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Sensors 2021, 21, 3822 10 of 32 3.3.3. Transferring a NFT Using Algorithm 5 the owner of a token can transfer the token to the buyer who has bid upon it. The token is read using Algorithm 2 and it is checked that the invoker client is in fact the owner of the token and there exists a bid on the token. If the token exists, is bid upon and the transfer is requested by the owner, the transfer can take place. We will need the newly transferred token to be reflected when the new owner checks their list of tokens using Algorithm 7 which will use the ID of the token stored on the world state. However, we cannot actually edit the ID of the token on the world state, so we create a new token owned by the buyer for the same value using Algorithm 3 and destroy the original token owned by the seller. Algorithm 5 Transfer a NFT 1: 2: 3: 4: 5: 6: 7: 8: 9: 10: 11: 12: functionTRANSFERNFT(idstring) token ← ReadToken(id) invokerclient ← GetClientIdentity().GetID() if invokerclient != token.Owner then ◃ Calling Algorithm 2 return “The client invokerclient is not authorized to transfer token owned by token.Owner” end if if token.Bid == “” then return “No bid yet” end if CreateNFT(token.TokenType, TRUE, token.Bid, token.availableassets) ◃ Calling Algorithm 3, to create new token with buyer’s id DelState(id) ◃ Delete the token with seller’s id endfunction 3.3.4. Redeeming a NFT When the token is redeemed it is deleted from the world state, but the record of transactions remain in the ledger. The Algorithm 6 for redeeming a token, starts by getting the invoker client’s identity to make sure they are the owner of the token being redeemed. Also, a owner should not be able to redeem a token that already has a bid, so the algorithm checks to make sure there is no bid on the token being redeemed. If a token with no bid is being redeemed by the owner, the redeem operation goes through as requested. Algorithm 6 Redeem a NFT 1: 2: 3: 4: 5: 6: 7: 8: 9: 10: 11: functionREDEEMNFT(idstring) token ← ReadToken(id) ◃ Calling Algorithm 2 invokerclient ← GetClientIdentity().GetID() if invokerclient != token.Owner then return “The client invokerclient cannot redeem token owned by token.Owner” end if if token.Bid != nil then return “The client invokerclient cannot redeem token as it has a bid” end if DelState(id) endfunction ◃ Deleting token 3.3.5. Querying for a List of Owned NFTs As mentioned in Section 3.2, an important design consideration is that the user must not be required to remember the IDs of all the tokens they own and the system must provide an easy way to query that. Algorithm 7 uses a range query to return a list of all tokens of the specified type owned by the invoking client. The algorithm takes the tokenPDF Image | Blockchain Based Transaction System with NFT
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