NIST IR 8301
Blockchain Networks:
Token Design and Management Overview
Loïc Lesavre
Priam Varin
Dylan Yaga
This publication is available free of charge from:
https://doi.org/10.6028/ NIST.IR.8301
NISTIR 8301
Blockchain Networks:
Token Design and Management Overview
Loïc Lesavre
Priam Varin
Dylan Yaga
Computer Security Division
Information Technology Laboratory
This publication is available free of charge from:
https://doi.org/10.6028/ NIST.IR.8301
February 2021
U.S. Department of Commerce
Wynn Coggins , Acting Secretary
National Institute of Standards and Technology
James K. Olthoff , Performing the Non -Exclusive Functions and Duties of the Under Secretary of Commerce
for Standards and Technology & Director, National Institute of Standards and Technology
National Institute of Standards and Technology Interagency or Internal Report 8301
84 pages ( February 2021)
This publication is available free of charge from:
https://doi.org/10.6028/ NIST.IR.8301
Certain commercial entities, equipment, or materials may be identified in this document in order to describe an
experimental procedure or concept adequately. Such identificat ion is not intended to imply recommendation or
endorsement by NIST, nor is it intended to imply that the entities, materials, or equipment are necessarily the best
available for the purpose.
There may be references in this publication to other publications currently under development by NIST in accordance
with its assigned statutory responsibilities. The information in this publication, including concepts and methodologies,
may be used by federal agencies even before the completion of such companion public ations. Thus, until each
publication is completed, current requirements, guideline s, and procedures, where they exist, remain operative. For
planning and transition purposes, federal agencies may wish to closely follow the development of these new
publicat ions by NIST.
Organizations are encouraged to review all draft publications during public comment periods and provide feedback to
NIST. Many NIST cybersecurity publications , ot her than the ones noted above, are available at
https://csrc.nist.gov/publications .
Comments on this publication may be submitted to:
National Institute of Standards and Technology
Attn: Computer Security Division, Information Technology Laboratory
100 Bureau Drive (Mail Stop 8930) Gaithersburg, MD 20899 -8930
Email: blockchain- token -paper@nist.gov
All comments are subject to release under the Freedom of Informati on Act (FOIA). NISTIR 8301 BLOCKCHAIN NETWORKS :
TOKEN DESIGN AND MANAGEMENT OVERVIEW
ii
This publication is available free of charge from: https://doi.org/10.6028/ NIST.IR.8301
Reports on Computer Systems Technology
The Information Technology Laboratory (ITL) at the National Institute of Standards and
Technology (NIST) promotes the U.S. economy and public welfare by providing technical leadership for the Nation’s measurement and standards infrastructure. ITL develops tests, test
methods, reference data, proof of concept implementations, and technical analyses to advance the development and productive use of information technology. ITL’s responsibilities include the development of management, administrative, technical, and physical standards and guidelines for the cost -effective security and privacy of other than national s ecurity -related information in f ederal
informa tion systems.
Abstract
Blockchain technology has enabled a new software paradigm for managing digital ownership in partial - or zero -trust environments. It uses tokens to conduct transactions, exchange verifiable data,
and achieve coordination across organizations and on the web. Fundamental to this representation
is that users can independently control token custody in digital wallets through public -key
cryptography and intera ct with one anot
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