A Hybrid Blockchain-based Zero Reconciliation Approach for an Effective Mobile Wallet
Tanvir Ahmed Khan, A S M Touhidul Hasan, Qingshan Jiang, Qiang Qu · 2020
Money-related exchanges are highly dependent upon mobile or banking wallet system, where end-to-end enhancement is necessary to make the entire process efficient. This paper proposes a hybrid blockchain-based wallet design to give a quicker exchange between end-to-end nodes and control transaction failure. To make the blockchain adaptable for the wallet, we need to enable faster transactions and ensure security; thus, any kind of forgery cannot occur. Moreover, to make it highly available and make the transaction faster, we have to redesign the legacy consensus. In the proposed architecture, all nodes do not need to participate in the consensus. Only the participating peers are sufficient, thus we can get faster transaction experience. This paper has redesigned the legacy wallet architecture to make it compatible with the blockchain-based platform by using Corda. We have shown the transaction prerequisites such as validity consensus, uniqueness consensus, and overall efficiency and shown a qualitative comparison with legacy architecture.