Non-Fungible Tokens Based on ERC-4519 for the Rental of Smart Homes

The rental of houses is a common economic activity. However, there are many inconveniences that arise when renting a property. The lack of trust between the landlord and the tenant due to fraud or squatters makes it necessary to involve third parties to minimize risk. A blockchain (such as Ethereum)...

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Detalles Bibliográficos
Autores: Arcenegui, Javier, Arjona, Rosario, Baturone, Iluminada
Tipo de recurso: artículo
Estado:Versión publicada
Fecha de publicación:2023
País:España
Institución:Consejo Superior de Investigaciones Científicas (CSIC)
Repositorio:DIGITAL.CSIC. Repositorio Institucional del CSIC
OAI Identifier:oai:digital.csic.es:10261/334413
Acceso en línea:http://hdl.handle.net/10261/334413
Access Level:acceso abierto
Palabra clave:Blockchain
Smart home
Internet of Things
IoT
Smart contract
Real estate
Non-fungible token
NFT
Ethereum
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spelling Non-Fungible Tokens Based on ERC-4519 for the Rental of Smart HomesArcenegui, JavierArjona, RosarioBaturone, IluminadaBlockchainSmart homeInternet of ThingsIoTSmart contractReal estateNon-fungible tokenNFTEthereumThe rental of houses is a common economic activity. However, there are many inconveniences that arise when renting a property. The lack of trust between the landlord and the tenant due to fraud or squatters makes it necessary to involve third parties to minimize risk. A blockchain (such as Ethereum) provides an ideal solution to act as a low-cost intermediary. This paper proposes the use of non-fungible tokens (NFTs) based on ERC-4519 for smart home tokenization. The ERC-4519 is an Ethereum standard for describing NFTs tied to physical assets, allowing smart homes (assets) to be linked to NFTs so that the smart homes can interact with the blockchain and perform transactions, know their landlord (owner) and assigned tenant (user), whether they are authenticated or not, and know their operating mode (NFT state). The payments associated with the rental process are made using the NFT, eliminating the need for additional fungible tokens and simplifying the process. The entire rental process is described and illustrated with a proof of concept using a Pycom Wipy 3.0 as a smart home gateway and a smart contract programmed in Solidity, which is deployed on the Goerli Testnet for Ethereum. Experimental results show that the smart home gateway takes a few tens of milliseconds to complete a transaction, and the transaction costs of the relevant functions of the smart contract are quite affordable.This research was conducted thanks to Grant No. PDC2021-121589-I00, funded by MCIN/AEI/10.13039/501100011033 and the “European Union NextGenerationEU/PRTR”, and Grant No. PID2020-119397RB-I00, funded by MCIN/AEI/10.13039/501100011033.Peer reviewedMultidisciplinary Digital Publishing InstituteMinisterio de Ciencia e Innovación (España)Agencia Estatal de Investigación (España)Ministerio de Ciencia, Innovación y Universidades (España)Consejo Superior de Investigaciones Científicas [https://ror.org/02gfc7t72]2023202320232023info:eu-repo/semantics/articlehttp://purl.org/coar/resource_type/c_6501Publisher's versioninfo:eu-repo/semantics/publishedVersionapplication/pdfhttp://hdl.handle.net/10261/334413reponame:DIGITAL.CSIC. Repositorio Institucional del CSICinstname:Consejo Superior de Investigaciones Científicas (CSIC)Inglés#PLACEHOLDER_PARENT_METADATA_VALUE##PLACEHOLDER_PARENT_METADATA_VALUE#info:eu-repo/grantAgreement/AEI//PDC2021-121589-I00info:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020/PID2020-119397RB-I00https://doi.org/10.3390/s23167101Síinfo:eu-repo/semantics/openAccessoai:digital.csic.es:10261/3344132026-05-22T06:33:51Z
dc.title.none.fl_str_mv Non-Fungible Tokens Based on ERC-4519 for the Rental of Smart Homes
title Non-Fungible Tokens Based on ERC-4519 for the Rental of Smart Homes
spellingShingle Non-Fungible Tokens Based on ERC-4519 for the Rental of Smart Homes
Arcenegui, Javier
Blockchain
Smart home
Internet of Things
IoT
Smart contract
Real estate
Non-fungible token
NFT
Ethereum
title_short Non-Fungible Tokens Based on ERC-4519 for the Rental of Smart Homes
title_full Non-Fungible Tokens Based on ERC-4519 for the Rental of Smart Homes
title_fullStr Non-Fungible Tokens Based on ERC-4519 for the Rental of Smart Homes
title_full_unstemmed Non-Fungible Tokens Based on ERC-4519 for the Rental of Smart Homes
title_sort Non-Fungible Tokens Based on ERC-4519 for the Rental of Smart Homes
dc.creator.none.fl_str_mv Arcenegui, Javier
Arjona, Rosario
Baturone, Iluminada
author Arcenegui, Javier
author_facet Arcenegui, Javier
Arjona, Rosario
Baturone, Iluminada
author_role author
author2 Arjona, Rosario
Baturone, Iluminada
author2_role author
author
dc.contributor.none.fl_str_mv Ministerio de Ciencia e Innovación (España)
Agencia Estatal de Investigación (España)
Ministerio de Ciencia, Innovación y Universidades (España)
Consejo Superior de Investigaciones Científicas [https://ror.org/02gfc7t72]
dc.subject.none.fl_str_mv Blockchain
Smart home
Internet of Things
IoT
Smart contract
Real estate
Non-fungible token
NFT
Ethereum
topic Blockchain
Smart home
Internet of Things
IoT
Smart contract
Real estate
Non-fungible token
NFT
Ethereum
description The rental of houses is a common economic activity. However, there are many inconveniences that arise when renting a property. The lack of trust between the landlord and the tenant due to fraud or squatters makes it necessary to involve third parties to minimize risk. A blockchain (such as Ethereum) provides an ideal solution to act as a low-cost intermediary. This paper proposes the use of non-fungible tokens (NFTs) based on ERC-4519 for smart home tokenization. The ERC-4519 is an Ethereum standard for describing NFTs tied to physical assets, allowing smart homes (assets) to be linked to NFTs so that the smart homes can interact with the blockchain and perform transactions, know their landlord (owner) and assigned tenant (user), whether they are authenticated or not, and know their operating mode (NFT state). The payments associated with the rental process are made using the NFT, eliminating the need for additional fungible tokens and simplifying the process. The entire rental process is described and illustrated with a proof of concept using a Pycom Wipy 3.0 as a smart home gateway and a smart contract programmed in Solidity, which is deployed on the Goerli Testnet for Ethereum. Experimental results show that the smart home gateway takes a few tens of milliseconds to complete a transaction, and the transaction costs of the relevant functions of the smart contract are quite affordable.
publishDate 2023
dc.date.none.fl_str_mv 2023
2023
2023
2023
dc.type.none.fl_str_mv info:eu-repo/semantics/article
http://purl.org/coar/resource_type/c_6501
Publisher's version
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/10261/334413
url http://hdl.handle.net/10261/334413
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv #PLACEHOLDER_PARENT_METADATA_VALUE#
#PLACEHOLDER_PARENT_METADATA_VALUE#
info:eu-repo/grantAgreement/AEI//PDC2021-121589-I00
info:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020/PID2020-119397RB-I00
https://doi.org/10.3390/s23167101
Sí
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Multidisciplinary Digital Publishing Institute
publisher.none.fl_str_mv Multidisciplinary Digital Publishing Institute
dc.source.none.fl_str_mv reponame:DIGITAL.CSIC. Repositorio Institucional del CSIC
instname:Consejo Superior de Investigaciones Científicas (CSIC)
instname_str Consejo Superior de Investigaciones Científicas (CSIC)
reponame_str DIGITAL.CSIC. Repositorio Institucional del CSIC
collection DIGITAL.CSIC. Repositorio Institucional del CSIC
repository.name.fl_str_mv
repository.mail.fl_str_mv
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