Blockchain Technology in E Commerce: Enhancing Security and Transparency in Digital Transaction

Abstract

It is anticipated that blockchain-based technologies will significantly alter a wide range of corporate processes and applications, which will have a significant impact on ecommerce. This study introduces a blockchain-based ecommerce transaction model, emphasising how it might improve efficiency, security, and transparency. By merging the state-of-the-art Blockchain Consent Algorithm (BCA) with Distributed Ledger Technology (DLT), particularly Decentralised Identifiable Distributed Ledger Technology (DIDLT), this study investigates how to improve the security and privacy of ecommerce transactions. This study examines the ways in which BCA, a state-of-the-art consensus algorithm created for blockchain environments, and DIDLT, which integrates decentralised identity management with blockchain technology, cooperate to safeguard e-commerce transactions against data manipulation, payment fraud, and identity theft. By offering a thorough examination of their application, this study elucidates the potential of BCA and DIDLT to revolutionise the e-commerce security and safety sector. The network's safety efficacy is greatly increased by using the integrated DIDLT-BCA model, which leads to 99.1% security, up to 150 milliseconds in performance times, and times of mining of up to 0.99 seconds.