Towards Proxy Staking Accounts Based on NFTs in Ethereum

• URL: http://arxiv.org/abs/2404.14074v1
• Date: Mon, 22 Apr 2024 10:35:26 GMT
• Title: Towards Proxy Staking Accounts Based on NFTs in Ethereum
• Authors: Viktor Valaštín, Roman Bitarovský, Kristián Košťál, Ivan Kotuliak,
• Abstract summary: This paper describes an innovative approach to blockchain networks based on a non-fungible token that behaves as an account (NFTAA) The key novelty of this article is using NFTAA to leverage the unique properties of NFTs to manage your ownership better and effectively isolate them to improve the security, transparency, and even interoperability possibilities.
• Score: 0.0
• License: http://creativecommons.org/licenses/by/4.0/
• Abstract: Blockchain is a technology that is often used to share data and assets. However, in the decentralized ecosystem, blockchain-based systems can be utilized to share information and assets without the traditional barriers associated with solo responsibility, e.g., multi-sig wallets. This paper describes an innovative approach to blockchain networks based on a non-fungible token that behaves as an account (NFTAA). The key novelty of this article is using NFTAA to leverage the unique properties of NFTs to manage your ownership better and effectively isolate them to improve the security, transparency, and even interoperability possibilities. Additionally, the account-based solution gives us the ability and flexibility to cover regular use cases such as staking and liquid equities, but also practical composability. This article offers a simple implementation, which allows developers and researchers to choose the best solution for their needs in demand of abstract representation in any use case.

Related papers

• A Privacy-Preserving DAO Model Using NFT Authentication for the Punishment not Reward Blockchain Architecture [0.0]
  This paper presents a novel decentralized autonomous organization (DAO) model leveraging non-fungible tokens (NFTs) By prioritizing privacy, security, and deterrence over financial rewards, this model addresses key challenges in existing blockchain incentive structures.
  arXiv  Detail & Related papers  (2024-05-21T18:53:15Z)
• IT Strategic alignment in the decentralized finance (DeFi): CBDC and digital currencies [49.1574468325115]
  Decentralized finance (DeFi) is a disruptive-based financial infrastructure. This paper seeks to answer two main questions 1) What are the common IT elements in the DeFi? And 2) How the elements to the IT strategic alignment in DeFi?
  arXiv  Detail & Related papers  (2024-05-17T10:19:20Z)
• Enhancing Trust and Privacy in Distributed Networks: A Comprehensive Survey on Blockchain-based Federated Learning [51.13534069758711]
  Decentralized approaches like blockchain offer a compelling solution by implementing a consensus mechanism among multiple entities. Federated Learning (FL) enables participants to collaboratively train models while safeguarding data privacy. This paper investigates the synergy between blockchain's security features and FL's privacy-preserving model training capabilities.
  arXiv  Detail & Related papers  (2024-03-28T07:08:26Z)
• Graph Attention Network-based Block Propagation with Optimal AoI and Reputation in Web 3.0 [59.94605620983965]
  We design a Graph Attention Network (GAT)-based reliable block propagation optimization framework for blockchain-enabled Web 3.0. To achieve the reliability of block propagation, we introduce a reputation mechanism based on the subjective logic model. Considering that the GAT possesses the excellent ability to process graph-structured data, we utilize the GAT with reinforcement learning to obtain the optimal block propagation trajectory.
  arXiv  Detail & Related papers  (2024-03-20T01:58:38Z)
• Generative AI-enabled Blockchain Networks: Fundamentals, Applications, and Case Study [73.87110604150315]
  Generative Artificial Intelligence (GAI) has emerged as a promising solution to address challenges of blockchain technology. In this paper, we first introduce GAI techniques, outline their applications, and discuss existing solutions for integrating GAI into blockchains.
  arXiv  Detail & Related papers  (2024-01-28T10:46:17Z)
• Exploration of Hyperledger Besu in Designing Private Blockchain-based Financial Distribution Systems [0.7366405857677227]
  This article focuses on the development of an innovative consortium blockchain based financial distribution application. It demonstrates the diverse applications of blockchain, ranging from remittances to lending and investments in finance to data administration in healthcare and supply chain tracking. The investigation sheds light on the combination of consortium blockchain controlled access and Hyprledger Besu comprehensive functionality.
  arXiv  Detail & Related papers  (2023-11-14T19:18:16Z)
• Aid Nexus : A Blockchain Based Financial Distribution System [0.7366405857677227]
  By leveraging decentralized ledger systems, blockchain offers enhanced security, transparency, and transaction verification without the need for intermediaries. The finance sector is exploring blockchain-based solutions for payments, remittances, lending, and investments. Healthcare adopts the technology for medical record keeping, supply chain tracking, and data management. Other sectors, including real estate, energy, and government, are also investigating blockchain-based solutions.
  arXiv  Detail & Related papers  (2023-11-14T18:35:02Z)
• Enabling Data Confidentiality with Public Blockchains [6.092714083639697]
  Multi-Authority Approach to Transaction Systems for Interoperating Applications (MARTSIA) MARTSIA enables read-access control over shared data at the level of message parts. Based on Multi-Authority Attribute-Based Encryption (MA-ABE), MARTSIA enables read-access control over shared data at the level of message parts.
  arXiv  Detail & Related papers  (2023-08-04T13:21:48Z)
• Efficient quantum non-fungible tokens for blockchain [0.0]
  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.
  arXiv  Detail & Related papers  (2022-09-02T13:36:55Z)
• Quantum-resistance in blockchain networks [46.63333997460008]
  This paper describes the work carried out by the Inter-American Development Bank, the IDB Lab, LACChain, Quantum Computing (CQC), and Tecnologico de Monterrey to identify and eliminate quantum threats in blockchain networks. The advent of quantum computing threatens internet protocols and blockchain networks because they utilize non-quantum resistant cryptographic algorithms.
  arXiv  Detail & Related papers  (2021-06-11T23:39:25Z)
• Regulation conform DLT-operable payment adapter based on trustless - justified trust combined generalized state channels [77.34726150561087]
  Economy of Things (EoT) will be based on software agents running on peer-to-peer trustless networks. We give an overview of current solutions that differ in their fundamental values and technological possibilities. We propose to combine the strengths of the crypto based, decentralized trustless elements with established and well regulated means of payment.
  arXiv  Detail & Related papers  (2020-07-03T10:45:55Z)

This list is automatically generated from the titles and abstracts of the papers in this site.

This site does not guarantee the quality of this site (including all information) and is not responsible for any consequences.