Blockchain Based Transaction System with NFT

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Blockchain Based Transaction System with NFT ( blockchain-based-transaction-system-with-nft )

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Sensors 2021, 21, 3822 5 of 32 2. 3. 4. 5. 6. EVUnit energy tokens for battery charging transactions between prosumers and EV owners. InUnit reward tokens offered to prosumers by the Power Company for tasks such as consumption estimation. GaUnit reward tokens offered to prosumers by the Power Company for energy flexibility in a gamified context. StUnit energy storage tokens for managing the community level energy storage transactions. EStUnit reward tokens for managing the use of EV batteries as energy storage. Figure 1 presents an overview of the system participants and the relationships be- tween them. Figure 1. System Participants. The implementation of the tokens as FT and NFT is done in two separate chaincodes, written in Golang v1.16 [23], each with smart contracts for functionalities that correspond to the lifecycle of the token, which are create, bid, transfer and redeem. Endorsement policies in Hyperledger Fabric stipulate how many or which organizations must endorse transac- tions. The chaincode level endorsement policies override the network level endorsement policies. The chaincode level endorsement policies for both of the chaincodes is that two out of the three organizations must endorse each transaction. This chaincode level policy will apply at token creation time for FT as well as NFT implementations. After the token is created, i.e., the key-value pair corresponding to the token is created in the world state, key level endorsement policies for the given token can be configured which will override the chaincode level endorsement policy. For each token, we configure the issuer organization as the organization of the client that invokes the token creation. We also configure a en- dorser organization for each token that is required to endorse all transactions involving that token. We add both these organizations as required endorsers to each token’s key level endorsement policy. In Table 1, we present a mapping for token types and required issuer and endorsing organizations. We ensure by encoding into the smart contract, that only a client of the stipulated issuer organization is permitted to create a token of the corresponding token type. This mapping is the same for FT and NFT implementations. As shown in Table 1, for EUnit and EVUnit, the Storage Provider along with the Transaction Platform must endorse each transaction. We envision that the prosumers do not have any local storage and use the community storage to store their energy, and it is from here that the energy is supplied to a buyer. Thus, before being allowed to transact a token,

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