Blockchain Integration

Our application leverages the innovative power of the Algorand blockchain, ushering in a groundbreaking era of digital asset management.

Our application benefits immensely from Algorand’s fast transaction speeds and low operational costs. This is particularly advantageous for applications that demand high throughput and cost efficiency. Algorand’s scalable and robust architecture is also a significant boon for institutional applications and complex app development.

Rapid Transaction Processing: Algorand’s capacity for quick transactions is vital for applications handling a high volume of interactions.

Low Operational Costs: The platform’s low fee structure is ideal for maintaining economic efficiency in blockchain integration.

Stability and Scalability: Algorand offers a balanced, scalable, and stable platform, essential for applications that need to grow without compromising on performance or security.

Integration with Algorand SDK

Our application’s integration with the Algorand SDK enables us to maximize blockchain functionalities efficiently.

We provide digital notarization and signature services, making each document or file authenticity verifiable and permanently recorded on the blockchain.

ARC-0019 Standard

Using the Algorand Standard Assets (ASA) and conforming to the ARC-0019 standard, we tokenize every file uploaded onto Toknox. A key feature of the ARC-0019 standard is the mutability of asset metadata. This flexibility allows us to update the metadata over time, maintaining a dynamic and current representation of each digital asset.

Whenever digital signatures are added to a notarization, our system updates the metadata associated with the corresponding NFT by adding the signatures and signers’s addresses. This ensures that each tokenized file's metadata reflects its current status and the history of transactions, such as notarization, sending, or signing events.

sign_bytes Function

By utilizing Algorand’s secure environment, our application facilitates robust digital signature functionalities, thereby enhancing security and trust in digital transactions.

We use the sign_bytes(to_sign, private_key) function in the Algorand SDK to sign arbitrary byte data, specifically the SHA-256 hash of the files with the private key of the user's wallet, ensuring the integrity and authenticity of the data. The output is a base64-encoded string representing the signature, providing a secure and verifiable way to confirm the authenticity of the signed data.

Verify through indexer

To verify tokenized files on the Algorand blockchain, the app first generates a unique 32-byte asset name from the SHA-256 hash of the document using a folding algorithm. Using this asset name and the asset creator’s address, the Algorand indexer searches the blockchain to find the document's original tokenization. It retrieves the reserve address from the token, decrypts the CID contained within, and accesses the document's metadata on IPFS. This metadata verifies the document's authenticity and integrity, providing a transparent and secure verification method.