Node Key NFT (Non-Fungible Token)

The Node Key NFT is a distinctive, non-fungible token essential for the operation of a Node within the OWNCHAIN network. This NFT acts as verification of a node's right to lodge claims and collect rewards. It is created through the dispatch of a specific Ether amount, with the minting price governed by a progressively increasing threshold system.

This Node Key is integral to the Referee smart contract's operations. To partake in a challenge by submitting an assertion, a node must present its Node Key ID. The Referee contract then verifies the Node Key's legitimacy and whether the node is either the Node Key's owner or an authorized operator. Upon satisfying these prerequisites, the node’s assertion is accepted for the challenge.

The Node Key also comes into play during the reward claim process for a successful assertion. The Referee contract ascertains whether the Node Key owner has completed KYC verification and if the assertion qualifies for a reward. Once these criteria are met, the reward is allocated to the Node Key owner.

Essentially, the Node Key NFT is a pivotal element within the OWNCHAIN ecosystem, facilitating the smooth functioning of nodes, enabling the submission of assertions, and guiding the rewards distribution process.