Constructing a Secure Charity NFT Auction Platform Using Fisco Bcos Blockchain for Enhancing Transparency and Traceability

Abstract

In the charity sector, fundraising and transparency have long been key issues. Charity NFT (Non-Fungible Token) auctions, an emerging charity fundraising model integrating blockchain and NFT concepts, bring opportunities and challenges. Blockchain provides distributed data integrity and transparency via cryptography-linked data blocks, while NFTs enable unique digital ownership representation. This study designs a charity NFT auction platform on the Fisco Bcos blockchain, using multi-signature algorithms to ensure NFT authenticity, ECDSA (Elliptic Curve Digital Signature Algorithm) signatures for transaction integrity and traceability, NFTs and virtual currencies to reduce costs, and IPFS (InterPlanetary File System) for storage. The implemented system achieves 2104 TPS throughput with 492-millisecond latency, increasing transaction processing with low latency. Overall, the platform aims to address charity issues like opaque fund flows, high costs, and fake initiatives through the strategic application of blockchain and NFT functionality.