From trading cryptocurrencies to purchasing art in the form of non-fungible tokens (NFTs), blockchain applications are booming—and a University of NSW (UNSW) cybersecurity expert is predicting where things will go from here.
This article by Cecilia Duong, writing for UNSW Newsroom, makes the following points:
- One of blockchain’s greatest strengths is its ability to store information electronically in a way that is virtually impossible to hack, while also giving a public record of transactions.
- There has been a rise in the popularity of blockchain—NFTs in particular—because everyday people who have little or no computer expertise can still access blockchain through trading tokens or cryptocurrencies.
- Professor Salil Kanhere, from UNSW School of Computing Science and Engineering, predicts that the next boom will be in ‘virtual’ property in the Metaverse.
- Prof. Kanhere says there’s also going to be a surge in NFT avatars, fuelled by people’s obsession with collectables and individuality.
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Source: University of NSW (UNSW)