Minting

Minting in the context of blockchain refers to the process of creating new tokens or digital assets and recording them on the blockchain.

For NFTs, minting involves converting digital files into unique assets on the blockchain, making them immutable and verifiable. This process assigns ownership to the creator and enables the asset to be bought, sold, or traded on various marketplaces.

Web3 developers engage in minting when deploying new tokens or NFTs, ensuring that the assets adhere to specific standards like ERC-20 for fungible tokens or ERC-721 for non-fungible tokens. Efficient minting practices are essential for managing gas fees and ensuring the scalability of blockchain applications.

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