Web3 Decentralized Blockchain Based NFT Framework... Applications

Smart overview of the Invention

The proposed framework introduces a decentralized blockchain-based NFT system designed to enhance privacy, security, and confidentiality for buyers and sellers. It integrates advanced technologies such as Zero Trust Security, Digital Rights Management (DRM), and Self-Sovereign Identity Management. The framework also supports Ricardian contracts, NFT ownership validation, and decentralized storage using IPFS. Furthermore, it facilitates real-time communications through WebRTC-QUIC and ensures cross-chain interoperability for tokenizing illiquid digital assets like patents and research papers.

Background

Current NFT platforms face numerous security challenges including vulnerabilities in user authentication, identity management, and digital wallets. They are also susceptible to counterfeit NFT creation and fraudulent trading practices. Significant financial losses have been reported due to cyber-attacks on NFT systems. The necessity for a secure platform is underscored by these vulnerabilities and the increasing value of digital assets represented by NFTs.

Key Features

The framework is built around a "Zero Trust NFT Security Enclave," ensuring private NFT transactions with complete anonymity. It employs public-key encryption, zero knowledge proofs (ZKP), multi-party computation (MPC), and homomorphic encryption to protect user identities and data. The system supports both public and private metadata transactions on the blockchain, allowing for secure validation of digital art or intellectual property without public exposure.

Private NFT Platform

This platform empowers content creators by protecting their digital rights and offering optional private metadata presentation. It supports use cases like secure links to high-value pictures or games with hidden features. By enabling private ownership of NFTs, the platform prevents public exposure of valuable assets. Creators can control access to their work, providing watermarked previews while keeping full versions private until purchase.

System Architecture

• Web3 Client Platform: Incorporates application logic with JavaScript, HTML, and CSS.
• Ethereum Blockchain Module: Facilitates smart contracts and decentralized IDs.
• Zero Trust Security Platform: Includes DRM, zero knowledge proofs, multi-party computation, and encryption.
• NFT Marketplace Module: Handles ownership verification and certification for sellers and buyers.
• P2P Decentralized Network Module: Utilizes DRM, IPFS, and WebRTC-QUIC for secure communication.
• Mint NFT Module: Manages registration through self-sovereign IDs and digital wallets.
• On-chain Module: Authenticates buyers using SSI and interacts with indexing protocols for data access.