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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Detalhes bibliográficos
Autores: Arcenegui Almenara, Javier, Arjona, Rosario, Baturone Castillo, María Iluminada
Tipo de documento: artigo
Estado:Versão publicada
Data de publicação:2023
País:España
Recursos:Universidad de Sevilla (US)
Repositório:idUS. Depósito de Investigación de la Universidad de Sevilla
OAI Identifier:oai:idus.us.es:11441/148896
Acesso em linha:https://hdl.handle.net/11441/148896
https://doi.org/10.3390/s23167101
Access Level:Acceso aberto
Palavra-chave:Blockchain
Ethereum
Internet of Things
IoT
NFT
Non-fungible token
Real estate
Smart contract
Smart home
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spelling Non-Fungible Tokens Based on ERC-4519 for the Rental of Smart HomesArcenegui Almenara, JavierArjona, RosarioBaturone Castillo, María IluminadaBlockchainEthereumInternet of ThingsIoTNFTNon-fungible tokenReal estateSmart contractSmart homeThe 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.Ministerio de Ciencia e Innovación PDC2021-121589-I00, PID2020-119397RB-I00Multidisciplinary Digital Publishing Institute (MDPI)Electrónica y ElectromagnetismoMinisterio de Ciencia e Innovación (MICIN). España2023info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/pdfhttps://hdl.handle.net/11441/148896https://doi.org/10.3390/s23167101reponame:idUS. Depósito de Investigación de la Universidad de Sevillainstname:Universidad de Sevilla (US)InglésSensors, 23 (16), 7101.PDC2021-121589-I00PID2020-119397RB-I00https://doi.org/10.3390/s23167101info:eu-repo/semantics/openAccessoai:idus.us.es:11441/1488962026-06-17T12:51:07Z
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 Almenara, Javier
Blockchain
Ethereum
Internet of Things
IoT
NFT
Non-fungible token
Real estate
Smart contract
Smart home
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 Almenara, Javier
Arjona, Rosario
Baturone Castillo, María Iluminada
author Arcenegui Almenara, Javier
author_facet Arcenegui Almenara, Javier
Arjona, Rosario
Baturone Castillo, María Iluminada
author_role author
author2 Arjona, Rosario
Baturone Castillo, María Iluminada
author2_role author
author
dc.contributor.none.fl_str_mv Electrónica y Electromagnetismo
Ministerio de Ciencia e Innovación (MICIN). España
dc.subject.none.fl_str_mv Blockchain
Ethereum
Internet of Things
IoT
NFT
Non-fungible token
Real estate
Smart contract
Smart home
topic Blockchain
Ethereum
Internet of Things
IoT
NFT
Non-fungible token
Real estate
Smart contract
Smart home
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
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://hdl.handle.net/11441/148896
https://doi.org/10.3390/s23167101
url https://hdl.handle.net/11441/148896
https://doi.org/10.3390/s23167101
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Sensors, 23 (16), 7101.
PDC2021-121589-I00
PID2020-119397RB-I00
https://doi.org/10.3390/s23167101
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Multidisciplinary Digital Publishing Institute (MDPI)
publisher.none.fl_str_mv Multidisciplinary Digital Publishing Institute (MDPI)
dc.source.none.fl_str_mv reponame:idUS. Depósito de Investigación de la Universidad de Sevilla
instname:Universidad de Sevilla (US)
instname_str Universidad de Sevilla (US)
reponame_str idUS. Depósito de Investigación de la Universidad de Sevilla
collection idUS. Depósito de Investigación de la Universidad de Sevilla
repository.name.fl_str_mv
repository.mail.fl_str_mv
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