Survey on Design of Smart Contract System Using Blockhchain Technology for NFT

Abstract

Technology continues to simplify human activities, driving numerous innovations across various fields. One of the most prominent emerging technologies is blockchain, which plays a crucial role in business by enhancing data security and performance. Blockchain incorporates robust security measures such as cryptography, peer-to-peer networks, smart contracts, and consensus mechanisms “Reference[2]”. Cryptocurrency which has gained significant attention after the rise of blockchain, as a new form of digital currency, influencing national economies “Reference[14]”. Furthermore, digital currency has extended into the realm of digital art, leading to the emergence of NFTs unique digital assets with valuable use cases for businesses “Reference[5]”. This paper explores the development and design of a simple NFT website, along with the process of minting and purchasing NFTs using the Ethereum test network/environment “Reference[9]”.

Introduction

The text discusses the transformative impact of information technology, particularly blockchain, on business efficiency and digital asset management. Before NFTs, digital assets lacked secure ownership tracking, but blockchain technology—first introduced in 1991 and popularized by Bitcoin in 2009—provides transparent, secure, and decentralized transaction records without intermediaries. Blockchain supports smart contracts, which are self-executing agreements crucial for cryptocurrencies and NFTs. NFTs are unique digital tokens representing ownership of digital assets like images, with transactions recorded permanently on the blockchain.

The study focuses on designing an NFT smart contract system using the Ethereum blockchain, highlighting Ethereum’s role in supporting decentralized applications and NFT projects. Ethereum enables programmable smart contracts written in Solidity, allowing decentralized and automated NFT minting and trading.

The literature review covers key concepts such as system design, information systems, web-based applications, Web 3.0 (decentralized, AI-enhanced web), NFTs (unique digital assets), Ethereum network, smart contracts, blockchain technology, cryptography, and development methodologies like the waterfall method.

The methodology outlines the development process for the NFT system, emphasizing requirements gathering, system design, coding, testing on Ethereum test networks, and maintenance. The system uses web technologies (React.js, HTML, CSS, JavaScript) integrated with smart contracts to enable users to mint NFTs through external wallets like MetaMask. The platform is designed for secure, transparent NFT transactions with potential expansion into marketplaces and auctions.

Conclusion

A. Conclusions Based on the discussion and design outlined in the previous chapters, the following conclusions can be drawn: 1) The system effectively provides information about digital assets and NFTs through various menus and features within the Web 3.0 platform, ensuring ease of use and accessibility for visitors “Reference[8]”. 2) The Ethereum blockchain serves as the foundational infrastructure, acting as a bridge for integrating cryptocurrency transactions with blockchaintechnology “Reference[1]”. B. Suggestions The development of this web and blockchain-based information system presents several areas for improvement in the NFT planning system. Here are some key suggestion 1) Enhancing the data security system to ensure better protection and reliability 2) Increasing promotional efforts, as the system is still in the environmental testing phase and has not yet reached a broader audience “Reference[13]”.

References

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Copyright

Copyright © 2025 Prof P. P. Bastawade, Shravani Sutar, Divyashree Takbhate, Tanishka Todkar, Tanishka Ubhe. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.