dc.contributor.author |
Bellagarda, J
|
|
dc.contributor.author |
Abu-Mahfouz, Adnan MI
|
|
dc.date.accessioned |
2023-02-26T08:14:43Z |
|
dc.date.available |
2023-02-26T08:14:43Z |
|
dc.date.issued |
2022-10 |
|
dc.identifier.citation |
Bellagarda, J. & Abu-Mahfouz, A.M. 2022. Connect2NFT: A web-based, blockchain enabled NFT Application with the Aim of Reducing Fraud and ensuring authenticated social, non-human verified digital identity. <i>Mathematics, 10(21).</i> http://hdl.handle.net/10204/12615 |
en_ZA |
dc.identifier.issn |
2227-7390 |
|
dc.identifier.uri |
https://doi.org/10.3390/math10213934
|
|
dc.identifier.uri |
http://hdl.handle.net/10204/12615
|
|
dc.description.abstract |
As of 2022, non-fungible tokens, or NFTs, the smart contract powered tokens that represent ownership in a specific digital asset, have become a popular investment vehicle. In 2021, NFT trading reached USD 17.6 billion and entered mainstream media with several celebrities and major companies launching tokens within the space. The rapid rise in popularity of NFTs has brought with it a number of risks and concerns, two of which will be discussed and addressed in this technical paper. Data storage of the underlying digital asset connected to an NFT is held off-chain in most cases and is therefore out of the NFT holders’ control. This issue will be discussed and addressed using a theoretical workflow developed and presented for a system that converges NFTs and verifiable credentials with the aim of storing underlying NFT digital assets in a decentralized manner. The second issue focuses on the rise of NFT infringements and fraud within the overall NFT space. This will be discussed and addressed through the development of a practical application, named “Connect2NFT”. The main functionality of this practical application will enable users to connect their Twitter social media accounts to the NFTs they own, thus ensuring that potential buyers or viewers of the NFT can comprehensively conclude who is the authentic owner of a specific NFT. An individual performance analysis of the proposed solution will be conducted in addition to being compared and evaluated against similar applications. Thorough development, implementation, and testing has been performed in order to establish a practical solution that can be tested and applied to current NFT use cases. The theoretical NFT storage solution is a minor but equally important contribution in comparison. |
en_US |
dc.format |
Fulltext |
en_US |
dc.language.iso |
en |
en_US |
dc.relation.uri |
https://www.mdpi.com/2227-7390/10/21/3934 |
en_US |
dc.source |
Mathematics, 10(21) |
en_US |
dc.subject |
Aim of Reducing Fraud |
en_US |
dc.subject |
Digital identity |
en_US |
dc.subject |
Blockchain technology |
en_US |
dc.subject |
InterPlanetary File System |
en_US |
dc.subject |
IPFS |
en_US |
dc.subject |
Non-fungible tokens |
en_US |
dc.subject |
Smart contract |
en_US |
dc.subject |
Social media |
en_US |
dc.subject |
Twitter |
en_US |
dc.subject |
Verifiable credentials |
en_US |
dc.title |
Connect2NFT: A web-based, blockchain enabled NFT Application with the Aim of Reducing Fraud and ensuring authenticated social, non-human verified digital identity |
en_US |
dc.type |
Article |
en_US |
dc.description.pages |
25 |
en_US |
dc.description.note |
Copyright: © 2022 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). |
en_US |
dc.description.cluster |
Next Generation Enterprises & Institutions |
en_US |
dc.description.impactarea |
EDT4IR Management |
en_US |
dc.identifier.apacitation |
Bellagarda, J., & Abu-Mahfouz, A. M. (2022). Connect2NFT: A web-based, blockchain enabled NFT Application with the Aim of Reducing Fraud and ensuring authenticated social, non-human verified digital identity. <i>Mathematics, 10(21)</i>, http://hdl.handle.net/10204/12615 |
en_ZA |
dc.identifier.chicagocitation |
Bellagarda, J, and Adnan MI Abu-Mahfouz "Connect2NFT: A web-based, blockchain enabled NFT Application with the Aim of Reducing Fraud and ensuring authenticated social, non-human verified digital identity." <i>Mathematics, 10(21)</i> (2022) http://hdl.handle.net/10204/12615 |
en_ZA |
dc.identifier.vancouvercitation |
Bellagarda J, Abu-Mahfouz AM. Connect2NFT: A web-based, blockchain enabled NFT Application with the Aim of Reducing Fraud and ensuring authenticated social, non-human verified digital identity. Mathematics, 10(21). 2022; http://hdl.handle.net/10204/12615. |
en_ZA |
dc.identifier.ris |
TY - Article
AU - Bellagarda, J
AU - Abu-Mahfouz, Adnan MI
AB - As of 2022, non-fungible tokens, or NFTs, the smart contract powered tokens that represent ownership in a specific digital asset, have become a popular investment vehicle. In 2021, NFT trading reached USD 17.6 billion and entered mainstream media with several celebrities and major companies launching tokens within the space. The rapid rise in popularity of NFTs has brought with it a number of risks and concerns, two of which will be discussed and addressed in this technical paper. Data storage of the underlying digital asset connected to an NFT is held off-chain in most cases and is therefore out of the NFT holders’ control. This issue will be discussed and addressed using a theoretical workflow developed and presented for a system that converges NFTs and verifiable credentials with the aim of storing underlying NFT digital assets in a decentralized manner. The second issue focuses on the rise of NFT infringements and fraud within the overall NFT space. This will be discussed and addressed through the development of a practical application, named “Connect2NFT”. The main functionality of this practical application will enable users to connect their Twitter social media accounts to the NFTs they own, thus ensuring that potential buyers or viewers of the NFT can comprehensively conclude who is the authentic owner of a specific NFT. An individual performance analysis of the proposed solution will be conducted in addition to being compared and evaluated against similar applications. Thorough development, implementation, and testing has been performed in order to establish a practical solution that can be tested and applied to current NFT use cases. The theoretical NFT storage solution is a minor but equally important contribution in comparison.
DA - 2022-10
DB - ResearchSpace
DP - CSIR
J1 - Mathematics, 10(21)
KW - Aim of Reducing Fraud
KW - Digital identity
KW - Blockchain technology
KW - InterPlanetary File System
KW - IPFS
KW - Non-fungible tokens
KW - Smart contract
KW - Social media
KW - Twitter
KW - Verifiable credentials
LK - https://researchspace.csir.co.za
PY - 2022
SM - 2227-7390
T1 - Connect2NFT: A web-based, blockchain enabled NFT Application with the Aim of Reducing Fraud and ensuring authenticated social, non-human verified digital identity
TI - Connect2NFT: A web-based, blockchain enabled NFT Application with the Aim of Reducing Fraud and ensuring authenticated social, non-human verified digital identity
UR - http://hdl.handle.net/10204/12615
ER -
|
en_ZA |
dc.identifier.worklist |
26511 |
en_US |