How to Choose the best Blockchain Technology for NFT Minting?

There are many things to consider on the way to creating your own NFT. Choosing the right blockchain platform to mint your non-fungible tokens is very important. After all, it is the technology that your customers will interact with. You will need to consider the cost, future support of the technology, and usability. At the initial stage, it is essential to think about the commission for the NFT minting, how much it will be and who will pay it?

Somewhere you have to pay, but somewhere it can be shifted onto the shoulders of those who want to purchase your NFT. So, how to choose the best blockchain technology for NFT Minting? We picked up the main parameters that you need to consider for your NFT project.

Baker's Dozen of Blockchain Technologies for NFT Minting

Here we analyzed the 13 most popular blockchain technologies for NFT Minting, and we compared the Gas Fees, Consensuses, and other key parameters of every platform. If you ever ask yourself -"how can I create an NFT without spending much?" - this is the place where you will find the answer.

Ethereum

Gas Fees - $ 150
Consensus - PoW (Proof of Work)

The most famous blockchain technology globally has been used for NFT now since it appeared one of the first. It consistently ranks second in terms of capitalization and price in the general list of cryptocurrencies. Ethereum has many standards for all kinds of smart contracts. In general, it is an excellent technology for NFTs, but not now, since the throughput is tiny, and the commission, although fixed, is large, making it unprofitable for low-cost transfers. It is now more suitable for "Whales" looking to transfer $ 1,000,000+.
But in the future, Ethereum 2.0 is coming. And will operate on PoS, which promises to increase the transactions throughput and reduce the gas price. 

Solana

Gas Fees - $ 0.00025
Consensus - PoH (Proof of History)

Currently, it is the most preferred platform for minting NFT. Solana uses its new system called PoH (Proof of History). Thanks to this, it has a throughput of up to 65,000 transactions per second and a low gas commission. Since anyone can become a validator, but only if they have a lot of computing power, which creates a potential problem of centralization, which is perhaps the only drawback of this technology. "

Polygon (MATIC)

Gas Fees - $ 0.002
Consensus - PoS (Proof of Stake)

Polygon is a blockchain technology running on the Ethereum Internet network. It was created due to scalability issues in Ethereum. It is essentially a second-tier or add-on on top of Ethereum that allows faster transactions at a lower cost than the main blockchain. At the same time, it has the same level of security as Ethereum. Another nice feature is the clear UX, which simplifies the entry threshold for new users. 

Cardano

Gas Fees - $ 0.4
Consensus - PoS (Proof of Stake)

Another great blockchain for minting NFT. It makes everything harmless, safe and compatible. Also, there are no scalability issues; everything is energy-efficient; Cardano uses methods such as shrinking, compressing and partitioning to eliminate data storage problems. 

Binance Smart Chain

Gas Fees - $ 0.522
Consensus - PoA (Proof of Authority)

Personal blockchain of the most popular cryptocurrency exchange Binance. Investors can get instant liquidity and a high ROI as passive income from the BSC-based NFT platform to grow their business.
The NFT platform on Binance Smart Chain runs on automated smart contracts to manage the overall flow of transactions.

Tezos

Gas Fees - $ 0.1
Consensus - PoS (Proof of Stake)

Another technology based on PoS, scalable and fast, with very small fees. But there are downsides to the implementation, and there were some token delays. This blockchain is new, so the problems have not been settled yet. This should be taken into account.

WAX

Gas Fees - 0
Consensus - PoS (Proof of Stake)

Great for NTF minting, clear design, accepts fiat money, very fast and scalable. The most pleasant thing is its price for a commission - there isn't any) Moreover, it has a human wallet that even your grandmother can use. 

EOSIO

Gas Fees - 0
Consensus - PoW (Proof of Work)

Works in the same system as WAX. Usually, it is advised to transfer to this blockchain from Ethereum. Due to the better mutability and speed of transactions. EOSIO makes the commission almost free; instead of forcing individual network users to pay for access, it passes those costs onto the network. This makes EOSIO one of the most cost-effective blockchain networks. 

Avalanche Avax Network

Gas Fees - $ 0.065
Consensus - PoS (Proof of Stake)

Very fast colo 4500 TPS PoS blockchain. Despite this, its decentralization is not in question since it has more than 1000 validators on its network. Therefore, it is safe in the future. Transactions under 10 cents are also bribing, so this is a good solution for NTF. 

Terra

Gas Fees - $ 0.15
Consensus - PoS (Proof of Stake)

Many projects are also done on this blockchain. It has existed for a long time. It works on the consensus proof of the steak, so there are no problems with scalability and speed. One of the interesting blockchain projects is LunApes. You can look at their example and understand how the blockchain works better. 

FLOW

Gas Fees - $ 0.014
Consensus - PoS (Proof of Stake)

This year the blockchain has done its best and has signed products such as the NBA Top Shot. And listen that the main NFT - cryptocurrencies, will also switch to this blockchain. 

Polkadot (Effinity)

Gas Fees - 2.5 %
Consensus - PoW (Proof of Work)

An offshoot of Polkadot Effinity is a specially crafted blockchain with the participation of Parity Technologies. In fact, it is the interconnection of tokens that enables the widespread use of NFTs.
End-users won't even need to create a MetaMask wallet or store ETH in it to access their NFTs. In fact, users can transfer their NFT assets from one blockchain to another. "

Algorand

Gas Fees - $ 0.0001
Consensus - PPoS (Pure Proof of Stake)

This blockchain is a wonderful answer to the demand for security, money-saving and environmental protection. Since proof of work is energy-intensive and leads to painful CO2 emissions, proof of stake resolves this issue. Moreover, they are inexpensive and scalable. This blockchain has no forks. And the most interesting thing is that although a small number of validators are involved in the confirmation of the transaction, the algorithm is written in such a way as to select them in random order. All this makes it an excellent choice for this blockchain for NFT.

Conclusion

As you can see, so far, proof of work is clearly inferior to another consensus. Each of them has its own advantages, but in general, you can even choose Ethereum for your NFT mining. It all depends on the task. Moreover, you can place the burden of fees commission on the buyer, that is, mint a new NFT at the time of purchase. For a more substantive conversation, contact us, and we will help you create the best NFT.