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Singapore, Singapore–(Newsfile Corp. – June 11, 2021) –  As more and more NFT artworks are sold at sky-high prices, many investors have pay attention to the field, which makes NFT a popularity. For NFT assets, it may be only one step away from low value to millions of dollars. But regardless of the value, asset security is crucial, which is easy to be overlook compared to transactions. The resulting asset security issues will bring irreparable losses to participants.

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When using the centralized storage, once the stored resources are inaccessible due to site closures or hacking attacks, the ownership of the NFT is just an empty shell, because the most important content resources are partially lost. NFTs that do not use a decentralized storage mechanism can be called pseudo-NFTs, which will seriously hinder the healthy development of the NFT ecosystem. Even the well-known NFT trading platform OpenSea still partially uses centralized storage resources. Although large platforms such as OpenSea provide users with a path to upload IPFS through third-party services, the actual operation is complicated. Therefore, by default, users can choose not to upload IPFS and directly fill in the http address of the centralized storage. However, this will make users buy non-chained NFT assets, which is very easy to cause losses of assets.

The core value of NFT lies in the content itself. If the storage is not secure, the platform and user assets will not be protected. In this regard, Paragon, a protocol-level project aimed at activating the value of high-quality NFT assets, puts forward a constructive plan for how to ensure the security of NFT assets. Paragon emphasizes that IPFS data on the chain can ensure the security of NFT assets. At present, only NFT artworks that are connected to the IPFS protocol are decentralization. In addition, features such as distributed storage and point-to-point transmission brought about by decentralization are important prerequisites for ensuring the security of NFT assets.

In response to the problem, the Paragon directly provides IPFS access points, without requiring a third-party service, which makes it efficient and convenient for users. In this way, the user’s NFT asset data can be protected from the hidden dangers of asset security caused by problems such as Internet failure. The IPFS protocol can protect NFT assets in an encrypted manner, and the form of decentralized storage ensures the security of NFT artworks for each user.

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Figure 3

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One thing is for certain that a sound NFT platform, such as the Paragon, will drive the development of the entire NFT ecosystem. For investors, it is necessary to pay attention to identifying NFT platforms that are really effective while setting foot in the NFT field, so as to maximize the value brought by the benign development of NFT. It can be expected that with the promotion of platforms such as the Paragon and the increasing value created by users, NFT will enjoy a rapid development in a few years and become the most promising asset in blockchain.

Media Contact

Company Name: Paragon
Contact: Bill james
Email: [email protected]
Website: www.paragon.cool

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87288

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