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Blockchain

Blockchain technology is used to record the ownership of tokens and allow owners to transfer/sell/use them without restriction. IPFS is used to store the actual digital asset and ensure the asset cannot be modified.
Three different blockchain protocols will be integrated into the GoArt stack:
  • ERC-20 for GoArt
  • ERC-1155 and ERC-721 for the Digital Assets storage and trading

Platform

Polygon, formerly known as Matic Network, is a framework for building interconnected blockchain networks.
It seeks to address some of Ethereum's major limitations - including its throughput, poor user experience (low speed and delayed transactions), and lack of community governance - using a novel sidechain solution.
Polygon's architecture can best be defined as a four-layer system composed of the Ethereum layer, security layer, Polygon networks layer, and an execution layer.
The chains launched on Polygon are capable of communicating with both one another and the Ethereum main chain thanks to Polygon's arbitrary message passing capabilities. This will enable a variety of new use cases, such as interoperable decentralized applications (dapps) and the simple exchange of value between diverse platforms.

Technology Solution Breakdown

The GoArt platform architecture is composed of several components. In terms of blockchain integration, we have a backend running on the cloud (currently using GCP) to support our web frontend. Accordingly, the asset of the creator is stored before the mint. It's uploaded on IPFS so that it becomes public then the hash of the ASSET is recorded on the smart contract with owner rights.

Program Agents

The GoArt platform architecture includes a server on our Azure infrastructure that monitors the blockchain and registers state change.
Changes are then propagated by our API into our backend, and our distributed Firestore database updates the records held so that the frontend can pull the recent changes and display them accordingly to the players and users of the GoArt platforms.
These changes in statuses include the transfer of ownership from the tokens (LANDS; ASSETS, or GOART TOKENS).

Wallets

The security risk of wallets are reduced by limiting the use of hot wallets in the system.
The hot wallets can only be used for whitelisting and referrals.
The funds collected are safely stored in a multi-signature wallet powered by Gnosis and 3 Nano Ledger X hardware wallets are used to improve the security. For every operation other than mentioned with regard to hot wallet operations, 2 out of 3 approvals are needed from these hardware wallets.
When a user would like to make a purchase or a payment for any other reason on the platform:
  • An ERC-20 based token (MATIC) will be sent by the user to be processed by the smart contract deployed and the user shall receive the GoArt token into their wallet.

Security

The GoArt marketplace relies on the security of Polygon for the functioning of its smart contracts. The only wallet that can affect the logic of our smart contract is our multi-signature wallet, which uses the gnosis Multisig wallet backed with three hardware wallets.
On our backend side, we manage a database that cache the smart contract events to keep track of ownership. Our backend also stores temporary assets. In this regard, responsibility it holds is minimal.
Last modified 2mo ago