Founding father of XRPL Labs-Wietse Wind-proposed on GitHub that the NFTs (non-fungible tokens) could be supported by the XRPL (XRP Ledger) with none change being performed to XRP Ledger code.
Firstly, Wietse Wind elaborated on the distinction between NFTs and XRP tokens.
He mentioned a non-fungible token is a sure kind of cryptographic token that represents one thing distinctive, as a non-fungible token (NFT) can’t be mutually interchanged. In accordance with Wind, an NFT’s non-mutual-interchangeability makes it distinctive from different native tokens like XRP; that may be despatched or acquired by a person with out the necessity of the token (XRP) being uniquely recognized.
In easy phrases, Wind differentiated the 2 (native tokens and NFTs) as divisible and indivisible, as he acknowledged that XRP’s are divisible like, for example, a single XRP token could be divide into two or extra proportions i.e. one can obtain or ship 0.75, 0.50 or 0.25 XRP. Wind mentioned, on the other, it’s unattainable with an NFT as it’s totally indivisible which suggests one single NFT will at all times be handled or traded as one single distinctive NFT.
Wietse Wind illustrated a few of the use instances of NFTs as he pronounced that the NFTs are used to create verifiable digital shortage, digital possession, and in addition the likelihood of “asset interoperability throughout a number of platforms”.
Additional, Wind mentioned that the non-fungible tokens (NFTs) are additionally utilized in sure types of purposes that require digital gadgets like crypto artwork and digital collectibles.
Wietse Wind additionally elucidated his thought within the following method:
“The XRP Ledger has an issued token precision of 15 vital figures. The smallest quantity of an issued token the XRPL can deal with is 1000000000000000e-96. The decimal worth of this scientific notation is:
“Let’s assign the final (say) 11 figures to shopper facet / person interface ‘NFT behaviour’…
“if the worth of issued foreign money is within the vary of 1000000000000000e-85 – 1000000000000000e-96, purchasers ought to deal with (characterize, principally a person interface affair) the quantity as NFT.“
One of many vital factors that Wind put ahead in his proposal is that for his “NFT thought” to work there is no such thing as a change required to the XRP Ledger and a really slight change can be required to the customers’ pockets.