►
From YouTube: Build Your Own NFT with Hyperledger Fabric: Session Two
Description
A virtual workshop conducted on March 31, 2022. The content in this session is a technical workshop for developers that want a hands-on experience. You will need to be familiar with the material from the first session to get full value from this technical session. The second session will include:
* Basics of the Auction App which will be used in the workshop
* Auction App versus Typical public blockchain implementations
* Auction App code structure
* Hands on using the app - Launching, Registering, Creating an NFT, Transfer Transaction
* Home work on adding changes to support another type of media (e.g., music)
* Engaging with the Community and the Lab
This session was run by Mohan Venkataraman, Puneet Singh, Aashish Shrestha, Dilip Manjunatha, Sahinul Haque from ChainYard.
The auction application code is open source and is available as a Hyperledger lab at:
https://github.com/hyperledger-labs/nft-auction
This is the second session in a two-part workshop. The recording of the first session is at:
https://www.youtube.com/watch?v=jyEegXLrNr4
----
Hyperledger – Open Source Blockchain Technologies
Hyperledger is an open source community focused on developing a suite of stable frameworks, tools and libraries for enterprise-grade blockchain deployments.
It serves as a neutral home for various distributed ledger frameworks including Hyperledger Besu, Fabric, Sawtooth, Indy, as well as tools like Hyperledger Avalon, Cactus and libraries like Hyperledger Aries, Ursa. Learn more about Hyperledger projects: https://www.hyperledger.org/use
Discord: https://discord.gg/rVCn4j7UFd
Case Studies: https://www.hyperledger.org/learn/case-studies
Training & Certification: https://www.hyperledger.org/learn/training
Tutorials: https://www.hyperledger.org/use/tutorials
Webinars: https://www.hyperledger.org/learn/webinars
Events: https://www.hyperledger.org/events
Vendor Directory: https://www.hyperledger.org/use/vendor-directory
Subscribe to the Hyperledger Newsletter: https://www.hyperledger.org/newsletter
Follow-us on Twitter @Hyperledger
Learn about Hyperledger Membership: https://www.hyperledger.org/about/join
#Hyperledger #Blockchain
License
Creative Commons Attribution license (reuse allowed)
A
If
ali
you
want
to
get
started,
that'd
be
great.
Yeah,
yeah
you'll
have
to
start
my
video.
Actually,
it
says
guys:
okay.
Well,
let
me
welcome
you,
hello
and
welcome
to
all
of
you.
I'm
ali
mdot
associate
dean
of
the
graves
business
school
at
morgan,
state
university,
it's
an
honor
to
work
with
david
boswell
and
ry
jones
of
hyperledger
and
linux
foundations,
and
we're
also
proud
to
be
a
an
associate
member
of
the
high
pillager
team
community.
A
You
learn
about
the
foundations,
as
well
as
the
fintech
important
developments
in
the
nfts
and
what
nfts
are
about
what
the
market
is
doing
and
also
the
auction
platform
to
to
use.
Our
goal
is
to
to
promote
the
learning
among
all
hvcus,
historically
black
colleges
and
universities,
students
and
faculty,
and
we
will
make
this
workshop
recording
available
to
all
of
them
to
use
in
their
courses
and
classes.
C
All
right,
thank
you
and
well
I
I
would
like
to
introduce
myself.
I
am
mohan
venkat
rahman.
I
am
the
cto
of
chain
yard.
Chain
yard
is
a
global
blockchain
services
company
and
also
has
its
own
platform
start.
My
video
somebody
wants
me
to
show
my
face.
Okay,
all
right,
and
so
we
also
have
a
solutions
group
which
is
called
trust
your
supplier.
It
is
a
joint
venture
with
ibm
and
it's
a
separate
entity.
C
D
C
C
Singh,
philip
banjanat
he's
been
called
to
our
developing
the
workshop
code
itself,
sahelung,
who
has
been
working
on
the
user
interface,
rajiv,
rajesh
and
jivi,
who
has
helped
us
with
the
configuration
of
the
infrastructure
on
aws,
myself
and
obviously
a
lot
of
thanks
to
ry
and
david
for
helping
promote
this
particular
exercise
and
jointly
help
us
to
work
with
morgan
state
university
fintech
center.
To
bring
this
to
you
with
that.
What
I
would
like
to
do
david
is
to
turn
it
over
to
you
on
how
do
people
engage
with
hyperledger
foundation?
How
can
they
collaborate?
B
B
B
C
All
right,
so
I
think
now
we
get
into
the
main
portion
of
the
rest
of
the
agenda
before
I
begin
I'm
trying
to
play
with
my
mouse
here.
So
there's
a
certain
layout
of
this
particular
presentation.
We
have
tried
to
organize
it
to
make
it
more
relevant
to
the
hands-on
exercise
that
we
will
be
doing,
and
we
also
try
to
make
sure
that
there
is
connectivity
to
the
previous
workshop,
which
is
workshop
one.
C
So
we
try
to
do
something
that
is
a
hybrid
that
allows
everybody
to
recap
what
they
learned
previously,
but
we
are
not
going
to
deep
dive
into
what
was
already
said
before.
We
will
look
forward
and
any
questions
that
you
have.
We
are
not
taking
live
questions
at
this
point.
Please
channel
it
through
the
discord
channel
that
we
have
provided
now.
B
C
B
There
so
actually
I
have
a
slide.
Maybe
I
can
show
I
just
wanted
to
give
people
a
bit
of
I
mean
I
saw
that
on
the
workshop
page.
You
guys
did
a
good
job
at
putting
out
some
of
the
basic
information
pointers
to
the
different
pieces
relevant
to
fabric.
What
right
just
talked
about
is,
essentially,
you
know,
general
information
with
regard
to
hyperledger
and
how
to
engage
with
the
hyperledger
community
within
hyperledger.
B
There
are
many
different
projects,
I'm
personally
primarily
involved
in
hyperledger
fabric,
I'm
one
of
the
maintainers
of
some
of
the
repositories
related
to
fabric,
and
so
I
just
wanted
to
give
you
an
idea
of
of
what
you
can
expect
when
it
comes
to
engaging
with
the
fabric
community
itself.
So
you
know
we
have.
First
of
all,
so
I
actually
put
a
qr
code
there.
I
hope
you
see
it.
B
I
list
here
the
main
repositories
fabric
is
where
the
whole
framework
really
resides,
but
fabric
samples.
As
I
said
it's
you
know
as
a
developer
as
of
an
application.
This
is
probably
where
you
will
want
to
start,
and
then
there
is
the
fabric.
Gateway
is
kind
of
like
the
client
apis,
the
sdks
that
you're
going
to
find
and
use
to
program
against
the
fabric
network.
We
actually
support.
B
One
of
the
principles
designs
behind
the
fabric
was
to
allow
and
support
general
purpose
programming
languages,
and
so,
if
you
find
bug
reports-
or
if
you
want
to
try
to
you-
know
work
on
fabric,
a
good
way
is
to
look
into
github
issues.
We
use
github
extensively
and
we
use
issues.
So
you
can
issue,
I
mean
obviously
raise
issues.
It's
not
recommended.
Some
people
use
that
to
raise
questions.
That's
really
not
the
best
way.
It
tends
to
pull
you
to
a
little
bit
the
github
issues.
We
have
other
ways
to
ask
questions.
B
Github
issues
really
should
be
about
problems.
You
have
actually
encountered
not
in
how
you
use
the
application,
the
framework,
but
really
bugs
that
are
in
the
system
and,
as
I
said,
it's
often
a
way
to
also
engage
if
you're
looking
for
something
you
might
be
able
to
contribute.
You
can
look
in
the
list
of
issues
and
you
might
find
some
issues
that
are
actually
quite
addressable,
depending
on
your
skills
and
your
interests
and
for
big
issues,
or
rather,
for
you
know,
bigger
enhancements.
You
want
to
propose.
B
We
actually
have
a
different
process,
called
the
request
for
comments,
rfcs,
and
so
it's
you
know
it's
not
very
wise
to
start
submitting
a
pull
request,
which
is
massive.
That
will
add
a
whole
set
of
new
features
or
like
massive
amount
of
code.
So,
instead
of
investing
a
lot
of
time
in
putting
code
together
and
a
pull
request
before
you
know,
the
community
is
going
to
welcome
this
kind
of
contribution.
B
It
is
wise
to
open
an
rfc
go
through
this
process,
where
basically
you're
documenting
what
you're
thinking
of
doing
and
getting
feedback
so
that
you
want.
You
know
you
already
know,
and
you
may
get
feedback
on.
You
know
how
to
make
some,
maybe
some
adjustment
in
how
you
would
address
the
problem
before
engaging
in
developing
the
solution
and
making
a
contribution
to
a
pull
request.
B
So
in
terms
of
communication,
we
primarily
use
three
different
ways:
discord
which
we
are
using
today
with
the
workshop
channel,
and
we
also
have
a
very
active
fabric,
mailing
list,
and
we
have
every
other
week
at
contributors
meetings
where
the
latest
development,
the
roadmap.
You
know
new,
the
rayleigh
schedule
is
being
this.
B
These
are
not
formally
endorsed
by
the
technical
steering
committee,
but
there
are
like
areas
where
the
community
can
easily
experiment,
and
you
know
do
kind
of
try
balloons,
type
of
development
and
there
are
several
mainly
actually
labs
that
are
related
to
fabric.
That
adds
different
aspects
that
you
won't
find
built
in
into
fabric.
So
I
have
put
the
url
there
and
again
I
welcome
you
here
and
I
welcome
you
in
the
community.
I
look
forward
to
seeing
you
around
and
I
hope
you
enjoy
the
workshop
today.
C
B
C
Good
overview,
that
was
a
very
good
overview
because
we've
been
associated
with
hyperledger
fabric
right
from
the
day,
one
you
know
when
it
was
called
open
blockchain.
So
we've
seen
the
evolution
of
fabric
from
a
very
simple
blockchain
to
what
it
is
today,
an
enterprise-grade
blockchain
technology.
So
obviously
it
is,
it
is
a
little
complex,
but
once
you
get
a
hang
of
it,
it's
really
very
exciting
to
use
fabric.
So
I
I
think
that
is
a
good
one,
and
people
should
try
out
hyperledger
fabric.
We
also
love
hyperledger
bezou.
C
We
have
experience
with
ethereum,
so
I
think
it's
a
good,
very
good
technology
and
obviously
it's
been
there
longer
than
fabric,
but
both
are
very
good
technologies
nurtured
by
the
hyperledger
foundation.
So
thank
you
so
much
for
that.
I'm
going
to
re-share
my
screen
and
we
are
going
to
breeze
through
because
I'm
watching
my
stop
and
my
watch
as
well
here
so
that
I
don't
go
off
track
so
share
my
screen
again
and.
C
So
we
are
going
to
build
upon
that
and
recap
some
of
the
concepts
that
they
mentioned,
but
in
a
in
a
very
crisp
and
shorter
way,
because
our
focus
here
is
going
to
be
on
how
does
how
do
you
build
nfts
on
hyperledger
fabric?
So
that's
going
to
be
the
main
focus
of
our
entire
exercise
today
and
I
hope
people
enjoy
it.
The
court
is
very
simple
and
puneet
will
talk
more
about
it
later.
C
What
we
will
talk
about
today
is
what
subject
of
the
objective
of
this
workshop
after
recapping
we'll
go
through
what
the
auction
application
itself
is.
What
is
the
purpose
of
building
it?
What
is
the
process
flow?
The
data
model
application
architecture.
I
don't
need
to
read
it
we'll
also
touch
upon
you
know,
because
people
always
relate
nfts
to
erc
721
and
tokens
to
erc20.
C
All
right,
so
you
will
get
to
learn
nft
concepts
once
again
recap
what
we
learned:
hands-on
experience
and
insight
into
the
code
structure.
So
the
goal
here
is
to
see
how
much,
how
can
we
relate
the
example
that
you're
going
to
play
around
with
to?
Actually
how
do
you
write
software?
I
mean
a
lot
of
people
have
seen
open
c
and
other
technologies
variables
where
one
gets
to
use
the
technology,
but
they
do
not
know
how
exactly
under
the
covers.
Do
you
do
you
write
something
like
that?
C
So
we
want
to
get
inside
the
code
and
see
how
exciting
it
is
to
write
code
skip
this
and
let's
move
on.
So
there
are
many
concepts
that
were
talked
last
week.
Right
I
mean
like.
There
was
a
mention
about
blockchain.
There
was
talk
about
fungible
tokens,
non-fungible
tokens.
What
are
tokens
themselves?
What
is
gas?
C
What
is
an
asset,
so
there
are
many
concepts
that
actually
come
together
when
we
talk
about
nfts,
so
we
want
to
just
recap
how
they
all
come
together
and
how
do
they
play
a
role
in
in
building
non-fungible
tokens,
so
the
first
one
there
is
assets.
You
know
fundamental
to
nfts
or
is
or
even
building
a
blockchain
application
is
the
asset.
In
a
way
back,
you
know,
ibm
had
a
tool
called
the
composer
and
the
composer
starting
point
was:
what
is
your
asset
and
what
are
the
transactions
that
operate
on
an
asset?
C
So
assets
are
fundamental
to
nfts
and
asset
is
anything
that
has
got
value
right,
so
a
car
has
got
value.
A
digital
art
that
is
has
got
value
and
digital
music
has
got
value.
So
asset
is
anything
that
has
got
value.
It
can
be
physical,
like
a
laptop
or
it
can
be
digital
like
music,
so
the
assets
are
digital
or
physical.
Now
some
assets
they
do
depreciate
in
value
over
time.
C
So
if
you
buy
a
new
car
and
it
comes
out
of
the
lot
it
depreciates
automatically,
whereas
there
are
certain
assets
that
are
appreciated
in
value
over
time,
you
know
there
are
pieces
of
collectible
art
that
appreciates
value
over
time,
but,
needless
to
say,
some
assets,
depreciate
appreciate
and
value
depreciation.
You
can
see
this
little
zigzag
thing.
For
example,
take
the
physical
asset,
cars
right,
so
cars
typically
depreciate
in
value.
C
But
what
has
happened
now
is
there
is
a
scarcity
of
chips
in
the
for
the
auto
market
and
that
has
created
a
scarcity
of
cars.
So
today
used
cars
have
got
a
higher
value
than
what
they
would
normally
trade
at.
So
it's
not
necessary
that
assets
always
depreciate
in
value,
but
they
do
show
this
pattern
of.
You
know
depreciation,
appreciation
and
depreciation
there's
a
cycle,
but
there
are
certain
assets
that
only
appreciate
value
over
time
and
they
are
like
typical
collectibles.
C
Now,
two
assets
of
the
same
kind
or
family
may
have
different
values.
So,
for
example,
once
again
I'm
going
to
use
the
car
example
in
this
page.
So,
for
example,
there
are
two
cars.
Both
are
20
22
models
of
a
certain
brand.
Let
us
say
the
acura
mdx
2022,
but
then
each
one
is
unique,
because
each
one
has
a
different
wind
number,
so
they
are
unique,
but
one
may
have
a
higher
value
because
of
whatever
characteristics
are
associated
with
that
particular
win
number
versus
another
one.
C
For
whatever
reason
and
finally
you
know
assets
can
be
classified,
you
know
you
can
classify
assets
into
fungible
and
non-fungible
tokens,
or
rather
non-fungible
assets,
okay.
So,
let's
move
on
and
let's
see
a
little
more
about
what
is
fungible
and
non-fungible
assets
right,
so
fungible
asset
right,
a
fungible
asset
is
something
where
the
asset
is
interchangeable.
With
another
asset
of
equal
value,
you
know
equivalent
value.
So
a
good
example
would
be-
and
first
talked
about
last
week-
is
that
if
somebody,
if
alice
lent
me
a
10
bill,
you
know
a
single
bill.
C
Ten
dollars,
you
know
either
I
could
repay
alice
with
an
equivalent
amount
that
could
be
another
ten
dollar
bill
or
it
could
be
ten
one
dollar
bills
or
it
could
be
two
five
dollar
bills.
So
in
this
case,
ten
dollars
is
equal
to
ten
one
dollar
bills
or
two
five
dollar
bills.
So
the
dollar
is
a
fungible
asset.
C
Now,
if
you
take
non-fungible
assets,
it's
exactly
the
opposite.
Each
non-fungible
asset
is
unique.
You
know
it's
got
a
unique
identity.
It
cannot
be
substituted
with
another
asset,
even
though
it
has
got
identical
characteristics
or
value.
So
non-fungible
assets
are
unique.
They
have
a
unique
identity.
For
example,
a
laptop
has
got
a
serial
number.
A
digital
art
has
got
a
queue
number,
a
skew
number
that
is
very
unique
to
it,
including
its
characteristics.
C
Now
I
was
asked
to
say,
like
you
know,
give
me
some
examples.
You
know.
Obviously,
if
you
take
digital
art,
you
know
you
can
take
two
copies
of
digital
art
and
they
may
fundamentally
have
different
value.
Let
us
see
what
can
an
example
be
so
if
we
take
nfts
or-
and
you
know,
non-fungible
assets-
let's
say
so
copy
number
one
may
have
actually
been
owned
by
some
well-known
personality
bill
gates,
and
you
can
see
that
it
was
owned
by
bill
gates.
But
then
it
went
into
another
celebrity
and
now
you
want
to
acquire
it.
C
That
particular
copy
may
have
a
much
higher
value
than
another
copy
that
has
just
been
through
a
regular
commercial
chain.
You
know,
I
think,
like
people
attribute
value
to
certain
assets
based
on
its
characteristics,
its
life
cycle
and
history,
and
sometimes
you
can
see
that
there
is
a
clear
logic
in
why
people
are
willing
to
pay
more
for
one
copy
versus
another
copy,
even
though
they
both
look
identical.
C
C
C
Any
questions,
please
direct
it
to
the
discord
channel,
and
somebody
will
answer
this
right,
because
these
are
like
fundamental
concepts
and
any
any
misunderstanding
here
could
not.
You
know
it's
better
to
clarify
earlier
than
later
right.
So
we
talked
about
assets
and
we
talked
about
fungible
and
non-tangible
assets
right.
So
why
are
we
talking
about
assets?
We
will
come
to
that
later
now.
Let's
look
at
our
whole
topic
is
about
non-tangible
tokens
so
fundamental
to
whether
it
is
tokens
non-fungible
tokens
or
you
know,
this.
Entire
business
transformation
is
blockchain.
C
You
know
blockchains
also
enable
to
want
to
track
the
true
owner
of
nfts,
who
is
the
owner
of
a
non-fungible
token,
so
blockchains
provide
that
provenance
that
is
necessary
to
review
their
life
cycle.
Blockchains
also
provide
the
audit
audit
capability
of
who
is
the
owner
of
the
nft,
and
it
is
easy
to
track.
The
other
is
being
the
blockchain
being
an
immutable
ledger
which
means
appendably
once
written.
It
cannot
be
changed.
It
somehow
makes
it
difficult
to
make
copies
or
forgeries
because
of
the
very
nature
of
the
technology.
C
C
You
see
some
bulbs,
you
know,
and
what
the
idea
here
is
that
when
you
go
back,
please
go
through
these
concepts
at
your
own
pace,
google,
or
try
to
understand
them
that
for
a
blockchain
there
are
several
characteristics.
Immutability
is
very
key
consensus,
which
is
the
agreement
on
what
is
written
into
the
ledger:
smart
contracts,
which
is
core
to
programming,
business
rules
and
transparency
and
privacy.
So
go
back
and
recap
these
concepts
at
your
own
pace.
So
that's
what
the
whole
box
at
the
bottom
is
for.
C
C
All
right
now
we
come
back
to
tokens.
So
when
we
talk
about
tokens,
we
often
have
to
talk
about
blockchains,
because
blockchain
is
the
fundamental
ingredient
that
enables
tokens
tokenization
and
these
concepts
the
in
our
application.
We
use
the
the
business
object,
called
nft
object,
that's
what
is
listed
on
the
top.
Now,
let's
talk
a
little
bit
about
tokens.
What
is
really
a
token
I
mean
it
sounds
very
fancy.
I
mean
we're
all
in
the
information
industry.
A
token
is
nothing
but
a
piece
of
data
that
is
managed
by
an
instance
of
a
smart
contract.
C
Now
you
can
classify
tokens
right.
Tokens
have
been
classified
as
crypto
you're,
very
familiar
with
crypto,
like
btc
eth
or
for
ethereum
dot.
All
these
crypto
tokens
are
crypto
your
security
tokens.
Essentially,
security
tokens
are
non-fungible
tokens,
usually
associated
with
earning
certain.
What
you
call
dividends,
or
you
know,
interest
on
possessing
those
securities
they
give.
You
know
it's
almost
like
investment.
There
are
utility
tokens
that
you
use
for
buying
or
paying
for
services,
and
now
you
often
hear
about
central
bank
digital
currency,
so
cbdc
is
now
getting
a
lot
of
traction.
C
Essentially,
it's
been
receiving
traction
ever
since
the
blockchain
came
into
play
and
people
have
been
trading
with
crypto,
so
cbdc
stands
for
the
central
bank,
digital
currency,
and
you
must
have
heard
how
india
is
pursuing.
The
digital,
rupee
or
the
us
government
is
pursuing
the
digital
dollar
and
china
is
pursuing
digital
yuan's
right,
so
they're
all
cbdc's.
C
Now
tokens
we
talked
about
what
is
token.
So,
let's
see
what
is
fungible
token,
so
we
talked
about
fungible
assets,
so
fungible
tokens
are
tokens
that
are
interchangeable
with
each
other.
If
you
really
look
at
tokens,
they
come,
they
have
a
name
and
a
symbol.
So
eth
is
a
symbol
for
ethereum
or
ether.
C
C
Non-Fungible
tokens,
on
the
other
hand,
have
a
unique
identity
right.
The
each
one
is
different:
they
have,
they
represent
a
uniqueness
in
the
sense
that
two
of
them
are
not
interchangeable
and
they
also
represent
ownership
rights
to
a
what
do
you
call
a
unique
digital
or
real-world
asset,
so
non-fungible
tokens?
If
you
look
at
the
right
side,
I
have
a
visual
there,
so
I
show
the
erc
721
derived.
C
You
know.
What
do
you
call
non-fungible
token?
No
and
an
erc
721
nft
is
actually
ideally
you
know.
It
has
a
relationship
to
an
asset
instance,
an
instance
of
an
asset,
a
piece
of
digital
art
with
a
unique
identity,
and
that
particular
instance
has
got
metadata
which
describes
that
asset,
such
as
its
identity
name
description.
I
know
various
other
factors
that
describe
that
instance.
C
Now
there
are
two
standards
that
came
about
and
they
were
actually
proposed
by
ethereum
when
it
started
back
in
2017,
the
erc20
for
fungible
tokens
and
the
erc
721
contract
template
for
non-fungible
tokens.
These
two
are
contracts.
Essentially
they
are
templates.
You
can
instantiate
an
erc20
for
any
type
of
erc20
compatible
token.
So
if
I
have
to
design
my
my
coin,
I
would
inherit
here
from
erc20
and
instantiate
my
contract,
and
it
will
allow
me
to
produce
my
own
token.
I
mean
those
contracts.
Are
there
for
that
purpose.
C
Look
at
the
bottom
on
the
bulb
interesting!
You
got
to
go
back
and
look
at.
If
you
want
to
learn
more
about
tokens,
you
have
to
dive
a
little
deeper
on.
How
do
you
issue
tokens?
How
do
you
mint
tokens?
How
do
you
value
tokens?
How
does
valuation
happen?
How
does
the
token
appreciate
in
value
you
know
when
bitcoin
was
issued?
It
was
probably
ten
dollars,
at
least,
if
I
recall,
and
today
it
is
trading
at
forty
eight
thousand
to
fifty
thousand,
sometimes
right.
So
how
does
that
evaluation
happen
listing?
C
How
do
you
list
your
token
into
an
exchange
or
wherever?
How
do
you
govern
the
token?
How
do
you
monitor
its
performance?
So
this
is
homework
for
you
all
go
back
and
google
and
you
can
learn
more
about
how
tokens
really
work.
It's
a
topic.
It's
an
advanced
topic.
We
can
generally
talk
about
it
in
another
workshop
next,
very
important
for
nfts
to
work
or
for
in
tokyo
to
work
is
the
wallet
you
know.
What's
the
wallet?
It's
it's
just
a
database.
C
You
know
it's
just
like
your
physical
wallet
in
your
pocket
in
which
you're
able
to
create
you
know,
keep
your
credit
cards
with
your
secret
pins
and
also
maybe
cryptocurrency
and
so
on.
So
a
digital
wallet
is
a
software
application.
It's
a
software
application.
It
can
be
as
simple
as
a
mobile
app
it
or
it
can
be
a
simple
database
or
it
can
be
a
wall
right
I
mean
so
there
are
various
forms
of
wallets,
but
wallet
is
really
a
software
application.
C
It
allows
the
owner
of
the
wallet
to
store
their
public
and
private
keys,
and
the
wallet
has
the
ability
to
interact
with
a
blockchain
and
monitor
your
transactions.
So
you
fight
up
the
wallet
on
the
right.
You
can
see
in
the
visual
there
is
the
metamask
wallet
with
a
specific
account
number,
and
if
you
go
to
this
metamask
wallet
on
the
top,
you
know
this
account
number.
C
If
you
punch
in
and
say
I
want
to
see
all
the
associated
transactions
with
this
account
number
on
the
left
side
of
this
wallet,
you
can
see
the
bse
scan
because,
right
now
it
is
connected
to
the
binance
blockchain,
this
particular
visual.
We
can
connect
it
to
any
particular.
You
know
what
you
call
blockchain
technology,
ethereum,
mainnet,
ethereum,
test
night
right
now.
C
So
while
it
is
also
your
key
to
access
your
funds
on
the
blockchain,
you
know
it
has
got
keys
and
based
on
your
keys,
it
is
able
to
recognize,
which
are
the
funds
that
are
associated
with
your
account
that
have
been
associated
with
your
keys
and
it
can
pull
that
up
and
a
wallet
always
has
an
account
number.
So
here
is
an
account
number
and
typically,
a
wallet
account
number
in
most
cases
is
derived
from
the
public
key
of
that
particular
user.
C
Now
nfts,
there
are
certain
wallets.
I
mean
in
the
past
wallace
used
to
support
only
crypto,
but
today
wallets
are
able
to
support
and
even
show
nft,
so
metamask
math
wallet,
trust
wallet.
All
these
wallets
have
capability
to
show
the
nfts
that
you
own
within
that
particular
blockchain,
whichever
blockchain
you
are
located.
If
the
wallet
has
an
interface
into
that
blockchain,
it
can
pull
up
your
nfts.
C
There
are
certain
concepts
associated
with
wallets
and
once
again
this
is
an
advanced
topic
and
I
would
recommend
people
to
go
and
check
what
is
a
decentralized
exchange.
You
know,
you
know
what
in
exchange
is
nasdaq
is
an
exchange
right.
Mx
is
an
exchange
you
know
in
in
new
york,
stock
exchange
and
exchange.
C
You
have
central
exchanges
and
you
have
decentralized
exchanges
in
the
crypto
world
like
uniswa,
you
can
also
go
and
learn
a
little
more
about
how
wallets
are
made.
There
are
deterministic
wallets,
you
know,
they're
called
hierarchical,
deterministic
wallets,
so
linear.
You
can
also
go
and
see
what
are
keys.
You
know
the
keys
public
and
private
keys
how
they
are
created.
How
do
you
store?
How
does
how
you
have
to
be
very
careful
in
protecting
your
private
key?
C
Now,
for
those
who
don't
understand,
wallets,
think
about
your
bank
account,
so
you
have
an
account
number,
but
then,
in
order
to
work,
and
so
the
bank
account
is
similar
to
the
account
number
here,
your
private
key
is
equal
to
the
pin,
typically
that
you
would
use
in
order
to
access
your
account
and
the
signatures
are
typically
the
ones
that
you
sign.
Your
checks,
or
transactions
with
so
you
can
relate.
C
And
then
we
do
want
to
talk
about
decentralized
finance
d5,
you
know
so
no
conversation
about
nfts
goes
complete
without
talking
about
d5,
so
we
have
all
talked
about
centralized
finance
right.
We
know
how
you
go
to
the
bank
and
the
bank
issues.
You
controls
the
amount
of
loan
that
it
can
give
you
based
on,
but
decentralized
finances
where
the
financing
of
transit.
You
know
the
powering
the
financial
transactions
through
decentralization
through
a
democratic
set
of
participants.
C
Who
would
could
probably
do
it's
a
better
way
of
doing
financial,
the
financial
transformation,
so
decentralized
finance
provides
a
decentralized
way
of
creating
instruments
for
investments
on
loans
or
providing
capability
for
people
to
borrow
or
even
lend
to
others
right.
So
it's
a
whole
new
science
of
decentralized
finance
and
it's
called
d5.
C
Now.
Why
do
I
talk
about
d5?
You
know
d5,
obviously
eliminates
third-party
intermediaries,
so
suppose
you
buy
a
share
in
a
stock
market.
You
go
through
your
broker,
who
goes
through.
Let
us
say
you
know
a
clearing
house
and
the
clearinghouse
goes
through
the
exchange
back
to
back
to
your
broker.
So
it's
a
whole
set
of
intermediaries
that
come
into
play,
so
d5
tries
to
eliminate
third-party
intermediaries
right
and
if
you
see
your
share,
price
goes
up
and
down
on
exchange,
d5
provides
the
concept
of
automatic.
C
You
know,
market
makers,
so
essentially
the
you
know.
If
you
relate
two
things,
let
us
say
the
price
of
ethereum
against
the
price
of
let's
say:
u.s
dollars.
You
know
the
price
fluctuates
and
automatic
market
makers
make
sure,
there's
a
balance
between
the
demand
and
supply
between
the
two
pools
of
coins.
So
it's
called
liquidity
pooling
these
are
new
concepts,
but,
and
you
can
do
asset
swapping,
there's
another
way
to
buy
crypto,
you
can
go
to
a
liquidity
pool
and
swap
one
crypto
for
another.
So
these
are
new
concepts.
C
Once
again,
you
had
to
go
and
try
to
learn
more.
If
you
are
interested
in
d5
understand
who
is
an
aggregator?
What
is
the
liquidity
pool
and
how
can
you
become
a
liquidity
pool
investor?
How
can
you
borrow
from
a
liquidity
pool
instead
of
going
to
an
exchange
and
buying
a
bitcoin
or
an
ethereum,
and
what
are
automatic
market
makers
now?
C
Obviously,
the
d5
is
important
for
our
nfts,
because
if
the
nft
is
priced
through
crypto
and
somebody
wants
to
have
some
fractional
ownership
of
it,
you
know
the
decentralized
financing
provides
you
capabilities
by
which
you
can
tokenize
the
asset
and
the
nft.
And
then
you
can
have
fractional
ownership
of
it.
So
users
or
borrowers
can
go
to
a
liquidity,
pool
and
borrow
funds
in
order
to
pay
for
the
nfte,
so
there's
a
whole
different
set
of
applications
that
are
available
for
managing,
or
rather
owning,
nfts
for
trading
nfts
through
d5.
C
Now,
before
I
go
to
this
one,
okay,
let
me
talk
this
and
I'm
going
to
give
punit
an
opportunity
to
say
anything.
If
I
missed
you
know,
because
I've
been
talking
continuously-
and
sometimes
I
may
miss
things
so,
but
let
me
cover
this
slide
and
then
punit,
okay.
I
want
to
just
ask
your
opinion.
So
the
last
time
I
was
asked
like
what
is
gas
fees?
You
know
what
is
public
gas
fees?
You
typically
hear
in
public
blockchains
right
I
mean
so.
I
wanted
to
have
that
concept
here.
C
The
gas
is
nothing,
but
a
comp,
you
know,
is
the
amount
of
what
you
call
a
amount
of
crypto.
You
have
to
pay
to
process
your
transaction,
so
each
transaction,
when
you
submit
a
transaction
when
you,
as
a
user,
submit
a
transaction
to
the
blockchain,
whether
it
is
sending
crypto
from
one
party
to
another
or
you
are
wanting
to
buy
or
sell
some
assets.
C
So
gas
fees
are
nothing
but
crypto
that
you
have
to
pay
so
that
the
transaction
can
be
processed
now
giving
an
example
here.
If
you
look
at
any
public,
blockchain
transaction,
a
user
will
have
to
when
a
transaction
is
called.
Let
us
say
you
submit
a
transaction
like
send,
so
send
something
to
something.
So
there
is
a
sender
there
is
a
recipient.
C
C
There
are
guidelines
available
which
help
you
to
understand
how
this
works,
but
you
have
to
pay
minimum
spent
of
gas
fees
for
this
transaction
to
be
processed.
You
can
send
more
than
what
is
needed
if
you're
unsure
and
then
there
are
signatures.
That
say
that's
that
actually
say
that
this
transaction
has
been
sent
by
so,
and
so
there
are
proofs
and
signatures
associated
with
each
transaction
that
is
submitted
to
the
blockchain.
C
So
gas
is
nothing
but
the
computational
effort
that
is
required
in
order
to
get
your
transaction
processed
on
a
public
blockchain
like
ethereum.
Now,
if
we
talk
about
fabric,
there
is
no
crypto
in
fabric,
and
there
is
no
gas
piece
and
fabric
fabric
is
a
permissioned
blockchain.
It's
an
enterprise
blockchain.
It
is
not
powered
by
crypto.
C
It
is
powered
by
the
members
who
run
the
consensus
process,
so
there
is
no
gas
fee
in
a
private
or
a
or
an
enterprise.
Blockchain
technology
like
hyperledger's
fabric.
You
typically
see
this
in
ethereum
and
these
gas
prices
have,
you
know
they
fluctuate
because
they
are
again
pegged
to
the
u.s
dollar.
So
ethereum
is
always
measured
in
terms
of
the
u.s
dollar.
So
so
you
are
paying
gas
fees
in
terms
of
ethereum.
C
If
its
price
goes
up,
you
are
paying
more
gas
you're,
paying
more
usd
to
buy
ethereum
if
the
price
goes
down,
you're
paying
less
usd
to
buy
ethereum.
So,
that's
why
you
see
the
volatility
when
sometimes
in
the
amount
of
gas
price
you
know
gas,
you
have
to
add
it's,
because
the
price
of
ethereum
is
pegged
against
u.s
dollars.
Usually,
and
you
see
that
as
the
us
as
the
the
ethereum
fluctuates,
you
have
to
pay
more
usd
or
less
usd.
C
D
I
I
don't
really
think
that
you
have
missed
much
more,
but
I
mean
just
from
an
overview
perspective
right.
So
the
reason
we
are
talking
about
all
these
concepts
here
is,
I
guess,
to
also
give
a
view
that
when
we
are
dealing
with
gas
fees
and
when
we
are
dealing
with
the
complexities
of
the
public
blockchain
there
is,
there
is
a
level
of
there
is
a
level
of
sophistication
in
terms
of
taking
the
decision
on
which
blockchain
you
want
to
have
your
nfds
on,
for
example,
on
an
ethereum
blockchain.
D
It
may
cost
you
like
tens
of
dollars
or
hundreds
of
dollars
to
do
a
transaction.
So
if
you're,
an
ft
is
worth
like
100
or
200,
it
is
a
sizable
amount
of
money
that
will
go
in
transactions
itself
right.
You
may
want
to
do
it
on
a
different
blockchain
like
binance,
where
it
may
be
a
cheaper
right
or
when
you
are
do
when
you
are
talking
about
fabric
right
fabric,
is
a
private
blockchain.
D
So
there
are,
there
is
already
a
set
of
organizations
which
come
together
to
sort
of
fund
that
transaction
cost
right.
There
may
be
some
some
percentages
built
in
into
the
transactions
to
recover
those
costs
right,
but
they
tend
to
remain
more
stable
and
more
like
in
line
with
the
real-world
economics.
C
Is
like
we
don't
just
want
to
talk
nft
in
isolation
nft,
you
know
if
you
want
to,
but
using
some
applications
like
open,
c
or
wearable,
or
you
know
what
nba
top
shots.
That's
a
different
thing.
You
know
it's
like
going
to
user
interface
on
fidelity
or
you
know.
What
do
you
call
emery
trade
and
then
buying
your
stock
right,
so
there
are
folks
who
just
want
to
be
users
of
applications
that
are
already
out
there.
What
we
are
talking
about
here
is
today
behind
the
scene.
C
How,
if
you
want
to
build
your
own
blockchain
network,
that
trades
in
nfts?
How
can
you
do
that,
whether
it's
public
blockchain
or
on
a
permission
blockchain?
How
do
you
do
that?
So
we
want
to
give
you
an
overall
view
of
how
you
can
go
about
doing
that
and
also
to
drive
some
curiosity
go
back
and
do
some
more
research
must
have
heard
of
these
concepts,
and
sometimes
they
don't
make
sense.
C
It
didn't
make
sense
to
me
many
many
many
months
ago,
but
now
I
think
I
fairly
understand
not
really,
but
let
us
see
how
how
transaction
processing
works
in
in
a
public
blockchain
world.
You
know
the
reason
I'm
giving
all
this
is
because
people
will
tend
to
see
that
we're
going
to
show
you
a
nft
project
built
on
fabric,
but
then
you
would
have
heard
something
else
in
the
outside
world.
When
you
talk
to
your
friends,
so
I
want
to
make
sure
that
the
concepts
become
clear.
C
So
this
is
a
this
is
a
public
blockchain.
It
is
ethereum
right.
So
how
does
ethereum
work
and
I
wanted
to
relate
it
to
gas,
so
you
are
sitting
here
as
a
user
and
typically
you
would
have
a
wallet
in
which
you
would
store
your
tokens,
your
crypto
and
all
that
stuff.
So
you
would
own
your
wallet,
which
has
an
account
number
and
you
can
use
that
to
go
to
the
crypto
market
to
an
exchange
like
coinbase
to
an
exchange
like
kraken,
and
you
can
buy
crypto
whether
you
want
to
buy
bitcoins
ethereum
bnb.
C
You
can
go
to
the
market
now.
You've
got
to
bear
in
mind
that
certain
exchanges
accept
u.s
dollars,
whereas
others
do
not.
You
know.
So
if
you
want
to
buy
crypto
with
usd,
you
can
go
to
coinbase
and
then
move
that
crypto
into
your
wallet.
So
in
ethereum
your
wallet
should
have
money.
Now
let
us
say
that
you
want
to
you
you're
in
a
funding
project
and
you're.
You
want
to
send
some
money
to
an
investor,
so
you
want
to
submit
a
transaction.
C
You
want
to
submit
a
transaction
that
says
I
want
to
send
x
amount
of
you
know
crypto
to
charlie
for
his
investment
purposes,
so
you
submit
a
transaction.
The
first
thing
that
happens,
you
send
it
to
an
application
which
is
written
in
web
3
js,
which
is
an
interface
and
that
transaction
gets
signed
by
your
wallet,
which
has
their
keys,
and
that
transaction
also
gets
added
with
some
fees.
C
You
know
you
got
the
application
fees
plus
gas
fee,
so
some
some
of
the
applications
they
want
to
charge
the
user
right,
so
some
applications
may
be
free.
So
let
us
assume
that
this
application
also
charges
some
crypto
fees
and
then
there's
gas
fees.
So
combined
your
wallet
is
going
to
sign
the
transaction
and
attach
the
necessary
gas
fees
and
then,
when
it
is
submitted
to
the
main
block
chain.
C
Okay,
the
application
ease
of
the
transaction
fees
and
then
the
transaction
and
gas
goes
to
the
public
blockchain,
and
this
gas
is
interpreted
as
money
to
process
this
transaction.
So
the
transaction
gets
processed
and
recorded
on
the
ledger,
and
then
a
response
comes
back
to
the
user,
whether
it
was
successful
or
failed.
So
this
is
how
typically
it
works.
We
have
hyperledger
bazoo,
which
essentially
allows
you
to
have
a
bezu,
ethereum
client,
and
you
can
use
that
to
be
connected
to
a
public
ethereum
network.
C
So
I
wanted
to
highlight
that
hyperledger
bezoo
is
a
good
client
for
use
as
a
client
to
a
mainnet
ethereum.
This
is
a
typical
flow
now.
What
happens
is
that
since
ethereum
ether
is
so
volatile,
if
you're
dealing
with
ethereum
you
pass
in
ether
and
ether
is
a
volatile
currency,
its
prices
go
up
and
down,
and
so
people
find
that
sometimes
the
transactions
cost
too
much
to
process,
and
sometimes
it
is
cheap.
C
That
is
the
volatility
factor
that
people
do
not
like
much
about
ethereum
and
also
it
takes
a
while
for
a
transaction
to
be
processed.
It
is
not
as
responsive.
You
know,
its
performance
is
not
like
highly
responsive.
So
not
only
are
the
costs
high,
but
the
responses
were
in
order
to
solve
that
problem.
You
would
have
heard
about
layer,
two
solutions,
so
the
same
diagram.
C
What
people
came
up
with
is
to
create
an
additional
chain
which
runs
as
though
it
is
a
private
network,
so
essentially
the
same
process.
The
transactions
go
to
a
private
network
which
does
not
charge
you
gas
fees
as
high
as
what
ethereum
does
they
process
the
transaction
and
they
summarize
the
entire
transactions
into
the
main
ethereum
network.
They
use
main
ethereum
network
for
security
purposes
and
for
other
prominence
purposes,
but
all
your
transactions
and
you
are
processed
by
an
application
that
runs
outside
of
the
main
network.
C
C
They
are
also
using
roll-ups,
like
you
know,
zika
roll-ups,
so
you
must
have
heard
about
it.
If
not,
there
are.
There
are
roll-up
technologies
that
also
allow
you
to
do
layer,
2,
scaling,
side
chains
and
channels
go
about
and
read
more
about
it.
If
you're
interested
in
understanding
layer,
2
scaling
polygon
is
a
well-known
application
in
the
layer
2
worlds.
C
So
that
completed
our
recap
of
all
the
concepts
you
got
an
overview
of
how
transactions
are
processed.
I
have
not
talked
about
hyperledger
fabric,
yet,
okay,
so
what
we
are
going
to
do
now
is
briefly
talk
about
the
auction
application
and-
and
that
is
related
to
the
actual
hands-on
workshop,
and
we
will
go
forward
from
here.
C
So
the
auction
application.
What
is
the
nfta
auction
application?
This
is
a
very
simple
application.
It
has
been
built
as
the
teaching
tool
for
this
exercise
for
our
workshop.
It's
very
simple:
it
runs
on
hyperledger
fabric,
which
has
no
crypto.
No
tokens
to
you
know
no,
no
tokens
to
power,
the
transactions,
no
crypto.
You
know
this
simple
application
helps
you
to
understand.
C
Nfts,
you
know
it
gives
you
the
ability
to
register
yourself
as
a
user,
create
an
nft
out
of
a
digital
artwork
that
you
already
have
place
it
on
auction
or
transfer
it
to
another
user.
It's
as
simple
as
that.
That's
what
this
application
is
really
about.
Okay,
you
know
it's
like
ebay,
you
know
you
can
go
to
ebay
and
you
can
essentially
go
to
ebay
and
you
can
put
an
asset
that
you
have
and
you
can
put
it
for,
buy
it
now
or
you
can
put
it
for
a
bid
or
both
right.
C
So,
except
that
ebay
is
centralized.
Amazon
is
centralized
and
they
control,
whereas
this
application
is
supposed
to
be
decentralized
right
because
it
is
governed
by
a
set
of
participants
who
participate
on
a
business
network.
It's
a
key
word
business
networks,
blockchain
supports
business
networks
and
you
will
hear
about
it.
So,
in
this
business
network
you
have
artists
who
can
be
digital
artists
or
it
can
be
music
artists.
It
can
be
anybody
choreography.
C
There
are
dealers
who
deal
in
assets.
There
are
insurance
players
who
can
insure
an
asset.
There
are
banks
who
could
fund
an
asset.
We
do
not
have
these
two
personas
in
our
demo,
okay,
and
there
could
be
traders,
people
who
buy
and
people
who
sell.
So
this
is
the
business
marketplace
now.
The
good
thing
about
using
a
blockchain
as
opposed
to
ebay
is
first
of
all
it
is
for
you
know
it
is
democratized
governance.
You
know
it
is
not
like
somebody
would
push
you
out.
C
You
know
if
you
have
something
to
sell,
you
can
sell
it
on
this
marketplace.
It
is
not
controlled
by
some
central
party
and
second,
it
ensures
authenticity
and
eliminates
fakes,
because
the
reason
you
want
to
put
it
is
you
convert
it
into
a
cryptographically
signed
proofs
that
are
put
on
the
blockchain.
That
attests
to
the
fact
that
your
asset
is
genuine,
whether
it's
a
digital
asset
or
a
physical
asset.
So
it
ensures
authenticity
and
it
is
tied
to
the
assets
life
cycle.
C
The
third
is
so
anyone
can
go
back
and
verify
you
know.
What
did
I
buy?
You
know.
Did
I
buy
something
real
or
fake?
And
then
again
you
have
a
common
ledger
and
common
logic.
So
it
is
not
your
word
versus
mind.
The
logic
that
runs
on
each
one
of
these
nodes,
if
there
is
a
multi-node
network,
the
logic,
the
smart
contract
that
runs
on
each
one
of
these
nodes,
is
identical
to
every
other
node,
and
the
ledger
therefore,
must
be
identical
to
every
other
node.
If
any
of
the
letters
go
out
of
back.
C
For
any
reason,
whether
it's
fraud,
hacking
or
the
node
went
down,
it
will
come
back
and
sync
itself
with
the
rest
of
the
other
nodes
through
a
process
of
syncing,
and
you
know
the
network
determines
where
one
is
out
of
back
right
and
then,
of
course,
you
know
there
are
support
in
blockchains
for
private
ledgers
and
channels
so
hyperledger
fabric.
Why
did
we
use
fabric
because
fabric
supports
private
ledgers?
C
So
if
there
is
a
price,
if
there
is
something,
if
there
is
a
contractual
obligation
between
the
artist
and
the
dealer,
it
can
be
stored
on
a
private
ledger
as
opposed
to
disclosing
it
to
every
other
party.
So
private
ledgers
are
very
helpful
when
there
are
private
relationships
between
any
two
parties
and
channels,
because
this
one
channel
people
could
participate
on
a
business
network
on
a
single
channel.
C
Lastly,
fabric
allows
you
to
make
your
transactions
auditable,
so
one
can
go
in
and
see
an
asset
and
all
the
transactions
that
are
associated
with
assets,
so
you
can
simply
go
there.
If
you
go
into
hyperledger
the
repositories
at
hyperledger.org,
you
will
see
block
explorer
block,
explorer,
allows
you
to
connect
to
fabric
or
to
bezu,
and
one
can
go
and
explore
about
any
asset,
all
the
history
of
the
transactions
associated
with
that
asset,
its
provenance,
and
that
allows
you
to
audit.
C
C
Let
us
see
the
process,
so
there
is
a
fundamental
assumption
in
the
process
of
how
this
work.
You
know
how
this
application
works.
We
assume
that
the
user
is
registered
and
the
user
is
logged
in
right.
So
the
first
step
is
log
in
this,
and
punit
is
going
to
show
you
a
lot
more
details,
so
we
are
here
to
talk
about
the
process
of
how
ebay
works
or
anything.
So
at
a
start,
one
would
register
their
asset
nft
or
asset
on
the
chain.
C
So
you
want
to
put
there
the
asset
and
say
this
is
my
asset.
This
is
the
description
of
my
asset.
You
know
whatever
it
is,
the
description
could
be.
You
know,
date
of
creation
who
owns
it.
You
know
whatever
a
little
bit
of
name
description
whatever
it
is,
and
then
you
submit
it
if
you're
registered
submitted
to
the
blockchain
and
then
it
is
going
to
give
you
an
nft
and
then
at
a
later
point
in
time
the
same
user
can
come
in
and
say
hey.
C
I
want
to
actually
sell
this
through
a
process
of
auctioning
and
it
can
be
on
the
blockchain
where
this
thing
you
know
this
is
the
auction
house
right
I
mean
like
the
auction
house,
will
go
and
verify
it.
So
obviously
you
know
it's
not
like
my
word
versus
yours.
There
has
to
be
some
verifiable
proofs
proof
of
authenticity
that
the
asset
is
real
and
the
price
that
you're
asking
for
is
real
right.
C
On
the
other
hand,
the
seller
may
simply
want
to
transfer
this
asset
as
a
gift
to
his
son,
or
it
could
be
a
gift
to
a
friend
whatever.
It
is.
A
simple
transfer
from
one
account
one
sender
to
a
recipient,
both
process,
the
transaction,
transfer
the
ownership
and
then
provide
it
to
the
new
owner
right.
It
delinks
it
from
the
old
owner.
So
you
can
see
this
process
map.
C
These
are
the
artifacts
that
are
generated
inside
these
little
colored
icons,
other
data
objects
or
the
collections
that
are
stored
on
couchdb,
which
is
the
underlying
technolo
underlying
database
within
hyperledger
fabric.
You
know,
every
every
blockchain
technology
has
got
a
database
technology
behind
that
can
be
accessed
only
by
the
blockchain
and
the
smart
contract.
C
C
C
C
This
particular
nft-
and
you
know
what
is
the
version
of
that
chain
code
and
what
is
the
hash
associated
though
these
attributes
are
here.
We
are
not
using
it
in
our
example.
Fundamentally,
it
is
provided
now.
You
can
also
see
that
an
item
can
have
many
copies
right,
so
is
there
so,
for
example,
an
artist
may
paint
a
picture
and
then
he
may
make
five
copies
of
that
artwork.
Each
copy
is
unique.
Each
copy
becomes
a
separate
nft
right.
C
So
in
that
case
that
if
there
are
five
copies,
there
will
be
five
nft
objects
and
each
object
will
have
a
unique
instance
pointer
that
has
got
its
own
copy
number.
So
copy
number
you
know
so
item
nfti
d1
is
associated
with
item
id
xyz
copy
number
one
item,
id
xyd,
xyz
copy
number,
two,
so
on
and
so
forth.
So
one
item
object
can
have
many
copies.
Each
copy
is
its
own
nft
and
it
is
managed
separately.
C
There
could
be
a
single
smart
contract
that
manages
all
the
instances
of
that
particular
family
or
you
could
technically
have
separate
smart
contracts
managing
each
nft
okay.
So
it
is
about
how
you
want
to
design
it.
There
are
cases
where
one
smart
contract
can
manage
all
the
five
copies.
There
are
cases
where
each
nft
specific
nft
is
managed
by
its
own
smart
contract.
So
it's
a
design
issue
how
people
design
behind
the
scene
now
the
function.
There
are
other
collections
in
our
application.
C
So,
as
you
go
through
the
source
code,
you
might
see
use
that
user
catalog.
You
know
the
the
interesting
thing
is.
It
doesn't
use
an
external
database
like
mongodb.
All
the
data
is
stored
within
the
blockchain.
You
know
the
so
user
uses
a
catalog
user
log.
You
know
an
item
category
auction
auction,
you
know
initiation
the
the
life
cycle
of
the
auction
itself
and
then
the
transactions
that
were
processed
by
a
particular
auction
and
then
the
bids
that
was
submitted.
C
So
you
can
see
that
all
the
bids
are
recorded
on
the
blockchain
for
truth
purposes,
so
that
there
is
no
dispute
in
the
future.
Like
somebody
comes
and
says,
I
bid
a
much
higher
price
and
you
didn't
take
my
bid
and
I
didn't
get
the
asset,
so
the
blockchain
provides
that
level
of
trust
where
each
bid
is
recorded
and
there
is
proof
auditable
proof
of
who
got
the
highest,
who
made
the
highest
burden,
who
got
it.
C
C
Application
is
rest
apis
that
support
the
user
interface
that
the
our
beautiful
sahenol
has
coded
here
and
that
user
interface
uses
all
these
rest
apis
and
on
the
other
end,
there
is
a
fabric
sdk
that
has
been
coded
by
the
lib
and
that
accesses
the
blockchain
functions
that
we
just
saw
right:
the
creation
of
the
nft,
the
minting
of
the
nfc,
the
burning
of
the
nft
redemption,
all
that
stuff.
Now,
obviously,
the
architecture
of
fabric
also
uses
something
called
certificate
authority
that
provides
credentials
to
every
user.
C
So
this
is
the
architecture
of
the
application,
very
simple,
written
and
deployed,
and
is
you
know,
aws
cc2?
It's
not
production
grade
and
then
obviously
fabric
consisting
of
four
peers
nodes
are
called
peers
in
fabric
there's
one
certificate
authority
and
there
is
one
order
which
helps
with
consensus.
So
that
is
how
this
particular
application
is
architected.
So
four
peers.
C
Lastly,
so
people
often
say
you
know
so
I've
seen
some
initiatives
and
I
wanted
to
just
put
my
personal
opinion
here,
but
people
may
have
different
views,
but
oftentimes.
You
know,
I
think,
like
every
blockchain,
if
you
take
a
flow,
which
is
what
nba
top
shot
is
or
whether
you
see
openc
and
others,
they
all
have
their
own
internal
way
of
building
nfts.
They
have
their
own
internal
functions
and
all
and
oftentimes
one
wants
to
put
that
nft.
So
we
built
this
nfts
on
hyperledger
fabric.
C
But
let
us
say
tomorrow
you
want
to
expose
this
nft
into.
Let
us
say
ethereum
because
you
can
see
it
on
the
ethereum
blockchain
and
thus
it
becomes
visible
in
exchanges
like
coinbase.
Let
us
say
you
want
to
do
that,
so
you
built
this
nft
here,
but
you
want
to
make
it
visible.
You
have
the
nft
here,
but
you
want
to
make
it
visible.
C
You
can
use
something.
This
is
a
technology
that
is
used
generally.
It
is
called
wrapping
now,
if
you
go
to
ethereum
blockchain
or
you
can
go
to
coinbase,
you
can
see
that
you
can
still
buy
bitcoins.
How
does
that
happen?
It
happens
through
a
process
of
wrapping.
You
wrap
the
existing
bitcoin
on
on
the
bitcoin
network
with
a
wrapper
and
make
that
wrapper
visible
on
ethereum
right
so
same
thing
you
can
do
here.
C
You
can
take
the
nft
here,
put
a
wrapper
smart
contract
that
manages
the
wrapped
smart
contract
that
essentially
points
to
the
same
nft
and
you
can
make
it
visible
in
metamask
or
any
of
the
walls
that
you
use.
The
process
is
different
slightly
because
there
is
trust
issues,
so
the
asset
has
to
be
deposited
with
a
custodian.
The
asset
has
to
be
locked
on
the
native
lock
chain
and
then
you
will
use
a
wrapped
token,
so
it
will
be
called
the
wrapped
nft
that
will
be
visible
here.
C
B
C
Okay,
very
quickly,
hyperledger
fabric,
we
talked
about
how
transactions
worked
in
ethereum,
but
I
want
to
give
you
a
view
of
how
hyperledger
fabric
works.
You
know,
hyperledger
fabric
is
made
up
of
nodes,
orders
and
ca.
We
just
talked
about
it,
so
when
a
user
submits
a
transaction,
this
is
a
time
clock
right.
It
starts
with
15,
you
know,
so
you
can
see
in
order
of
time
chronological
order
when
a
user
submits
a
transaction,
they
first
submitted
to
get
it
endorsed.
C
C
So
all
the
endorsements
from
the
three
nodes
come
back
to
the
user
and
once
it
is
received
the
user,
the
user
can
now
determine
whether
they
want
to
actually
submit
the
transaction
for
recording
on
the
ledger
or
not.
So
let
us
say
they
want
to
actually
send
alice
ten
dollars.
They
figured
out
the
proposal
has
come
out
and
they
have
got
three
endorsements
and
the
user
is
really
sending
alex
ten
dollars.
If
they
really
want
to
send
it,
they
would
send
the
proposal
to
finalize
back
now.
C
This
time
it
goes
to
the
ordering
nodes,
which
is
the
consensus
process.
The
orders
run
a
process
called
raft,
which
is
a
leader
based
consensus.
You
must
have
heard
of
proof
of
work.
Proof
of
stake.
Proof
of
work
is
what
bitcoin
does
proof
of
stake
is
what
ethereum
is
going
to
do,
but
fabric
does
raft.
C
So,
once
the
consensus
process
takes
place,
it
is
essentially
asking
the
nodes
to
verify
if
there
was
any
anything
that
happened
like
you
know,
instead
of
giving
atlas
ten
dollars,
which
I
promised
I
gave
it
to
charlie
and
I
submitted
alice's
transaction,
there
is
a
double
spend
problem
right.
I
cannot
give
the
same
ten
dollars
to
two
people,
so
the
blockchain
on
the
endorsers
that
endorsed
the
previous
proposal
will
re-verify
that
I'm
telling
the
truth.
I
still
have
the
ten
dollars
to
give
to
alice,
and
if
that
is
the
truth,
they
will
update
the
ledger.
C
They
will
create
the
block
and
update
the
ledger,
so
that
is
how
fabric
essentially
solves
double,
spend
and
also
deterministic
issues.
Right,
I
mean
like
so
atlas.
I
want
to
give
alice
10
bucks,
it
goes.
The
transaction
is
simulated.
The
chain
code
checks.
My
balance,
I
do
have
the
10
to
give
alice
comes
back
with
endorsements
in
the
second
round.
I
say:
please
give
it
to
alice
post
it
in
her
account.
It
goes
back
and
checks.
I
still
have
the
same
10
and
then
it
updates.
So
that's
how
fabric
works
fabric
we
already
talked
about.
C
It
consists
of
nodes,
orders
and
ca,
and
the
application
essentially
talks
to
fabric
I'm
not
going
to
spend
time
here.
I'm
going
to
move
on
to
give
you
a
quick
view
of
erc20
and
erc
721
for
those
who
want
to
build.
You
know
on
erc20
ethereum
gives
you
this
contract.
You
know
the
base
contract
interface.
C
When
you
implement
your
own
token,
you
would
extend
this
contract
to
my
token
and
you
will
implement
all
these
functions,
the
name,
the
symbol.
You
have
to
implement
these
functions
in
your
extended
contract.
To
support
your
own
token,
the
total
supply
function,
the
balance
of
everything,
and
also
these
events-
that's
how
you
can
build
your
own
token.
You
extend
it
from
the
base
contract
and
here
is
a
very
simple
example.
You
can
go
and
look
at
it.
C
You
have
the
contract,
you
import
the
base
contract
right
and
then,
of
course,
you
know
you
have
the
contract
where
you
extend
it
from
easy,
rc
20..
So
you
have
extended
your
token
from
erc20
and
then
you
instantiate
your
own
token,
the
simplest
solidary
contract.
You
can
run
it,
but
this
is
how
you
can
build
your
own
token.
You
take
the
main
erc20
contract
and
extend
it
and
build
and
then
mint
your
own
tokens
same
thing
with
the
rc
721,
which
is
for
nfts
right.
C
So
the
nft
interface
is
also
a
contract
that
is
coming
out
of
the
box
and
there
are
extensions
available
within
open,
zeppelin
and
other
libraries,
but
the
base
erc,
I
erc
721,
has
been
extended
for
various
purposes
and
you
have
these
basic
functions
that
are
optional,
named
symbol,
etc.
You
have
to
implement
these
functions.
If
you
want
to
be
a
true
erc,
721
compatible
nft
interface
right,
so
you
would
extend
this
and
say
my
nft
is
ierc
721
implement
these
functions
and
events
and
there
you
go.
C
You
have
an
erc721
compatible
nft,
a
simple
example
here.
Obviously
many
of
you
know
celebrity.
If
you
don't
know,
I'm
saying
which
version
of
solidity
we
are
using
what
libraries
have
to
be
imported
now
here
is
the
main
code.
This
is
the
nft
example
is
aerc
721,
and
then
you
can
then
mint
that
token,
how
many
you
know
how
many
increments
blah
blah
blah
so
another
simple
example:
this
nft
is
called
nfd
example
and
the
symbol
for
nft
is
next.
You
can
see
that
so
it's
as
simple
as
so.
C
If
you
want
to
build
it
on
ethereum,
you
would
extend
these
contracts
that
are
ethereum
compatible
blockchains.
That
support
the
same
thing,
so
you
can
build
erc,
721
and
20
car.
You
know
tokens
on
those
blockchains
as
well,
and
finally,
I'm
going
to
just
talk
briefly
about
the
token
taxonomy
framework.
A
few
years
ago,
industry
came
together,
especially
powered
by
microsoft,
accenture
ibm
and
a
few
others.
They
came
and
said
we
need
a
standard
for
tokens,
so
they
created
the
token
taxonomy
framework
to
define
to
create
what.
How
can
you
define
your
own
token?
C
You
know
in
order
to
define
your
own
token,
you
have
a
common
vocabulary,
definition
behaviors,
so
they
came
out
with
a
framework.
It
is
nurtured
by
the
interwork
alliance,
similar
to
hyperledger
foundation,
and
it
is
a
it
enables
collaboration
between
different
business
models.
So
I
have
my
own
token.
You
have
my
own
token.
We
don't
want
all
these
silo
tokens,
so
let
us
make
them
interoperable
and
if
you
want
to
do
that,
this
is
how
the
token
design
happens.
So
don't
get
scared.
C
Okay,
you
see
a
formula
here
which
looks
very
complex,
but
you
don't
have
to
write
that
you
will
understand
it.
Essentially,
when
you
build
a
token
with
the
token
taxonomy
framework,
you
will
define
what
type
of
token
it
is
fungible
non-fungible,
you
will
add
some
behaviors
to
it.
Transferable
divide
developmental.
You
can
define
various
behaviors,
you
can
group
some
behaviors
and
give
them
a
group
code.
So
in
some
cases
you
will
give
a
group
code
which
stands
for
sc
stands
here
for
all
these
behaviors.
C
You
know
I
want
intervals,
so
I
don't
have
to
repeat
this
and
then
you
can
give
property
sets
now.
Property
sets
are
nothing
but
attributes
that
will
allow
you
to
query
the
token
or
to
do
other
things
that
are
not
defined
by
the
standard
right.
So
I
want
to
query
my
token.
Let
us
say
by
which
industry
it
is
belonging
to
so
that
would
be
a
property
set
attribute.
Okay,
I
could
put
an
industry
code
as
an
attribute
with
a
token
which
is
not
in
the
standard,
and
I
could
use
that
for
query.
C
So
if
you
go
through
that
process,
it
creates
a
token
for
you,
so
at
the
highest
level.
When
you
finish
doing
this,
you
can
build
a
loyalty
token,
which
is
at
the
highest
level,
the
definition
and
from
there
you
can
have
a
class
which
is
very
specific
to
airline.
You
can
call
it
airline
loyalty
and
at
the
bottom,
when
you
instantiate
it,
you
have
airline
points,
so
it's
very
easy
to
use,
but
you
don't
have
to
go
through
this
process.
You
know
so.
Tf
token
is
fungible.
Gf
stands
for
that,
not
divisible.
That
is.
C
This
is
a
symbol
for
not
not
divisible.
You
can
look
at
the
d
here,
okay
g,
you
know
so
you
can.
I
have
not
put
that
it's
groupable
and
sc
stands
for
mintable,
turnable
and
role-based
and
whatever
it
is,
so
they
give
you
a
tool.
If
you
go
to
the
token
taxonomy
framework
designer
tool
that
is
available
with
ttf
for
the
interwork
alliance,
you
get
a
designer
tool
in
which
you
can
drag
and
drop.
My
token
base
and
property
sets
and
it'll
automatically
build
this
formula
for
you
with
that.
I'm
going
to
stop
here.
C
Thank
you
so
much
for
listening
to
me
patiently
non-stop
for
an
hour.
If
you
want
more
information
about
chain
yard
itself,
go
to
chennai.com,
you
want
to
know
more
about
our
product
in
the
market,
trust
your
supplier
or
how
to
build
trust.
You
can
go
here
and
if
any
of
you
want
to
send
me
a
message
through
linkedin
or
whatever
email,
please
feel
free
to
do
so.
If
you
want
any
questions
answered,
please
do
not
you
know
as
much
as
I
can.
C
D
Hey
thanks
everyone
for
joining
in.
We
are
so
now
that
you
have
all
the
basics
and
the
theory
behind
you
right.
Let
us
go
to
the
next
slide
and
sort
of
check
out
if
you
are
not
sort
of
lost
the
main
thing
that
we
are
talking
about
here,
which
is
the
nfps
right.
So
just
a
quick
quiz
here,
in
terms
of
which
one
of
these
do,
you
think,
are
more
likely
to
be
converted
into
an
nft
right.
D
D
Essentially
they
are
both
the
same
phones.
They
are
both
iphones
right,
whereas
the
first
one
is
an
iphone
which
is
still
unsold
in
a
package
right.
You
may
go
to
a
store
right
and
buy
an
iphone.
You
may
pick
up
the
first
box
or
the
second
box
or
the
tenth
box
right.
You
don't
really
care
all
of
them
at
that
point
of
time
are
fungible
with
each
other
right,
but
as
soon
as
you
have
bought
it
right,
the
bill
has
been
generated
in
your
name
with
that.
Particular
item
number
right.
D
That
particular
item
becomes
unique
and,
as
you
start
using
it,
you
customize
it
add
your
apps.
Add
your
data
right.
It
becomes
a
unique
item
and
hence
the
second
one
will
be
the
thing
that
most
probably
will
be
treated
as
nft.
So
I
think
you
are
probably
getting
a
good
sense
of
what
an
nft
is
and
it
does
not
just
depend
upon
like
the
item.
It
also
depends
upon
a
lot
of
factors
which
are
related
to
who
who?
What
is
the
history
of
that
item?
Who
created
that
item?
D
D
The
third
one
is
a
sort
of
a
more
open-ended
question.
Is
it
can
there
be
two
nfds
for
the
same
art,
or
can
there
be
one
more
than
one
nft
for
the
same
art
right?
This
is
more
like
a
question
which
talks
about
it's.
It's
all
in
the
hand
of
the
creator
or
the
person
who
owns
that
particular
item
right.
So
every
aspect
of
an
art
can
be
converted
into
nft
and
a
separate
nft.
It
can
be
traded
as
a
separate
nft.
D
It
can
be
bought
and
sold
as
a
separate
nft
license
or
whatever
right.
There
are
different
models.
This
is
you
can
go
to
this
video
here.
It
gives
you
a
much
more
vibrant
understanding
of
this.
Like
you,
you
can
have
a
physical
painting
that
you
painted
right,
and
you
can
say
that.
Okay,
I
will
digitize
this
and
I
will
create
an
fp
out
of
it
right
and
I
I
would
probably
take
a
picture
and
that
will
also
become
an
ft
right.
D
You
can
even
say
that
okay,
I
will
create
a
unique
nft
right,
but
I
will
burn
down
or
destroy
the
original
piece
right.
That
no
longer
is
an
ft.
The
only
thing
that
now
remains
is
a
is
a
is
a
digital
copy
right.
You
can
say
that,
okay,
I
want
to
keep
this
picture
with
me
locked
up
in
some
place
right.
D
It
is
never
to
be
sold,
so
it
will
never
be
an
nft
and
any
point
of
time
in
the
future
right,
whereas
it
will
be
thought
of
as
a
tool
to
create
this
nft
for
any
foreseeable
future,
and
that's
how
you
can
deal
with
it
right
or
you
can
even
say
that.
Okay,
the
part
of
the
procreation
process
of
this
particular
art
can
be
an
nft.
So
you
had
different
versions
of
this
art
or
different
stages
at
which
this
art
had
progressed
right.
D
You
can
create
a
gif
out
of
it
or
or
a
video
out
of
the
process
of
creating
this
art
and
that
itself
can
be
a
different,
unique
nft
right
apart
from
the
art
itself,
you
can
also
have
art
or
digitized
right,
but
when
you
are
delivering
it
to
the
people
who
actually
bought
it,
you
can
add
stuff
which
are
more
physical
in
nature.
For
example,
you
can
give
some
goodies,
etc.
D
Along
with
that
art,
maybe
the
brush
which
you
painted
with
and
stuff
like
that
or
you
can
even
bundle
them
unbundle
them
or
cut
them
into
pieces
and
then
create
separate
nfd.
So
there
are,
there
are
endless
possibilities
in
terms
of
how
you
use
the
concept
of
nfts
than
the
extend
your
art
piece
into
the
nft
world
for
trading
exchange,
licensing
or
whatever
right.
D
I
think
this.
This
sort
of
brings
you
back
to
the
nft
stuff
that
we
were
talking
about.
Initially,
I
think
next
I
would
like
ashish
festa
to
go
over
a
little
bit
about
the
project
that
we
are
going
to
be
hands
on
doing
us
hands-on
session
on
right.
This
is
the
nft
auction
application
in
the
which
we
have
contributed
to
the
hyperledger
labs
now
and
you
guys
can
actively
work
on
it
or
use
it
test
it
out
stuff
over
to
you.
Please.
D
A
A
A
A
So
everything
is
here,
then
all
those
trucks
are
all
the
assets
that
mohan
earlier
showed.
You
guys,
which
are
the
item,
object,
the
nft
object.
They
are
defined
in
this
truck
stock
go.
So
if
you
are
going
to
make
some
changes
to
the
item
object
or
to
the
nft
object,
then
you
would
need
to
come
over
here
to
do
the
changes
and
then
the
functions,
for
example,
to
record
the
nft
on
the
blockchain
right.
Those
functions
are
going
to
be
in
each
of
these
individual
files,
for
example,
to
record
the
energy
object.
A
A
A
A
A
The
node
folder
is
the
one
that
has
all
the
apis,
so
the
starting
point
of
the
node
apis
are
is
going
to
be
this
app.js
file.
So
this
is
going
to
declare
all
the
api
paths,
the
urls
and
then
also
start
the
express
server,
both
the
api,
http
server
and
then
also
the
web
sockets
server
that
is
used
by
the
ui.
A
A
We
structured
the
code
in
a
functional
way
instead
of
a
domain
way,
so
that,
if
you
know
express,
then
you
can
go
find
out
where
each
files
are
at
so
express
uses,
controllers
routes
and
middlewares.
So,
basically,
if
you
are
looking
for
all
the
list
of
routes,
you
would
go
to
the
routes
folder
and
then
you
can
see
the
routes
based
on
auction
bid,
nft
or
user.
A
So
let's
say,
if
I
go
into
nft,
then
this
will
show
me
the
routes
that
I
have
for
nft
right
so
like,
for
example,
the
first
one
is
api
to
find
out
what
nft
I
own
right
to
get
the
get
api
is
to
get
the
nft
by
the
nft's
id.
Then
we
have
history,
mint
and
transfer,
so
the
corresponding
function,
the
code
that
actually
sends
the
transactions
to
the
blockchain
using
the
node.js
sdk
is
going
to
be
in
this
controller's
folder.
A
A
A
D
D
Sort
of
flexible
in
terms
of
system
requirements
for
today's
hands-on
session,
so
we
so
now
we
will
go
into
the
hands-on
session,
wherein
we'll
show
you
how
the
application
works
right
and
you
can
walk
along.
So
you
can
open
the
same
same
urls
and
then
go
along
with
us,
create
some
nfts
bid
on
them
and
then
just
get
a
real
world
feel
of
how
it
all
works
right.
I
am
just
going
to.
D
Yeah,
I'm
just
going
to
switch
my
laptop
after
once.
I
am
done
with
slides
here,
but
main
system
requirements.
You
don't
just
need
a
laptop
with
any
of
the
browsers
chrome,
firefox
safari,
and
you
should
have
an
internet
connection
that
allows
you
to
connect
to
an
open
public
network
just
make
sure
that
your
vpns
etc
do
not
block
you
out.
There
are
some
disclaimers,
though,
before
we
go
ahead.
As
you
can
understand,
this
is
more
of
a
learning
session
right
and
this
application
is
definitely
not
in
a
production
ready
state.
D
We
are
in
a
poc,
a
kind
of
a
place
where
we
also
have
the
code
now
public
for
people
to
contribute
and
upgrade
it
there
are.
There
have
been
some
known
deficiencies
in
terms
of
the
performance
and
in
terms
of
the
scale
at
which
this
application
can
operate.
Hence
we
have
hosted
multiple
instances
of
these
applications
at
different
ip
addresses.
D
Each
of
the
ip
address
has
a
limit
of
around
75
people
to
log
in
at
one
time,
so
you
can
just
use
the
alternative
addresses
just
be
with
us,
try
to
login
into
one
only
so
that
all
the
participants
have
an
opportunity
to
test
it
out
in
terms
of
the
guided
session.
The
flow
would
be
very
simple:
we
will
try
to
get
you
through
the
registration
process.
D
D
For
trading
right
for
auction,
so
that
that
would
be
probably
controlled
by
some
of
the
people
who
are
coordinating
this
workshop
later
on.
When
you
are
running
a
local
version,
you
can
definitely
check
out
the
auction
house
stuff
as
well
wait
for
the
auction
house
to
open
the
auction.
So
there
is
a
even
though
this
platform
is
decentralized,
but
just
like
in
the
real
world
we
do
have
some
control
from
the
auction
houses.
D
So
once
you
have
defined
okay,
I
am
going
to
go
through
this
option
house
that
auction
house
has
the
responsibility
to
vet
the
items
that
you
are
putting
on
auction
and
then
can
open
the
auction
for
everybody
to
see
and
bid
bidding
on
the
auction
within
the
time
limit
would
be
something
that
you
should
do.
There
will
be
a
counter
at
every
auction
and
then
once
you
have
fund
the
bid,
the
item
should
be
in
your
wallet
once
the
auction
closes.
D
B
D
D
D
C
D
D
B
D
C
D
C
D
D
D
D
Okay,
so
once
we
get
into
this
screen
right,
you
see
this
is
a
very
basic
screen
where
we
land
up-
and
we
see
like
two
sections
here:
one
is
open
options
and
another:
isn't
your
artwork
right
so
right
now,
because
I
don't
have
any
artwork
right
and
there
are
no
options
that
have
been
opened
by
any
of
the
auction
houses
for
the
for
any
artwork
that
people
have
created.
Let
us
go
to
the
first
step
of
creating
an
artwork,
so
we
can
go
to
this
link
here.
D
Let's
say
I
want
to
art,
I
want
to
add
an
artwork
called
pentagon
parts,
and
I
can
just
put
some
of
the
information.
For
example,
the
author
of
the
creator
is
me
right
and
then
I
can
put
what
is
the
size
of
that
artwork?
All
this
is
sort
of
configurable
fields.
You
can
put
whatever
information
that
you
want
and
then
I
put
a
base
price.
This
best
price
is
basically
the
first
price
that
the
creator
puts
on
this
right.
D
D
Right
what
is
also
happening
in
the
background?
If
you
look
at
this
last
line
of
string
of
numbers
right,
these
are
basically
the
actual
blocks
that
are
getting
written
on
to
the
blockchain.
You
can
see
the
block
id
and
you
can
see
some
of
the
time
stamp
information
by
the
creator
of
the
block
right.
D
D
D
D
D
D
D
One
main
thing
to
notice
about
this
is:
when
you
submit
it
to
for
option,
it
will
not
come
up
in
your
new
options
as
such
right.
What
will
happen
is
this
will
go
to
a
particular
option
house
which
you
just
decide
during
the
submission.
So
you
have
to
mention
the
auction
house
when
you
are
trying
to
submit
production,
you
have
to
mention
what
is
the
buy
it
now
price
at
which
this
item
will
be
sold
without
an
option?
D
D
So
let
me
put
it
to
one
of
the
auction
houses.
As
sly
has
posted
on
the
on
the
workshop
site
right,
so
one
of
the
option
houses
is
so
they
buy.
Another
is
e,
buy.
Another
is
joe
dibai
right,
so
I'll
just
put
jyoti
by.
We
have
used
these
names
just
to
sort
of
use
them.
As
an
auction
house
right
now,
I
put
the
buy
it
now
price.
D
Let's
say
I
put
it
as
thousand
dollars
right
and,
let's
say
the
reserve
price
I
put
as
500
right
and
I
can
now
submit
this
item
for
auction.
You
can
see
that
this
is
pentagon
part.
This
is
the
auction
id
and
I
am
trying
to
submit
it
for
option
when
I
submit
it
on
option
by
the
time
that
I
am
submitting.
There
are
few
options
which
are
already
opened
right.
You
can
see
and
you
can
bid
on
it
I'll
go
through
that
flow
later
I'll.
Let
you
guys
have
that
right.
D
D
So
let
me
just
go
here
right
and
load
this
now.
I
am
logging
in
as
an
auction
house,
the
jyoti
by
auction
house
on
this
particular
ip
address
right.
I
should
see
my
stuff
that
I
had
submitted
as
this
user
right
and
I
can
see
the
reserve
price
as
500
and
the
option
price
at
for
the
buy
it
now
price
at
thousand
dollars,
and
I
can
see
the
creation
date
so
I
can.
I
can
basically
see
this
request
coming
to
me
now
here.
D
It
is
very
simple:
I
can
go
and
open
the
auction,
but
in
a
typical
auction
house
right,
you
know
even
in
a
decentralized
framework
right
that
auction
house
will
look
at
me.
My
profile
understand
whether
this
is
worth
500
or
thousand
dollars
or
not
right
and
then
make
a
judgment
and
then
open
the
option.
Let
me
just
go
ahead
and
open
the
option.
I
can
open
the
option
for
few
minutes.
This
is
just
for
workshop
purposes.
D
C
B
D
Yeah
exactly
so
this
is
this
is
an
option
house
panel
right,
so
I
am
logged
in
as
an
auction
house
for
this
workshop.
We
did
not
wanted
to
give
like
the
login
for
auction
houses
to
people
just
to
sort
of
coordinate
this.
We
wanted
to
be
sure
that
the
things
that
are
being
posted
here
are
all
in
accordance
with
the
policies
and
stuff
so
until
and
unless
I
open
an
option,
for
example
until
and
unless
I
open
this
auction,
this
would
not
show
up
for
people
to
buy
yourself
on
their.
C
Side,
I
think
the
process
is
you
know
so
in
order,
for,
I
think,
neither
is
just
trying
to
do
a
hand
holding
in
the
first
round
right
and
you
have
created
an
auction
house
and
then
you
are
behave.
You
know
the
auction
house
user
is
the
one
who
can
log
in
see
which
auctions
are
posted
and
which
one
should
be
opened
correct.
So
you
have
users
on
one
side
who
want
to
sell
or
put
in
an
auction,
and
the
auction
house
on
the
other
side
is
delaying
opening
options.
D
Right,
so
let
us
let
us
see,
this
is
another
option
that
has
been
opened
right.
Let
us
see
how
do
we
bid
on
it
right,
so
we
go
to
our
login
right
and
see
all
the
open
options.
I
can
go
and
do
any
one
of
these
right.
I
can
open
to
the
the
bid
screen
and
you
can
see
right
there.
There
is
this
particular
item.
There
has
been
no
build
or
the
maximum
bid
is
zero
dollars.
I
can
put
that
put
a
number
right,
so
I
can
put
like.
C
So
the
process,
essentially,
is
you
know:
user
registered
user
logged
in
user
placed
an
artwork
into
the
registry
and
it
got
converted
into
an
nft
and
the
user
is
able
to
see
their
own
nfts
on
the
other
side.
There's
another
persona
called
the
auction
house
controlled
by
these
auction,
guys
like
punit,
who
are
not
letting
others
log
in.
C
D
D
This
is
like
your
agreement
with
the
auction
house
where,
in
the
auction
house
that
has
that
exclusivity
to
auction
off
your
stuff,
so
once
they
have,
they
have
taken
a
decision
whether
they
want
to
auction
or
do
not
want
to
auction
right.
They
can
open
or
close
that
option,
and
then
you
will
start
to
see
your
artwork
again.
If
somebody
does
not
put
any
bits
on
your
stuff
right,
then
also
the
auction
can
be
closed
and
it
will.
The
item
will
go
back
to
your
stuff.
C
So
the
whole
process
is
like
you
know,
two
ways
by
which
nfts
are
moved
from
one
user
to
another
right
so
essentially
because
we're
talking
an
ft
here,
so
the
object
itself
that
was
uploaded
is
associated
with
a
unique
nft
token.
I
think
that's
what
you
showed
right.
So
when
you
upload
an
object,
it's
not
about
this
application
right,
I
mean
like
we
want
to
relate
it
to
the
nft
concept.
C
So
when
you
uploaded
the
object
into
your
artwork
into
this,
then
behind
the
scene,
an
nft
token
was
generated
and
associated
with
this
art.
So
there
are
two
objects
created,
so
you
upload
your
art.
An
item.
Object
is
created
with
all
the
metadata
and
there
is
an
nft
object
that
is
created
that
is
associated
with
that
instance
of
that
item.
C
D
So
a
couple
of
things
I
think
there
are,
there
is
definitely
some
level
of
things
which
are
not
very
transparent
from
the
ui
perspective
here
right.
One
of
the
one
of
the
considerations
that
you
also
need
to
understand
here
is
like.
Let's
say
there
is
an
auction
which
is
opened
and
somebody
is
bidding
on
it
right
and
they
want
it
right.
The
rest
of
the
participants
actually
do
not
get
to
know
who
owns
the
art.
D
Now
it
is
almost
like
a
true
sort
of
a
private
auction,
wherein
usually
the
bidders
will
not
disclose
their
identity
unless
and
until
they
are
going
to
auction
it
off
again
to
the
next
person.
So
when
it
comes,
the
same
item
comes
back
for
the
auction
again,
you
would
see
that
that
particular
item
is
now
having
all
the
history
in
terms
of
who
had
owned.
It
then
who
and
what
has
happened
to
that
item
right
so,
for
example,
if
you
go
to
the
history
now
in
here,
right.
D
D
D
D
A
D
B
D
D
So,
as
you
can
see
right
anytime,
I'm
opening
auction
or
stuff
like
that.
That
is
also
getting
added
to
the
blockchain.
So
that's
why
you
see
this
a
little
bit
of
delay
right
in
a
real
marketplace.
You
won't
have
like.
If,
if
you
have
like
a
lot
of
options
going
on,
you
may
probably
have
a
more
distributed
architecture
to
deal
with
that.
D
So
one
main
thing
here
is
like
about
trading
the
option
or
bidding
the
auction
right.
That's
that's
one
important
thing,
but
even
when
we
are
creating
options
right
today,
what
we
are
doing
is
we
are
just
updating
the
item
into
the
portal
and
it
becomes
an
nft
right
eventually,
when
you
have
a
commercial
platform,
what
will
happen
is
some
of
the
ids
will
be
more
like
trust,
anchors
right.
They
would
certify
or
say
that.
D
D
C
C
D
I
think
one
of
the
questions
that
is
there
is
like:
why
are
we
seeing
a
lot
of
blogs
getting
added?
I
think
now
for
each
of
the
transaction,
which
would
mean
like
adding
a
bid
or
creating
an
option
or
the
point
where
it
closes
the
auction
right.
So
any
any
movement
on
any
of
these
objects
right
is
causing
a
transaction
on
the
blockchain,
and
you
are
seeing
this
these
this
just
for
demonstration
kind
of
purposes.
Typically,
in
a
in
a
real
world
application,
you
won't
be
exposed
to
these.
D
C
D
Yeah
one
of
the
questions,
as
I
already
said,
right
who
purchased
their
nfts
and
how
for
how
much
that
would
that
is
an
information
that
would
not
be
disclosed
to
the
rest
of
the
group.
That
is
also
one
of
the
sort
of
a
beautiful
feature
of
a
decentralized
exchange
right
wherein
the
item.
You
know
that
the
platform
is
keeping
the
things
sane
in
terms
of
capturing
that
information
in
terms
of
who
bought
and
for
what.
D
D
C
So
how
many
of
the
people
are
successful?
You
know
see
because
it's
live
workshop
right
so
yeah.
Can
you
ask
how
many
people
have
been
able
to
use
it
and
have
been
successful?
They
can
show
a
raise
of
hand
on
zoom
right
so
go
to
zoom
and
if
you've
been
successful,
those
who
have
been
raise
your
hands.
Let's
see
how
many
and
those
who
have
not
been.
B
D
Yeah
that
that
can
be
one
thing.
Definitely,
I
think
I
think
there
is
like,
since
there's
a
lot
of
activity
and
stuff
right,
so
maybe
that
is
what
is
causing
it.
What
I
can
do
is
you
people
can
switch
or
switch
to
another
ip
for
some
time
now.
We
do
have
two
more
instances
just
for
testing
out
for
now.
D
C
D
D
I
I
think
that
is
true,
but
as
a
creator
as
well
right,
this
is
the
problem.
So
the
question
here
is,
I
think
sir
crowd
is
asking
like
I
want
to
see
where
my
nft
went
right.
I
think
this
is
this
is
this
is
both
a
problem?
Both
are
thing
of
the
current
state
of
how
that
these
things
work
right
as
well
as
in
terms
of
the
gdpr
or
the
privacy
requirement
side.
So,
even
if
you
are
an
artist
today,
you
don't
know
like.
Where
did
your
art
go
right?
D
Somebody
may
have
bought
it
at
the
shop
and
then
gifted
it
to
a
friend
to
a
friends
or
friend,
etc,
right
and
in
the
real
world.
You
don't
have
any
idea
of
where
it
is
landing
up
right
now.
In
fact,
a
lot
of
art
artworks
have
stolen
and
are
kept
in
private
safes
and
stuff
like
that
right.
What
the
blockchain
does
is
it.
It
at
least
keeps
at
a
blockchain
level.
It
keeps
a
record
of
where
it
is
going
right.
D
So,
even
if
you
don't
see
it
right
now,
if
somebody
tries
to
sell
it
again
right,
you
would
see
it
in
your
open
action.
You
can
see
the
history
and
all
and
in
the
future,
if
we
see
that
there
is
a
need,
for
example,
in
some
of
the
music
industry
and
all
right
there
are.
There
are
dues
in
terms
of
raw
sd
payments
to
the
original
creator
for
any
anytime,
the
the
asset
moves
hand
right.
So
in
the
those
cases
definitely
this
pro.
D
This
application
can
be
enhanced
to
capture
that
kind
of
a
requirement
where
a
creator
will
keep
on
getting
a
trickle
of
whatever
revenue
or
whatever
exchange
that
is
happening,
place
happening
in
the
market.
So
those
are
those
are
some
of
the
very,
very
good
sort
of
characteristics
of
nft
right.
You
can
sort
of
simplify
royalty
management.
You
can
simplify
license
management
and
things
like
that.
D
So
shots
for,
I
think
that's
that's
true.
If,
if
there
were,
if
there
was
a
use
case
of
your
loyalty
payments,
etc
that
we
want
to
enable
on
this
blockchain,
we
would
have
to
add
some
of
the
apis
to
to
capture
where
the
artwork
is
going
and
stuff
like
that.
But
this
is
very
plain
and
simple
auctions
use
case.
D
Yeah,
I
think
so
the
time
check
yeah
just
a
quick
time
check,
yeah
so
david.
I
think
we
sort
of
got
a
good
glimpse
and
I
think
there
are
quite
a
few
people
who
were
able
to
experience
right
and
for
those
who
were
not,
unfortunately,
right
they
can
definitely
go
to
the
nfd
auction
thing
set
up
a
vm
run
the
application
get
up
with
some
of
the
friends
and
search
just
tinker
with
it.
I
think
that's
the
intent
anyways
as
well.
A
C
What
we
will
do
is
right
after
this
class.
You
know
we
will
reset
the
data
in
all
of
the
systems
and
keep
the
four
or
five
ips
open
for
another
hour
or
so
right,
yeah.
So
that's
what
we
want
to
do,
so
we
will
just
reset
all
the
things
and
then
people
can
just
play
with
it
at
their
leisure
for
the
next
hour
and
a
half
while
we
continue
with
the
rest
of.
D
I
think
there
are
109
people
on
still
so
some
of
the
some
of
the
things
that
I
just
wanted
to
sort
of
recap
is
like
definitely.
This
is
an
application
which
is
now
in
the
open
source
and
we
need
to
plan
out
the
extensions
of
it
and
the
future
development.
So
there
are
certain
things
that
we
sort
of
think
that
this
application
should
be
moved
forward
with.
So
one
is.
D
Okay
yeah,
so
one
of
the
things
is
like
adding
application
support
for
more
nft
classes.
So
right
now,
it's
just
picking
up
pictures
and
and
doing
the
nfts
on
that
right.
So
maybe
doing
it
on
for
music
and
for
videos
which
are
much
more
interesting
and
also
intensive
in
terms
of
computations,
then
improve
the
performance
and
the
scalability
of
this
application
from
a
deployment
perspective.
D
I
think
there
is
already
a
minifab
lab,
which
is
there,
which
sort
of
sets
up
the
hyperledger
fabric
network
on
any
os.
So
we
we,
we
probably
will
be
moving
some
of
the
setup
items
on
that
right
so
that
we
can
use
that
blockchain
network
instead
of
building
up
based
on
our
own
scripts
and
then
basically
listening
and
contributing
as
this
community
grows
and
then
and
listening
to
the
needs
and
the
and
then
and
the
innovation
that
it
brings
together.
D
C
Of
days
instead
of
just
a
few
hours
because
it
is
a
work
week
and
we
have
to
get
back
to
our
daytime
jobs,
so
can
we
have
this
sandbox
available
where
we
can
just
explore
play
figure
it
out
right?
So
what
we
can
do
is
we
can
keep
our
two
instances
open.
You
know,
so
the
reason
why
we
reduced
the
number
of
logins
is
because
we
had
not
set
it
up
in
a
production
style,
environment
right.
C
So
we
set
this
up
more
as
a
on
a
desktop
type
environment,
but
we
did
not
expect
so
much
of
traffic
to
hit
it
and
that
well
that
was
potentially
causing
what
you
call
traffic
jams
in
our
private
testing.
But
once
we
get
off,
we
can
probably
keep
it
keep
one
or
two
instances
open
for
a
few
days,
maybe
till
the
end
of
the
week.
Maybe
right.
B
C
B
A
D
So
so
so,
usually
that
that
window,
where
you
see
all
the
auctions
and
open
the
auctions
and
stuff,
is
reserved
for
a
role
type
called
auction
houses
right
and
during
this
workshop
we
did
not
provide
any
of
the
participants
as
the
role
of
auction
houses.
I
think
only
the
coordinators
were
doing
that.
D
Some
of
the
practical
shortcomings
were
there,
for
example,
if
somebody
uploads
a
picture
which
is
not
appropriate
content,
and
things
like
that,
so
we
did
not
wanted
to
do
that
in
a
public
forum.
For
now
right.
You
can
definitely
get
instructions
in
terms
of
how
to
do
that
on
your
own,
how
to
register
as
a
auction
house
and
then
act
as
an
auction
house,
because
this
is
a
decentralized
application.
D
C
We
intentionally
shut,
creating
a
user
like
auction
house
right,
but
in
in
this
workshop,
specifically,
but
otherwise
the
open
the
version.
That
is,
that
we
are
loading
into
the
labs.
You
can
have
different
role
types
correct,
a
user
can
register
as
an
auction
house
or
a
user
can
register
as
a
general
purpose.
Correct.
B
Yeah
and
I
I
was
able
to
do
that
eventually
at
home,
paul
your
question
yeah.
Thank
you
very
much.
Thank
you.
First
for
for
the
wonderful
workshop
last
week,
and
also
this
week,
I
really
enjoyed
it
with
regards
to
the
to
the
artwork.
I
saw
the
the
response
that
once
it's
uploaded
and
the
auction
is,
as
his
term
is
closed
and
someone
bought
the
the
the
artwork,
then
it's
not
no
longer
in
your
artwork
list.
B
However,
is
it
possible
not
to
track
down
who
bought
it
because
the
buyers
are
anonymous?
If
I
understand
right,
but
at
least
at
what
price
it
went
not
only
for
historical
purposes,
but
also
in
terms
of
getting
like
royalties
at
every
transaction,
and
that
falls
into
the
same
question
that
earlier
on
was
a
fiora
was
asking
and
also
another
person
was
asking.
C
That's
an
excellent
question,
so
the
thing
is
like
you
know,
ideally
what
we
could
have
done
is
when
that
transaction
closed.
Initially
we
showed
a
process
right,
so
the
auction
is
running
and
the
white
now
is
running
and
if,
whichever
races
you
know
to
a
close,
there
is
a
transaction
that
is
created
so,
ideally
in
fabric
you
can
plug
in
an
event
and
what
you
are
suggesting,
which
is
a
good
thing,
is
within
that
product.
You
know,
put
a
fabric
event
that
essentially
sends
an
event
to
the
sen
to
the
seller.
C
B
D
C
This
is
a
very
specific
you
know:
ift
application
for
the
workshop
to
teach
right
right.
So
you
won't
see
all
the
fancy
functions
of
a
of
a
full-fledged
application
that
supports
a
commercial
use.
So
the
questions
you're
asking
at
all
so
the
bare
minimum
of
showing
how
an
nft
can
be
created
on
fabric
and.
C
B
So
I
will
point
I
will
point
out
that
this
is
at
the
core,
since
it
runs
on
fabric.
You
can
use
the
blockchain
explorer
project
and
you
should
be
able
to
examine
the
the
values
that
are
recorded
on
the
on
the
fabric
chain.
It's
not,
I
don't
think
it's
enabled
in
the
instructions
for
this
one,
but
it's
pretty
straightforward
to
add.
C
B
D
So
it's
it's
built
like
a
decentralized
application,
so
typically
it
will
be
organizations
right
future.
You
can
even
see
see
them
as
like
decentralized
organizations
like
dios
and
stuff,
but
right
now
we
have
been
massaging
them
as
like
an
e
decent,
an
ebay
or
a
or
a
source
bees,
or
something
like
that.
C
So,
technically
speaking,
if
this
was
a
business
network,
that
is
how
the
business
use
case
would
be
laid
out
that
which
are
the
participating
organizations
and
which
organizations
want
to
operate
and
node
and
which
organizations
just
want
to
trust
certain
other
organizations.
So
certain
organizations
become
trust
anchors
and
they
manage
ledgers
on
behalf
of
other
organizations
that
do
not
want
to
have
the
pain
of
hosting
a
node
and
managing
it.
So
that's
how
we
set
up
the
network,
so
we
have
four
nodes
here
and
each
one
of
those
nodes.
In
our
example
here
is.
C
We
have
four
nodes
and
each
there
are
two
organizations,
each
organization
owning
two
nodes.
That
is
how
the
the
code
has
been
set
up.
So
if
you
go
in
and
see
that
technically
it
doesn't.
So
if
the
more
the
number
of
organizations
you
can
have
more
organizations-
and
they
can
all
operate
nodes
or
just
be
participants-
make
sense.
C
So
I
think,
like
this
app,
should
help
you
learn
fabric
in
the
simplest
way.
You
know
yeah,
with
with
a
local
setup
or
whether
it's
the
public
setup
and
how
you
can
build
a
chain
code,
which
is
a
smart
contract
and
in
fact
it
can
also
teach
you
how
to
structure
smart
contracts
and
have
a
client
that
talks
to
it.
C
B
A
Not
really
right
right
jones,
I
just
wanted
to
again
express
our
gratitude
for
working
with
us
in
getting
this
workshop
together.
This
has
been
a
wonderful
workshop
in
terms
of
detail.
You
won't
find
it
anywhere
else,
and
this
is
a
wonderful
opportunity
for
all
of
our
students
and
faculty
at
at
morgan,
state
university
and
all
the
other
hvcus
to
participate
in
this
exciting
space.