A Blockchain based P2P Transaction Model
K. Venkata Prasad · International Journal for Research in Applied Science and Engineering Technology · 2020
With the growing demand for information technology, the digital economy is developing at a large pace. Blockchain (BT) is the medium, which connects the world's economy to the digital economy. Blockchain has importance in these applications, which manage finance and cryptocurrencies etc. Blockchain technology provides distributed management of ledgers with secure and smart transactions. In existing studies, there is no reasonable proposal for P2P transactions in Blockchain technology. The proposed work is implemented a peer-to-peer (P2P) application in Python programming language with blockchain technology. The secure transaction is ensured in the proposed system using SHA hash techniques. The proposed work used BT to create smart transactions between any number of Peers and creates an association between digital transactions and physical transactions. The proposed work ensures data security and provides trust among p2p network transactions. All peer nodes in the blockchain calculate or can mine a block and create the remaining amount in parallel, and then summarize the results. This makes good use of the vast resources of the processing unit resources in the blockchain and makes the calculation precious.