A Fog Computing Architecture Integrating Blockchain and Internet of Things for Securing Bank Accounts

Abstract

Blockchain technology provides high levels of data security, as well as decentralization, open and transparent network infrastructure, and cheap operational costs. Even in the generally conservative world of finance, these excellent traits make blockchain an extremely practical and in-demand solution and also in constrained banking business. Banking activities are inextricably linked to deposits and loans. Because the deposits are not controlled by a single company, a distributed ledger-based system for loans and deposits, is decentralized and cannot go bankrupt. Use the block chain technique to validate and trace transactions for online commerce. Block chains were created to handle certain transactions with specific validation needs. A value chain's systems all save blocks of time-stamped transactions. A blockchain is a decentralized ledger in which all participants can see each other's transactions. A blockchain is a distributed ledger that records asset trades between members of a community. The connection between two blocks is made using the SHA-256 algorithm. Block chain breaks data into little parts and distributes them around a network of computers instead of storing data in a single spot or uploading it to a cloud service. It is a decentralized digital transaction ledger with no central control point. Data will not be lost if one or two nodes fail because each computer (or node) has a full duplicate of the ledger. It effectively eliminates the middleman, as there is no need to seek the assistance of a third-parties to conduct a transaction. Instead of putting their faith Users can trust a decentralized, immutable ledger in a vendor or service provider. Also, use the fog server system to save duplicate storage and prevent unauthorized access.