IMPLEMENTATION OF ALGORITHMS FOR FIXED DEPOSIT USING SMART CONTRACT

Abstract

The implementation of a framework for a fixed deposit system using smart contract in Remix IDE provides a secure and efficient method for managing fixed deposit accounts. This system utilizes the Ethereum blockchain, which ensures transparency, security, and immutability of data. The Smart Contract is coded using the Solidity programming language and designed using the Remix Integrated Development Environment. The framework allows for the creation of new fixed deposit accounts, depositing funds, and withdrawing the funds. Additionally, the system implements interest calculations and provides notifications to the account owners. This framework provides a reliable and automated fixed deposit system, improving the functionality of financial institutions.