International Research Journal of Engineering and Technology (IRJET) Volume: 09 Issue: 05 | May 2022
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e-ISSN: 2395-0056 p-ISSN: 2395-0072
A LIGHTWEIGHT PAYMENT VERIFICATION USING BLOCKCHAIN ALGORITHM ON IoT DEVICES Rajagopalan.B1, Revanth.R2, Sandhiya.G3, Shamsiya Banu.A.R4, Ms. Abirami .S5 1,2,3,4 Department
of Electronics and Communication Engineering, SRM Valliammai Engineering College of Electronics and Communication Engineering, SRM Valliammai Engineering College ---------------------------------------------------------------------***------------------------------------------------------------------ --5Department
Abstract - A blockchain is a upcoming revolutionary one
with crypto smart contract that is used for token transaction with the help of unique address id. In this blockchain transactions, each block contains unique id ,hash rate and the content of the previous block .In this manner all the blocks are interconnected to ensure security. In terms of privacy and security it fulfils everything, here the sender and receiver cannot be known by the third man. Tampering these integrated blocks will be difficult. All the blocks in the blockchain are encrypted If one has to tamper or steal the data from the blocks, they have to hack 60-70% of the blocks. If they fail to do ,the system will automatically initialize the tamper blocks as NIL so that the tokens that are hacked by hacker will be declared as void. Image if we add this type of security to our IOT and next gen devices, we can reduce the tampering and data stealing can be minimal. Here we are done a basic payment verification blockchain coding in python and we implemented it on the IOT device (ESPN kit)
Blockchain on IOT Engineers can utilise blockchain data sharing to enable IoT devices to communicate with one another in the IoT. The gadgets accomplish this without the use of a centralised network. The distributed network of computer systems that makes up the blockchain makes those communications tamper-proof. Hundreds of billions, if not trillions, of devices will be connected to the Internet of Things. However, most of these devices now interact through centralised computing systems, which can fail at times. Other issues are caused by hackers. And the costs are enormous. Blockchain, on the other hand, avoids this by establishing a digital ledger of data, such as transactions. By confirming and adding to the blockchain, each data block builds on the previous one.
INTRODUCTION A blockchain is simply a distributed database of records or public ledger of all completed and shared transactions or digital occurrences. Every transaction in the public ledger is confirmed by a majority of the system's members. Information cannot be deleted once it has been entered. Every every transaction ever made is recorded in the blockchain, which is certain and provable .To give a simple analogy, stealing a cookie from a cookie jar stored in an isolated location is far easier than stealing a cookie from a cookie jar placed in a market place when hundreds of people will watch the process.
Leasing a truck. According to the Gartner Inc. research "Integrating Blockchain With IoT Strengthens Trust in Multiparty Processes," IoT sensors installed in leased vehicles may record crucial events on a blockchain to better monitor fleet whereabouts and returns, as well as to enable more meaningful payment methods. With IoT sensors on board vehicles, truck leasing businesses will be able to charge renters fees depending on the torque of the loads rather than miles, as is now the case," according to the article. "The blockchain distributed ledger technology allows people to share a single version of the truth." The data is not controlled by any single institution, and truckers and leasing businesses may independently check their own copies of the distributed ledger. This blockchain/IoT connection should aid leasing organisations in increasing income while lowering costs.
A blockchain is simply a distributed database of records or public ledger of all completed and shared transactions or digital occurrences. Every transaction in the public ledger is confirmed by a majority of the system's members. Information cannot be deleted once it has been entered. Every every transaction ever made is recorded in the blockchain, which is certain and provable .To give a simple analogy, stealing a cookie from a cookie jar stored in an isolated location is far easier than stealing a cookie from a cookie jar placed in a market place when hundreds of people will watch
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