A Comprehensive Review and Analysis on Decentralized Payment Gateways

Abstract

Blockchain technology has drawn enormous interest both in the academic and industrial sector. However, Blockchain technology is now used for a variety of experimental applications and explorations in the finance sector. Between centralized and Decentralized blockchain technology, Decentralized blockchain technology simplifies the transaction payment mechanism by establishing a decentralized general ledger to boost the regulatory capability by eliminating inefficient intermediates. In this study, We mainly focused on Decentralized Blockchain technology in the payment sector. Firstly, we briefly explored various decentralized application systems and analyzed current decentralized payment gateways, including their benefits and drawbacks. After that, analyse the blockchain technology for the payment system. Finally, we talk about different decentralization market clusters.