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Sensors 2021, 21, 3822 25 of 32 where each transaction retrieves 10,000 NFT. As shown in Figure 10, the peak throughput was 13 TPS, while average latency was over 18 seconds. Due to this, while getting all FT for a client can be executed on chain, getting all NFT may need to be executed off-chain. Moreover, Baliga et al. [37] have shown that with the increase in number of total tokens on the state, the read performance suffers marginally, which could be an issue for NFT implementations, for a very large number of tokens in state. Thus, FT have a clear advantage in terms of retrieving all assets of a given type owned by a client. FT implementations, however, have limitations with concurrent execution of transac- tions. When two operations try to update the same token, for instance when two buyers try to bid on the same token or when two sellers try to transfer value to the same token, at most one operation will succeed. NFT implementations avoid this problem. When creating or transferring a NFT, a new token is created each time with a distinct key which avoids the problem of contention. Moreover, the issue of accepting multiple bids on the same token does not arise for NFT. Thus, in terms of concurrent execution of transactions, NFT implementations have a clear advantage. Another implementation specific consideration is the size of the token. As a single FT token accepts multiple bids, the size of the token increases, which can degrade the performance of the network [37,38]. So, specific implementations could consider setting a maximum number of unprocessed bids a token can have at any given time. Additionally, we have shown that while Create, Bid, Transfer and Redeem operations are similar in performance for FT and NFT, ReCreate and ReTransfer in FT are faster than Create and Transfer respectively, for both FT and NFT. This is due to the fact that the tokens with associated endorsement policies already exist in case of ReCreate and Retransfer oper- ations of FT as discussed in Section 4.2. Thus, neither of the implementations, FT or NFT have a complete advantage over the other in all respects and the choice of implementation will depend on the specific use case. 4.4. Limitations and Future Work In any transaction system, prevention of double spending is an important considera- tion. Hyperledger Fabric implements Multiversion concurrency control (MVCC) in order to prevent double spending. This means that when multiple operations try to update the same key at the same time, all but one update will fail. FT tokens function like accounts where each client has at most six accounts in our implementation. For instance if two sellers attempt to transfer value to the same token belonging to a buyer, only one of those transfers will complete successfully. The NFT implementation when creating tokens uses the transaction ID and creates new NFT each time with no duplicated keys. Similarly, transfers also create new NFT for the recipient each time, thus preventing contention. Contention is a consideration whenever two processes seek to update a common resource and thus inherent in any account based implementation. This limitation can be addressed by queuing of transactions. For EUnit and EVUnit, both the buyer and seller are clients of the Transaction Platform. The Transaction Platform application could thus queue the sending of transactions for endorsement and ordering and postpone sending of other transactions that update the same key until the first one has completed or failed. For InUnit, GaUnit, StUnit and EStUnit, the create operation originates from the Power Company and Storage Provider respectively. These could thus be queued by their respective applications. Alternatively, as tokens are created for each client, for each token type, newer types of tokens or extra clients can be added to create more tokens that can then be simultaneously updated. For tokens that receive a high number of transactions, a running total approach can be considered where several FT of the same token type are created, that are consolidated periodically. The bidding operation on InUnit, GaUnit, StUnit and EStUnit is invoked by clients of the Transaction Platform which can be queued by its application. Similarly,PDF Image | Blockchain Based Transaction System with NFT
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