NIST announces the release of Draft NISTIR 8301, Blockchain Networks: Token Design and Management Overview, which provides a high-level technical overview and conceptual framework of token designs and management methods. The document highlights the different types of tokens and how they are held in custody. It then examines transaction management under three fundamental aspects: validation, submission, and viewability. Infrastructure tools used to develop applications that integrate blockchain networks and second layer protocols are also reviewed. Finally, the paper presents deployment scenarios and use cases for tokens before concluding with potential breakthroughs in privacy-preserving verifiable data exchange. The terminology, concepts, properties, and architectures introduced in this work can facilitate understanding and communications among business owners, software developers, cybersecurity professionals within an organization, and individuals who are or will be using such systems.
A public comment period for this document is open through October 30, 2020. See the publication details for a copy of the document and instructions for submitting comments.