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Sensors 2021, 21, 3822 7 of 32 • • • • Notforsale is a Boolean flag that is set to TRUE if the token is not for sale. Owner stores the identity of the owner of the token. Bid field accepts a bid on the token. This field is implemented as a string in the case of NFT in order to receive a single bid and as a hashmap in case of the FT implementation in order to accept multiple bids. A bid in this system registers a binding interest in a token. Notes field is a placeholder to store other details of the token such as price or terms and conditions that may be needed in the exact use case but are not general enough for our work. 3.2. Design Requirements The following are the requirements of such a system: • Methods and algorithms must be provided to take the token through its entire lifecycle with four main operations: create, bid, transfer and redeem. • The user must be able to query the entire list of all tokens of each type owned by them without having to remember the token ID. • Only a member of the designated issuer organization of each type of token as defined in Table 1 must be permitted to initiate token creation. Moreover, token level en- dorsement must be configured on each created token so that the designated endorser organizations of each type of token are required to endorse transactions for that token. • After the token is created, a designated owner is defined which can be either the issuer or the recipient of the token and only they must be allowed to initiate any transactions to the token. This is with the exception of placing a bid upon the token. For this purpose, another user must be able to access the token and register their bid. • A user must be able to designate any of their tokens as not for sale and others should not be able to bid upon it. • When a buyer bids upon a token, their client identity must be recorded, so that a transfer to them can be processed. • If the token is NFT, then only one bid is permitted on a given token for the entire value of the token. • For FT tokens, multiple bids are permitted and each must be recorded with the bid amount of energy assets and bidder identity. After each bid on a FT, the value of the available tokens should be updated and bidding should be allowed until all the energy assets in the token have been bid upon. If the same buyer bids multiple times on the same token, the older bid amount must not be lost. The new bid amount must be added to the buyer’s bid. • In FT tokens, the token must be able to accept further bids on the remaining value, without requiring the owner to transfer the value right away. Moreover, the owner should not have to wait for the entire value of the token to be bid upon before initiating transfer. • The owner of the token must not be able to spend the token value that has been bid upon. For NFT tokens, the owner of a token with a bid on it must not be able to redeem that token at all. Similarly, for FT tokens, the owner must only be able to redeem value that is still available, i.e has not been bid. 3.3. Implementing Energy Assets as NFT When a NFT is put up for sale, or to be won as a reward, the bidder must bid upon the token in its entirety. This allows the sellers to set different prices for different tokens of the same token type. Also, it allows the Power Company to set up different conditions for tokens of the same token type as per their business need. LevelDB is used as the state database in this work as it offers better performance than CouchDB which is the other supported state database in Hyperledger Fabric [32]. As mentioned before, the ID field should be unique and each client must be able to query for a list of tokens they own, without having to remember token IDs. However, LevelDBPDF Image | Blockchain Based Transaction System with NFT
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