By now, if you’re a crypto enthusiast, you might be familiar with the term minting. To those not, minting is essentially publishing own tokens to blockchains to make them more purchasable.
Before that, it’s important that everyone knows that in order to pull this off, you also need a blockchain to mint the NFTs. The process of minting includes converting digital assets so that they can be stored in the blockchain. This begs the question, what are the best blockchains for NFTs? Here is a list of eight blockchain networks you can use to mint your NFTs with safety.
If you have been in the crypto scene for a while, you might be familiar with this name. Well, who doesn’t? It is currently the most popular blockchain for NFTs for a reason as people also deem it the best blockchain for NFTs. It has the best and most complete facilities and requires no intermediaries, thereby reducing the hassle.
All of those benefits make Ethereum the easiest and most efficient to use, as well as it does well with its decentralisation. However, it also has its fair share of weaknesses. Due to its quality, Ethereum is undoubtedly one of the most expensive in the scene. Besides that, it also uses a lot of energy because it has a Proof-of-Work system.
If you’re looking for the best efficient alternative to Ethereum, you can consider Tezos. It uses two million times less energy than Ethereum. It only uses a Proof-of-Stake system which helps in terms of computation and reducing work, making this the more economic version of Ethereum. Tezos is especially great if one wants to engage in a more sustainable way of living and if one wants to follow a specific moral and ethical code as it is a greener option. The most popular marketplace in this chain is Objkt.
The best thing about Binance Smart Chain is that they are affordable and wallet-friendly, and their performance is almost always guaranteed as it provides super-fast transactions as well. This is due to the fact that Binance Smart Chain also uses Proof of Staked Authority to help lower fees, efficiently manage the chain, and support shorter block times. However, it seems like great benefits also come with disadvantages. The main setback of Binance Smart Chain is its inability to decentralise.
This is a little different from other popular blockchains because it specialises in digital collectibles and virtual items. The blockchain mostly stores trading cards, figurines, memorabilia, and other items in that same frequency, compared to Ethereum, which stores mostly digital art.
Worldwide Asset Challenge is also home to many brands as well as popular movies. They implement a Proof-of-Stake system and have deals for climate change, attempting to operate in a more sustainable manner. Not only that, but they also redistribute their network fees to their community.
Flow is also a blockchain with many benefits. This was created to cater to an audience of NFTs, games, decentralised apps, and more. Unlike other blockchains, Flow was also created with scalability in mind, benefiting users as it makes transactions more effective and allows better accessibility for a wider range of users. Besides that, Flow has an average of 10,000 transactions per second, making it a fast and highly efficient blockchain—not to mention its insanely low fees.
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Another blockchain utilising a Proof-of-Stake system, Cardano mostly focuses on making the chain a hospitable environment and making it scalable. Its quality and validity are proven by its high speed and performance, hosting 250 transactions per second. This number is predicted to soon increase due to its improved scaling protocol named Hydra.
Cardano also has smart financial contracts supported by two layers called CSL and CCL. With this, Cardano is able to function at its highest capacity and follow its smart contracts.
Related Article: The Top List of Cardano NFT Projects You Should Know
Created on top of the Ethereum blockchain, there are multiple benefits that can be found in this blockchain. First of all, EOS hosts frictionless development of decentralised apps and smart contracts. EOS also has an impressive number of transactions per second, 4000, and an average confirmation time of 0.5 seconds. This makes EOS highly functioning and possessing a good quality performance. In order to get into this blockchain, users are obligated to deposit some money, but it charges nothing for gas and transactions.
Related Article: What is an NFT Gas Fee? Here’s Everything You Need to Know
Where Solana wins is in its speed, as it is one of the fastest programmable blockchains. Since its nature of being a hybrid of Proof-of-History and Proof-of-Stake systems, complex puzzles that need to be done like in other blockchains are eliminated. Due to this mechanism, prices and fees are very low, thereby benefiting users.
Even with all of those benefits, there are several faults with Solana that you should be cautious of. Solana has already gone offline at least seven times in a year. A lot of the time, the issues they face are not even from the same source. Once, they shut down and suffered an outage because of a bot attack. Some other times, they suffered from “durable nonce instruction”.
Solana’s never-ending sets of issues have caused so much trouble for users. Moreover, this issue has caused yet another halting of activities since Solana goes offline for a pretty long period of time. If the blockchain had better monitoring and management, this would have never happened. This is better to be a lesson to all the crypto enthusiasts to be careful in choosing blockchains and weigh out all the pros and cons before jumping straight into it without much consideration.
With all this information about the best blockchains for NFTs, we can now see that many options can be picked when considering which platforms to use to mint NFTs will be beneficial. Hopefully, you can pick the one that suits your needs and best resonate with you.