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 achieved 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) cannot be mutually interchanged. In line 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 consumer 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 said that XRP’s are divisible like, as an illustration, 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 alternative, it’s unattainable with an NFT as it’s completely indivisible which implies one single NFT will at all times be handled or traded as one single distinctive NFT.
Wietse Wind illustrated a number of the use circumstances of NFTs as he pronounced that the NFTs are used to create verifiable digital shortage, digital possession, and likewise 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 functions that require digital objects 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 consumer aspect / consumer interface ‘NFT behaviour’…
“if the worth of issued foreign money is within the vary of 1000000000000000e-85 – 1000000000000000e-96, shoppers ought to deal with (symbolize, largely a consumer 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 isn’t a change required to the XRP Ledger and a really slight change will probably be required to the customers’ pockets.