Secret NFT
Last updated
Last updated
NFTs (Non-Fungible Tokens) have gained popularity as a way to represent ownership of unique digital assets. They are often associated with blockchain technology where ownership records are transparent and cannot be duplicated or forged. In the context of a network society, shared economy, and decentralized identities, NFTs play a role in redefining ownership and enabling partial, temporary, and delegated shared ownership of digital assets. This means that ownership of an NFT can be transferred or shared among multiple parties, and it can also include time-limited access rights.
As the world becomes more connected with autonomous AI-powered IoT devices, managing assets, including keys, becomes crucial. This implies that in addition to managing the ownership of digital assets through NFTs, effective key management methods should be considered to maintain security and control over these assets.
While NFTs use decentralized technology, DKMS refers to the secure storage and management of cryptographic keys in a decentralized manner. NFTs and DKMS are used together to enable secure and transparent ownership and transfer of digital assets. However, it’s important to note NFTs themselves are not a direct application of DKMS. Instead, DKMS can be utilized to enhance the security and privacy aspects of NFT ownership. DKMS can be used to add confidentiality to NFTs by enabling secure and private ownership of the NFT media content:
1. Generation of Keys: Each user generates a pair of cryptographic keys — a public key and a private key. The private key is kept secret and is used to sign transactions, while the public key is shared publicly.
2. Ownership Verification: When an NFT is created, its ownership is associated with the owner’s public key. This linkage is stored on the blockchain or decentralized ledger, making it publicly verifiable.
3. Confidential Transactions: The private key allows the owner to prove ownership and transfer the NFT without revealing their identity or sensitive information. The transfer can be cryptographically signed with the private key and broadcast to the network.
4. Decentralized Storage: The NFT’s metadata and ownership details can be stored decentrally, ensuring resilience and availability without relying on a single point of failure.
5. Extensibility: Each confidential NFT can contain another private key, source code, or NFT for more complex applications.
