A Smart Card based Approach for Privacy Preservation Authentication of Non-Fungible Token using Non-Interactive Zero Knowledge Proof

Abstract

The adaption of the NFT to the mainstream web3 marketplace has led to the rise of challenges like authenticity and verification. On the other hand, privacy-preserving is one of the important research topics in the data-driven metaverse due to its anonymity while maintaining transparency and security. As the traditional method does not preserve privacy, there is a dire need for a novel privacy-preserving method for NFT authentication while preserving anonymity, transparency, and security. This paper proposes a smart card-based approach for privacy preservation authentication of Non-Fungible Tokens using Non-Interactive Zero Knowledge Proof (NIZKP). The paper presents a Novel NIZKP response with the integration of challenge and proof with the encapsulation of a time-based one-time password (TOTP) solution to address the most critical problem of the proof of the source of the NFT and its rightful owner. The proposed solution is a lightweight mechanism for preventing unauthorized and hostile agents from the accessibility of the system while maintaining privacy and anonymity along with the verification and authenticity of the NFT. We have implemented our approach and compared the communication overhead and functional security features with related work and its precedence over them. The results show that the proposed approach has less communication overhead than the existing work and fulfills all the functional security and privacy-preserving features. It indicates that the proposed method can be an ideal solution for NFT authentication and transaction among users.