Kyungchan Ko, Taeyeol Jeong, Jongsoo Woo, James Won-Ki Hong
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Ethereum has become the main platform for NFT projects because it provides support for smart contracts. Currently, almost all NFT projects are launched on the Ethereum blockchain. NFT has two major standards called ERC-721 and ERC-1155, which have had important functions in the development of NFT. Starting with these two standards, other standards for NFT continue to emerge; they expand the functionality of NFT such as by adding utility. However, NFT is a very early technology, and it has not been long after the NFT concept was created and used. So there are several challenges for further improving NFT technology, in terms of usability, interoperability, and evolution. This paper presents a survey of NFT, including its history, technologies, standards, and challenges of NFT.</p>","PeriodicalId":14154,"journal":{"name":"International Journal of Network Management","volume":"34 1","pages":""},"PeriodicalIF":1.5000,"publicationDate":"2023-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"Survey on blockchain-based non-fungible tokens: History, technologies, standards, and open challenges\",\"authors\":\"Kyungchan Ko, Taeyeol Jeong, Jongsoo Woo, James Won-Ki Hong\",\"doi\":\"10.1002/nem.2245\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>This paper presents a survey of non-fungible tokens (NFTs), including its history, technologies, standards, and challenges in their development. An NFT is a unique digital entity that is created and maintained using blockchain technology. Each NFT is identified using a unique smart contract and a token ID, so the whole history of the NFT can be globally identified by its address and token ID. The blockchain information indelibly identifies the current owner of any asset, previous owners, and original creator. NFTs are used to manage ownership of digital and physical assets and cryptocurrencies. The prices of popular NFTs have become very high, and the market for them has overheated in recent years. NFT technology and its ecosystem have evolved since Quantum, the first NFT, was stored in the Namecoin blockchain. Ethereum has become the main platform for NFT projects because it provides support for smart contracts. Currently, almost all NFT projects are launched on the Ethereum blockchain. NFT has two major standards called ERC-721 and ERC-1155, which have had important functions in the development of NFT. Starting with these two standards, other standards for NFT continue to emerge; they expand the functionality of NFT such as by adding utility. However, NFT is a very early technology, and it has not been long after the NFT concept was created and used. So there are several challenges for further improving NFT technology, in terms of usability, interoperability, and evolution. 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Survey on blockchain-based non-fungible tokens: History, technologies, standards, and open challenges
This paper presents a survey of non-fungible tokens (NFTs), including its history, technologies, standards, and challenges in their development. An NFT is a unique digital entity that is created and maintained using blockchain technology. Each NFT is identified using a unique smart contract and a token ID, so the whole history of the NFT can be globally identified by its address and token ID. The blockchain information indelibly identifies the current owner of any asset, previous owners, and original creator. NFTs are used to manage ownership of digital and physical assets and cryptocurrencies. The prices of popular NFTs have become very high, and the market for them has overheated in recent years. NFT technology and its ecosystem have evolved since Quantum, the first NFT, was stored in the Namecoin blockchain. Ethereum has become the main platform for NFT projects because it provides support for smart contracts. Currently, almost all NFT projects are launched on the Ethereum blockchain. NFT has two major standards called ERC-721 and ERC-1155, which have had important functions in the development of NFT. Starting with these two standards, other standards for NFT continue to emerge; they expand the functionality of NFT such as by adding utility. However, NFT is a very early technology, and it has not been long after the NFT concept was created and used. So there are several challenges for further improving NFT technology, in terms of usability, interoperability, and evolution. This paper presents a survey of NFT, including its history, technologies, standards, and challenges of NFT.
期刊介绍：
Modern computer networks and communication systems are increasing in size, scope, and heterogeneity. The promise of a single end-to-end technology has not been realized and likely never will occur. The decreasing cost of bandwidth is increasing the possible applications of computer networks and communication systems to entirely new domains. Problems in integrating heterogeneous wired and wireless technologies, ensuring security and quality of service, and reliably operating large-scale systems including the inclusion of cloud computing have all emerged as important topics. The one constant is the need for network management. Challenges in network management have never been greater than they are today. The International Journal of Network Management is the forum for researchers, developers, and practitioners in network management to present their work to an international audience. The journal is dedicated to the dissemination of information, which will enable improved management, operation, and maintenance of computer networks and communication systems. The journal is peer reviewed and publishes original papers (both theoretical and experimental) by leading researchers, practitioners, and consultants from universities, research laboratories, and companies around the world. Issues with thematic or guest-edited special topics typically occur several times per year. Topic areas for the journal are largely defined by the taxonomy for network and service management developed by IFIP WG6.6, together with IEEE-CNOM, the IRTF-NMRG and the Emanics Network of Excellence.
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