Silver Redemption System on Blockchain With Cost Analysis in Ethereum Virtual Machine Ecosystem

Abstract

The growing demand for digital access to precious metals has created opportunities for ownership systems that are transparent, secure, and globally accessible. This article presents a blockchain-based silver tokenization framework enabling customers to buy, hold, and redeem physical silver through verifiable on-chain records. A hybrid token model combines fungible tokens for value representation and nonfungible tokens for bar certificates. After building the core smart contract architecture, the next step is deployment. Given the growing number of platforms, identifying the most cost-efficient option is essential. This article compares six Ethereum virtual machine-compatible blockchains and evaluates them based on gas fees and operational cost.