Blockchain Based Intelligent System for Non-Fungible Token: A Novel Approach

Blockchain Based Intelligent System for Non-Fungible Token: A Novel Approach
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© 2024 by IJETT Journal
Volume-72 Issue-7
Year of Publication : 2024
Author : Vijaya U. Pinjarkar, Vaishali V. Sarbhukan, Jyoti S. More
DOI : 10.14445/22315381/IJETT-V72I7P136

How to Cite?

Vijaya U. Pinjarkar, Vaishali V. Sarbhukan, Jyoti S. More, "Blockchain Based Intelligent System for Non-Fungible Token: A Novel Approach," International Journal of Engineering Trends and Technology, vol. 72, no. 7, pp. 330-338, 2024. Crossref, https://doi.org/10.14445/22315381/IJETT-V72I7P136

Abstract
Non-Fungible Tokens (NFTs) have become increasingly popular as a means of trading digital assets on NFT marketplaces. However, most NFT marketplaces are centralized and owned by a single entity, leading to issues such as high fees, lack of transparency, and censorship. Furthermore, there are many challenges faced while implementing and deploying an actual system to a test or production network. The purpose of this research paper is to analyse the current state of NFT marketplaces and implement a decentralized NFT marketplace using blockchain technology, along with evaluating the challenges faced in the process. The study uses a mixed-methods approach, including surveying several existing systems and previous implementations to identify the challenges and opportunities faced by creators and buyers in the current NFT marketplace ecosystem. Additionally, development and implementation use technologies such as React for the front end, Truffle and Ganache for the back end, and “Metamask” as the wallet to develop the proposed decentralized NFT marketplace. The outcome of this research will contribute to the development of a more open and decentralized economy for digital creators and buyers for a greater level of transparency in transactions.

Keywords
Blockchain, Non-fungible tokens, Decentralized apps (dapps), React, Ganache, Truffle, Metamask.

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