
This is surprising, because with NFTs, everything in the crypto world actually has to be clearly organized and denoted as unique items. According to him, the expert succeeded Blog entry That is, simply changing the virtual object on the server where the data to which the token is bound is stored.
NFTs often only regulate ownership of a virtual object – but often the data of the artwork or digital object is not stored in the token at all, but only referenced via a link. Thus the data could be on another server. And then, if someone has access to those computers, as Marlinspike demonstrated in a simple test, things can be manipulated and swapped at will.
NFT reaches into the void
One does not even have to be in possession of an NFT. The expert points to a structural problem that is currently being discussed in many places in the blockchain community. In the virtual world and especially with NFTs, trusting the service provider has suddenly become necessary again. Because not every owner of digital artwork also wants to run their own server and store their virtual possessions there.
However, Marlinspike’s detractors put the objection into perspective of the argument that all is not yet perfect in this brave new world of crypto.
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