Efficient quantum non-fungible tokens for blockchain

• URL: http://arxiv.org/abs/2209.02449v1
• Date: Fri, 2 Sep 2022 13:36:55 GMT
• Title: Efficient quantum non-fungible tokens for blockchain
• Authors: Subhash Shankar Pandey, Tadasha Dash, Prasanta K. Panigrahi, and Ahmed Farouk
• Abstract summary: Non-fungible tokens (NFTs) consolidate the best characteristics of blockchain technology to deliver unique and bona fide tokens. Current classical NFTs are suffering from high costs regarding the consumed power of mining and lack of security. This paper presents a new protocol for preparing quantum non-fungible tokens where a quantum state representing NFT is mounted on a blockchain instead of physically giving it to the owner.
• Score: 0.0
• License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
• Abstract: Blockchain is a decentralized system that allows transaction transmission and storage according to the roles of the Consensus algorithm and Smart contracts. Non-fungible tokens (NFTs) consolidate the best characteristics of blockchain technology to deliver unique and bona fide tokens, each with distinctive attributes with non-fungible resources. Unfortunately, current classical NFTs are suffering from high costs regarding the consumed power of mining and lack of security. Therefore, this paper presents a new protocol for preparing quantum non-fungible tokens where a quantum state representing NFT is mounted on a blockchain instead of physically giving it to the owner. The proposed scheme is simulated and analyzed against various attacks and proves its ability to secure against them. Furthermore, the presented protocol provides reliable and cheaper NFTs than the classical one.

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