Signature Encryption using Blockchain
Saurav Jaiswal
Saurav Jaiswal, Department of Computer Science and Engineering, Sathyabhama Institute of Science and Technology, Chennai (Tamil Nadu), India.
Manuscript received on 18 September 2024 | Revised Manuscript received on 27 September 2024 | Manuscript Accepted on 15 December 2024 | Manuscript published on 30 December 2024 | PP: 1-5 | Volume-14 Issue-2, December 2024 | Retrieval Number: 100.1/ijeat.B455514021224 | DOI: 10.35940/ijeat.B4555.14021224
Open Access | Editorial and Publishing Policies | Cite | Zenodo | OJS | Indexing and Abstracting
© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: A secure, non-corruptible, and distributed database technology working on the concept of hashing and decentralized networks. A blockchain is on peer-to-peer technologies, thus there is no chance of failure. When a transaction occurs between two nodes, it is stored in the form of a block using a cryptographic mechanism, making it extremely difficult for a third party to tamper with or corrupt it. This cryptography mechanism is responsible for generating each hash based on the previous hash and recording it along with a nonce. Hence, this makes each transaction in the block linked to the prior transaction. If any of the transactions are breached, all the other blocks on the network will immediately show the affected changes. The banking system, in recent days, appears highly reliable on paper, but its processes are outdated and lengthy. It is necessary to have an upgraded system integrated with consistent and trustworthy technology that could overcome fraud and security issues. Blockchain technology can give financial institutions the much-needed technological edge. In this project, we aim to secure digital signatures using SHA-256 encryption and facilitate secure transactions over a decentralised banking network. We will be developing a secure banking network so that all the sophisticated banks’ data is protected and does not reside on a central network. Instead, it gets stored in each node server of the distributed banking network.
Keywords: Blockchain, Banking, IPFS Storage Protocols, Hashing, SHA, Cryptography, Distributed Ledger.
Scope of the Article: Computer Science and Applications