PDF Publication Title:
Text from PDF Page: 013
6.2 Security and Privacy Issues - High gas prices. High gas prices have become a major problem for NFT marketplaces, especially when minting the NFTs at a large scale that requires uploading the metadata to the blockchain network. Every NFT-related trans- actions are more expensive than a simple transfer transaction because smart contracts involve computational resources and storage to be processed. At the time of writing, to mine an NFT token costs over USD 60 (equivalently in around 5 × 102wei) 10. To complete a simple NFT trade can run between USD 60 and USD 100 for each transaction. Expensive fees caused by complex operations and high congestion greatly limit its wide adoption. The data from users is at the first priority of any systems. However, the data (stored off-chain but relates to on-chain tags) confronts the risk of losing linkage or being misused by malicious parties. We give details as follows. - NFT data inaccessibility. In the mainstream NFT projects [2,1,3], a cryp- tographic “hash” as the identifier, instead of a copy of the file, will be tagged with the token and then recorded on the blockchain to save the gas consump- tion. This makes the user lose confidence in the NFT because the original file might be lost or damaged. Several NFT projects integrate their system with a specialized file storage system such as IPFS [68] in which IPFS ad- dresses allow users to find a piece of content so long as someone somewhere on the IPFS network is hosting it. Still, such systems have inevitable flaws. When the users “upload” NFT metadata to IPFS nodes, there is no guar- antee that their data will be replicated among all the nodes. The data may become unavailable if the asset is stored on IPFS and the only node storing it is disconnected from the network [69]. This issue has been reported by DECRYPT.IO [69] and CHECKMYNFT.COM [72]. Also, an NFT might point to an erroneous file address. If that is the case, a user cannot prove that s/he actually owns the NFT. In a word, Relying on an external system as the core component (storage) for an NFT system is vulnerable. - Anonymity/Privacy. In the current stage, the anonymity and privacy of NFTs are still understudied. Most NFT transactions rely on their underly- ing Ethereum platform, which only provides pseudo-anonymity rather than strict anonymity or privacy. Users can partially hide their identities if the links between their real identities and corresponding addresses are known by the public. Otherwise, all the activities of users under the exposed address are observable. Existing privacy-preserving solutions (e.g. homomorphic en- cryption [108], zero-knowledge proof [110], ring signature [95], multi-party computation [97]) have not been yet applied to the NFT-related schemes due to their complicated cryptographic primitives and security assumptions. Similar to other types of blockchain-based systems, decreasing expensive computation costs becomes the key to implement privacy-promised schemes. 10 Source calculated from https://coinmarketcap.com/ and https://ethereum.org /en/developers/docs/gas/ 13PDF Image | Non-Fungible Token (NFT): Overview, Evaluation, Opportunities
PDF Search Title:
Non-Fungible Token (NFT): Overview, Evaluation, OpportunitiesOriginal File Name Searched:
NFT_Overview_Evaluation_Opp.pdfDIY PDF Search: Google It | Yahoo | Bing
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
IT XR Project Redstone NFT Available for Sale: NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Be part of the future with this NFT. Can be bought and sold but only one design NFT exists. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Turbine IT XR Project Redstone Design: NFT for sale... NFT for high tech turbine design with one part 3D printed counter-rotating energy turbine. Includes all rights to this turbine design, including license for Fluid Handling Block I and II for the turbine assembly and housing. The NFT includes the blueprints (cad/cam), revenue streams, and all future development of the IT XR Project Redstone... More Info
Infinity Turbine ROT Radial Outflow Turbine 24 Design and Worldwide Rights: NFT for sale... NFT for the ROT 24 energy turbine. Be part of the future with this NFT. This design can be bought and sold but only one design NFT exists. You may manufacture the unit, or get the revenues from its sale from Infinity Turbine. Royalties go to the developer (Infinity) to keep enhancing design and applications... More Info
Infinity Supercritical CO2 10 Liter Extractor Design and Worldwide Rights: The Infinity Supercritical 10L CO2 extractor is for botanical oil extraction, which is rich in terpenes and can produce shelf ready full spectrum oil. With over 5 years of development, this industry leader mature extractor machine has been sold since 2015 and is part of many profitable businesses. The process can also be used for electrowinning, e-waste recycling, and lithium battery recycling, gold mining electronic wastes, precious metals. CO2 can also be used in a reverse fuel cell with nafion to make a gas-to-liquids fuel, such as methanol, ethanol and butanol or ethylene. Supercritical CO2 has also been used for treating nafion to make it more effective catalyst. This NFT is for the purchase of worldwide rights which includes the design. More Info
NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
Infinity Turbine Products: Special for this month, any plans are $10,000 for complete Cad/Cam blueprints. License is for one build. Try before you buy a production license. May pay by Bitcoin or other Crypto. Products Page... More Info
| CONTACT TEL: 608-238-6001 Email: greg@infinityturbine.com | RSS | AMP |