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

Abstract

Various start-up developers and academic researchers have investigated the\nusage of blockchain as a data storage medium due to the advantages offered by\nits tamper-proof and decentralized nature. However, there have not been many\nattempts to provide a standard platform for virtually storing the states of\nunique tangible entities and their subsequent modifications. In this paper, we\npropose NFTracer, a non-fungible token tracking proof-of-concept based on\nHyperledger Composer and Hyperledger Fabric Blockchain. To achieve the\ncapabilities of our platform, we use NFTracer to build an artwork auction and a\nreal estate auction, which vary in technical complexity and demonstrate the\nadvantages of being able to track entities and their resulting modifications in\na decentralized manner. We also present its accompanying modular architecture\nand system components, and discuss possible future works on NFTracer.\n