The time has come to 2021. The cryptocurrency market is showing a spurt of development. The prices of BTC and ETH continue to climb to new highs. In addition, the Grayscale Fund, Tesla and other world-renowned traditional capital predators are entering the market. The public is unprecedentedly enthusiastic about cryptocurrency investment. After the DeFi fire in 2020, a large number of star coins such as YFI, UNI, SUSHI, etc. have been born. Everyone is thinking about the same question, that is, where will the next frontier of the blockchain industry appear?
Mainstream blockchain investment and research institutions agreed that NFT is the next frontier in the cryptocurrency world after DeFi. Coincidentally, on March 6, Twitter CEO Jack Dorsey seemed to want to treat his first tweet published in 2006 as a non-profit. The homogenization token NFT was sold.
On the afternoon of March 6, Dorsey posted a link to the platform “Valuables”. After the page opened, his first tweet in 2006, “just setting up my twttr” is now in the auction above. The highest bid came from Sina Estavi, CEO of the digital currency trading company Bridge Oracle, who bid 2.5 million US dollars on the afternoon of March 7. This has undoubtedly brought huge attention to the NFT field. A tens of billions of dollars market is gaining momentum.
The NFXT project was co-sponsored by Ameer Carter, the founder of The Well, a leading encryption information company in the United States. At the same time, Sotheby’s, a world-renowned art auction house, attaches great importance to the application prospects of NFT in the field of digital art and leads the strategic investment in NFXT. , in order to explore the commercial application value of blockchain in the art industry.
NFXT is researched and developed by the computer laboratory of Helsinki University in Finland. It uses the cutting-edge blockchain technology NFT and links the POS mechanism to solve the current problem of high energy consumption in mainstream currency mining, leading the next generation of NFT technological innovation, and becoming the next global consensus for NFXT , and thus paving the way for a full-scale outbreak.
NFXT can achieve the highest level of security protocol through TEE technology, using 128bit security strength to protect sensitive data from malicious behaviors in REE and other environments. At the same time, hardware mechanisms must be used for protection, and this mechanism can only be controlled by TEE. On-chip resources implement a completely safe startup process, and complete the transfer of integrity during the transfer of control.
Features of TEE (Trusted Execution Environment):
1. Protected by hardware mechanism: TEE is isolated from REE, can only communicate with TEE through a specific entrance, and does not specify a hardware implementation method
2. High performance: the full performance of the CPU is used when TEE is running (exclusive)
3. Fast communication mechanism: TEE can access REE memory, REE cannot access TEE memory protected by hardware
4. TEE can run multiple Trusted Application (TA) at the same time
5. Standardized by GlobalPlatform (GP): Can be transplanted on multiple platforms
All component modules in T6.EE define security first, and then consider performance
7. The executable code in TEE must be validated before execution
8. Use a secure storage mechanism for keys: authentication, integrity and confidentiality
At present, NFXT has reached an in-depth strategic cooperation with the Huobi ecological chain HECO. The two parties will conduct in-depth cooperation on the technical research in the field of NFT+DeFi, and will land on HECO in the near future. We look forward to the next performance of NFXT!
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bengaluru Bytes journalist was involved in the writing and production of this article.