Research Article
A Study on the Application Algorithm and Change of Art Field according to NFT Technology
@INPROCEEDINGS{10.4108/eai.19-5-2023.2334376, author={Chun Hyunjin and Jiaqin Sun}, title={A Study on the Application Algorithm and Change of Art Field according to NFT Technology}, proceedings={Proceedings of the 2nd International Conference on Bigdata Blockchain and Economy Management, ICBBEM 2023, May 19--21, 2023, Hangzhou, China}, publisher={EAI}, proceedings_a={ICBBEM}, year={2023}, month={7}, keywords={algorithm; nft; nft art; artificial intelligence}, doi={10.4108/eai.19-5-2023.2334376} }- Chun Hyunjin
Jiaqin Sun
Year: 2023
A Study on the Application Algorithm and Change of Art Field according to NFT Technology
ICBBEM
EAI
DOI: 10.4108/eai.19-5-2023.2334376
Abstract
In the era of the 4th Industrial Revolution, various new technologies such as artificial intelligence are developed. Among these various technologies, NFT technology is used in the art field. So NFT technology is expected to bring about new changes in the art world. In addition, the development of information and communication technology leads to digital transformation in various industries. Recently, art transactions through online distribution are increasing. For this reason, many artists are interested in NFT technology. Despite these rapid changes, research on the art field through NFT technology is still insufficient. Therefore, in this paper, the application algorithms and changes in the art field according to NFT technology were studied. In NFT, PoW consensus algorithm is generally applied. PoW consensus algorithm has many problems with transaction cost and processing time. Therefore, NFT is highly inefficient because it uses PoW consensus algorithms. Therefore, the algorithms used in NFT technology should be studied in a way that can increase efficiency.
