I thought the whole point of NFTs and the blockchain is that it’s decentralized, and you can use “smart contracts” for things like this. How is one company able to decide to change it?
Apparently, smart contracts are not contracts at all… they are friendly suggestions. Unsurprisingly a contract needs a mechanism to enforce it, which makes decentralized contracts redundant at best (as you still need institutions outside of the blockchain to monitor and enforce the contracts), and or worse, completely useless if there is no legal way to enforce them.
They can only change it for their instance, but they can’t impact all NFT marketplaces. This is only significant because this company is the largest broker so it will impact more people.
Anyone can set up their own blockchain and build it however they want. Hell, they could make it centralized even.
I thought the whole point of NFTs and the blockchain is that it’s decentralized, and you can use “smart contracts” for things like this. How is one company able to decide to change it?
Apparently, smart contracts are not contracts at all… they are friendly suggestions. Unsurprisingly a contract needs a mechanism to enforce it, which makes decentralized contracts redundant at best (as you still need institutions outside of the blockchain to monitor and enforce the contracts), and or worse, completely useless if there is no legal way to enforce them.
They can only change it for their instance, but they can’t impact all NFT marketplaces. This is only significant because this company is the largest broker so it will impact more people.
Anyone can set up their own blockchain and build it however they want. Hell, they could make it centralized even.
That’s not the question
The post you replied to was saying, “shouldn’t it be inherent to the entry on the Blockchain, regardless of market”