Secure E-commerce Trading Using Blockchain with Smart Contract Based on Proof of Work

Abstract

Progressing proficiency and performance are a necessary topic in today's world and security in the transaction system is not out of it. There are several Blockchain and Smart contract methods have been created and put to use in health care applications, banking industry, real property transactions, smart home appliances, cloud-based internet of things (IoT), medical transcript, data access and permission, E-Voting Recording, Online Education, virtual power plant etc. E-commerce trading is one of the basic needs in the present world, but there are few Blockchain and Smart Contract findings in this area and a lack of properly implemented models. Therefore, in this work, there is an implementation of Blockchain and Smart contract model to secure E-commerce trading. There is a proposed algorithm to secure the trading. Furthermore, the proof of work concept is used to demonstrate Blockchain transaction implementation. The features of the protocol include a proof of work consensus algorithm, a verification of the Blockchain to prevent tampering, the generation of wallets and the signing of transactions. Smart contract implementation is shown by Ethereum smart contract with solidity. The methods are tested by using JavaScript VM virtual Blockchain. In E-commerce, this proposed model shows a better performance in terms of fast and secure transactions.