International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 11 Issue: 06 | Jun 2024
p-ISSN: 2395-0072
www.irjet.net
Escrow Platform Using Blockchain Mohd Azharhuddin Chaudhary1, Arsalan Khan2, Anurag Waghamare3, Omkar Kengale4 1Student, Department of Computer Engineering, VPPCOE&VA, Mumbai
Student, Department of Computer Engineering, VPPCOE&VA, Mumbai Student, Department of Computer Engineering, VPPCOE&VA, Mumbai 4 Student, Department of Computer Engineering, VPPCOE&VA, Mumbai 2 3
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Abstract - This project introduces an innovative
An innovative aspect of our platform is the method of user login via cryptocurrency wallets. This approach ensures both user convenience and establishes trust and security as users engage in transactions, forming the foundation of the secure environment we aim to provide. Trust is fundamental to any trading platform, and our project offers users a selection of trusted middlemen for their transactions. These middlemen, verified based on reviews and activity, provide users with added assurance and reliability. Transparency is another key feature of our platform's design. Users can create trade requests and optionally include blockchain-logged contracts, creating indisputable and transparent records of the transaction. This transparency instills confidence in users, knowing that their transactions are securely recorded. Security is paramount throughout the transaction process. Whether it involves the safe transfer of digital items or the one-way flow of cryptocurrency, our platform is meticulously designed to protect users' assets and interests. Successful trades result in secure completions, while any unsuccessful ones are promptly addressed. The platform is underpinned by the robust and immutable technology of blockchain, ensuring transparency and creating permanent, tamper-proof transaction records. Furthermore, we exclusively utilize cryptocurrency for transactions, offering global reach, cost-effectiveness, and enhanced privacy. Our project represents a harmonious convergence of blockchain security with cryptocurrency efficiency, aiming to redefine the landscape of digital asset trading. By prioritizing user freedom, privacy, and transparency, it is poised to revolutionize the way digital assets are exchanged and safeguarded in the modern digital era.
platform that transforms digital asset trading, particularly focusing on cryptocurrency transactions. Users access the platform through their cryptocurrency wallets, ensuring trust and security. A curated list of verified middlemen allows users to select trusted intermediaries based on reviews and activity. Trade requests are facilitated, optionally accompanied by blockchain-logged contracts, ensuring transparent and indisputable records.[1] Emphasizing security, digital items are transferred securely, and cryptocurrency flows one-way for added protection. Successful trades conclude securely, while unsuccessful ones are promptly addressed. The platform relies on blockchain technology for transparency and immutable records, with cryptocurrency as the exclusive medium for global transactions, ensuring costeffectiveness and privacy.[2] This project seamlessly integrates blockchain security with cryptocurrency efficiency, offering a transformative solution for digital asset trading in the contemporary digital landscape. Prioritizing user freedom, privacy, and transparency, it promises to revolutionize the exchange and protection of digital assets.[3] Key Words: Cryptocurrency trading, Digital asset exchange, Blockchain security, Verified middlemen, Transparent records, Secure transactions, Privacy protection, User trust, Cost-effective transactions.
1. INTRODUCTION In the contemporary digital landscape, the trading of digital assets, particularly cryptocurrencies, has become a cornerstone of the modern economy. Our project seeks to revolutionize this digital trading ecosystem by introducing a platform designed to prioritize and deliver enhanced security, efficiency, and transparency to users engaged in the exchange of digital assets. At the core of our project is the concept of secure peer-topeer digital trades, with a primary emphasis on cryptocurrency transactions. In a world where digital assets play an increasingly significant role, the need for a reliable and user-friendly platform cannot be overstated.
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Impact Factor value: 8.226
1.1 AIM AND OBJECTIVE Our project aims to revolutionize digital asset trading by introducing a secure and efficient platform focused on cryptocurrency transactions, bridging blockchain security with global accessibility. Objectives include creating a userfriendly interface, enhancing security measures, offering trusted middlemen, promoting transparency through blockchain-logged contracts, ensuring successful transactions, and promptly resolving trade issues. Leveraging blockchain tech, we exclusively use
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