Non-Fungible Token (NFT) Security: NIST IR 8472 is Now Available
NIST has published the final version of Internal Report (IR) 8472, Non-Fungible Token Security.
Non-fungible token (NFT) technology provides a mechanism to sell and exchange both virtual and physical assets on a blockchain. While NFTs are most often used for autographing digital assets (associating one’s name with a digital object), they utilize a strong cryptographic foundation that may enable them to regularly support ownership-transferring sales of digital and physical objects. For this, NFT implementations need to address potential security concerns to reduce the risk to purchasers.
This publication:
- Defines NFTs
- Identifies 11 properties that should be provided by most correctly functioning and secured NFT implementations
- Evaluates each property to reveal 27 potential security concerns
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