Abstract
Blockchain technology has greatest impact in the last few decades. The blockchain has distributed ledger of all transactions across a peer-to-peer network. In the existing traditional seller-buyer system, the seller provides an interface to the user for ordering goods. This system provides a facility to the customer for payments of their orders through a trusted third party which is a bank. In case the centralized system is failed then the functioning of the entire system is affected along with the loss of data integrity. For the solution to this problem Smart contract provides distributed peer-to-peer communication. In this proposed work, the transaction among the nodes is coordinated by the smart contract. This smart contract-based seller-buyer exchange model provides peer-to-peer transactions in which no data is dependent on a central authority. In this proposed model, the seller and buyer communicate directly by a set of protocols that executes automatically when conditions are met. Further, this method maintains data consistency, transparency, and integrity because all the transactions among the nodes execute in a distributed way. The consensus mechanism among the nodes validates and authenticates the peer-to-peer transaction in the blockchain.
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Patel, A., Singh, B. (2023). Implementation of Smart Contract Using Ethereum Blockchain. In: Shaw, R.N., Paprzycki, M., Ghosh, A. (eds) Advanced Communication and Intelligent Systems. ICACIS 2022. Communications in Computer and Information Science, vol 1749. Springer, Cham. https://doi.org/10.1007/978-3-031-25088-0_13
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