Tokenization

The Tokenization allows users to securely notarize files on the Algorand blockchain, creating unique NFTs that ensure authenticity and immutable record-keeping.

The Tokenization allows users to securely notarize files on the Algorand blockchain, creating unique NFTs that ensure authenticity and immutable record-keeping.

The notarizion function is the main function of the program, handling the notarization process, which is at the heart of the app's entire tokenization process. It calculates the file's SHA-256 hash to ensure uniqueness.

An Asset's Metadata is created, with this structure:

Notarization_metadata = {
        "name": file_name,
        "description": description,
        "file_stored": bool,
        "file_hash_SHA256": hash_sha256,
        "signers": [],
        "signatures": [],
    }

ARC-0019 Algorand Standard Asset

The process culminates with the creation of a new Create Asset transaction on the Algorand blockchain, adhering to the ARC19 standard. https://github.com/algorandfoundation/ARCs/blob/main/ARCs/arc-0019.md

The transaction generates a unique token (NFT), with as asset name a 32 bytes string obtained from the HASH sha-256 with the folding algorithm, linking the metadata to the blockchain with the obtained Reserve address, introducing an element of controlled mutability to the Token. The creation of this NFT acts as definitive proof that the file has been registered on the blockchain. This immutable and verifiable record significantly boosts the security and authenticity of the entire tokenization process, ensuring that the details of the notarized file are permanently and securely recorded.

Alright, time to notarize a file on Toknox! Let's walk through the steps.

Tokenize a file