NFTracer: A Non-Fungible Token Tracking Proof-of-Concept Using Hyperledger Fabric

Understand

Various start-up developers and academic researchers have investigated the usage of blockchain as a data storage medium due to the advantages offered by its tamper-proof and decentralized nature.

• However, there have not been many attempts to provide a standard platform for virtually storing the states of unique tangible entities and their subsequent modifications.
• In this paper, we propose NFTracer, a non-fungible token tracking proof-of-concept based on Hyperledger Composer and Hyperledger Fabric Blockchain.
• To achieve the capabilities of our platform, we use NFTracer to build an artwork auction and a real estate auction, which vary in technical complexity and demonstrate the advantages of being able to track entities and their resulting modifications in a decentralized manner.