Assets, Ethereum

Does Top Shot Use Ethereum?

In recent years, cryptocurrency and blockchain technology have become increasingly popular. As a result, a growing number of businesses are beginning to explore the use of this technology.

One such business is Top Shot, a digital collectibles platform that allows users to purchase, trade, and sell virtual basketball collectibles.

Top Shot uses the Ethereum blockchain to power its platform. Ethereum is a decentralized platform that runs smart contracts, or computer programs that execute automatically when certain conditions are met.

This allows for a trustless and transparent system where transactions can be processed without the need for a third party.

NOTE: WARNING: Top Shot does not use Ethereum, or any other cryptocurrency. It is a platform built on the blockchain technology of NBA Top Shot Ltd. and uses its own proprietary crypto-collectible token, NFT, to store digital collectibles. Although Ethereum is a popular cryptocurrency, it is not used by Top Shot and any transactions that involve exchanging Ethereum for NFTs or vice versa are not supported by the platform.

The use of Ethereum enables Top Shot to offer a number of features that are not possible with traditional collectibles. For example, because each collectible is stored on the blockchain, it cannot be counterfeit or lost.

Additionally, the use of smart contracts allows for instant and secure transactions between buyers and sellers.

Overall, the use of Ethereum provides Top Shot with a number of advantages over traditional collectibles platforms. The ability to store collectibles on the blockchain ensures that they cannot be lost or counterfeited, while the use of smart contracts enables fast and secure transactions.

As more businesses explore the use of blockchain technology, it is likely that we will see more platforms like Top Shot emerge.

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