Researching the correct chain

Researching the correct chain

Research

After telling my teacher about the project I would be starting I received some feedback. My original idea of creating my NFT on the Ethereum blockchain quickly got reject because "Proof of Work" isn't an environmentally-friendly way of working so I had to go look for another blockchain.

So, no Proof of Work

Proof of Work isn't the best way to handle this project, but in order to understand why it's not I had to do some more research. Quickly I realized that the two big concepts were Proof of Work and Proof of Stake, so I made a comparison of these two. My findings can be seen below on the picture.

findings.png

Because Proof of Stake has a way lower energy consumption I went on my search to find the best crypto built upon this concept.

Cardano

I quickly stumbled across Cardano, a Proof of Stake concept. The reason I was quick to jump the gun on Cardano is because I had looked into this crypto before and I saw they just released smart contracts support.

It also has pretty cheap fees because of the Proof of Stake concept. I mean, who doesn't like it when somethings cheaper?!

It uses a smart contract language called Plutus which is written in Haskell.