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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 24 of 32 the performance achieved is poor. The peak throughput achieved in our experiments was 13 TPS for a latency of 18.44 s at the queue length of 400 unfinished transactions. Thus, the execution of Algorithm 7 should be considered to be handled off-chain as is mentioned in the Hyperledger Fabric official documentation [36]. Figure 9. Read operation- Peak Throughput: FT- 846.7 TPS, NFT- 845.2 TPS (Queue Length: QL, Send Rate (TPS): SR). Figure 10. NFT Bulk Read Operation. Peak Throughput 13 TPS (Queue Length: QL, Send Rate (TPS): SR). 4.3. Comparison of Non Fungible Tokens and Fungible Tokens An advantage of the NFT implementation is that it allows the seller of energy assets to set different prices for different tokens of the same token type. Similarly, this imple- mentation permits the actor offering rewards to set different conditions for rewards of the same type. However, in cases where standardization of assets is a requirement, the FT implementation offers an advantage as it ensures uniformity between tokens of the same token type. FT maintain an updated count of tokens for each token type for each client in a single token, so that each client has at most 6 tokens or accounts. Thus, the total count of all energy assets of a particular type owned by a client, can be retrieved in a single read operation using Algorithm 2. This algorithm has time and space complexities of O(1) as explained in Section 3.5. In our implementation, the peak throughput for read operation was over 845 TPS with sub second latency as shown in Figure 9. In the NFT implementation, a client can have several tokens of the same token type. Thus, in order to retrieve a list of all energy assets of a type owned by a client, a bulk read operation needs to be performed using Algorithm 7. As explained in Section 3.5, this algorithm has time and space complexities of O(n) as the time and space required to run this algorithm depends on the number of tokens to be retrieved. In our implementation, we tested the performance for a bulk read operation for 10,000 transactions in each iteration,

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