Home NFT Exploring Schrödinger’s NFT in Secure Data Exchange with Apillion’s CTO | CryptoTvplus

Exploring Schrödinger’s NFT in Secure Data Exchange with Apillion’s CTO | CryptoTvplus

by Melai Briones

The co-founder and CTO of Apillion, Tadej Vengust, recently presented Schrödinger NFTs at the Sub0 conference. This innovative concept aims to enhance data exchange and security in the Web3 space.

Schrödinger’s NFTs introduce a groundbreaking method to secure digital files and assets in a way that goes beyond traditional NFT art forms. This innovation utilizes an NFT key that grants exclusive access to hidden files. Only the owner can share the designated NFT key, and possessing it is necessary to decrypt and access the files.

Tadej explained that Schrödinger’s NFT combines the capabilities of three Polkadot parachains: Moonbeam (or Astar), Crust, and Phala. Although it is currently in the proof-of-concept phase, this technology showcases the potential of multi-chain use cases.

The concept of Schrödinger’s NFT originated from research into Phala, which is a parachain enabling cloud computing through trusted execution environments. This approach allows code to run on CPUs with secure chips without revealing its contents, adding a new dimension to distributed computing.

Phala has its peculiarities, such as limitations in HTTP requests and memory usage. It utilizes Rust, a language gaining traction in the Web3 community, and employs encrypted storage. Each Phala contract gets a private key known only to itself, enabling private key derivations and true randomness.

The concept behind Schrödinger’s NFT involves associating an NFT ID with a CID (Content Identifier) for an IPFS file. A unique encryption key, known only to the contract, is generated. Users with the NFT can upload, encrypt, and store files on IPFS, and accessing and decrypting these files requires ownership of the associated NFT, ensuring verifiability and security.

Tadej demonstrated the deployment of Schrödinger’s NFT on three different parachains: Phala, Moonbeam, and Cross. While there may be certain limitations of Phala contracts, such as file size constraints and execution time limits, Apillion continues to work on expanding and enhancing the capabilities of Schrödinger’s NFT.

The presentation also highlighted several real-world use cases for Schrödinger’s NFT. These range from secure real estate transactions, where associated documents move with the NFT, to password keepers and storing digital credentials.

Although Schrödinger’s NFT utilizes Apillion’s platform for certain functionalities, Tadej emphasized that the underlying technology is fully decentralized. Users have the option to revoke ownership or transfer their NFTs to their Phala accounts, ensuring complete control.

Apillion’s mission is to accelerate the adoption of Web3 by empowering its builders. Extensive research on various parachains, blockchains, IPFs, and decentralized protocols is conducted to achieve this mission.

Overall, Schrödinger’s NFTs present a novel and secure approach to storing and sharing digital files and assets. By combining the capabilities of multiple parachains, this innovation showcases the potential of multi-chain use cases in the Web3 space.

You may also like

@2023 – All Right Reserved. Developed by Crypto Explorers