A Trustworthy Decentralized Onkart Ecommerce Platform based on Blockchain Technology

Abstract

Onkart is a blockchain decentralized e-commerce platform for buying and selling e-commerce products. The seller can sell the product and the buyer can purchase the product directly without the intervention of a third party. When a seller adds a product to the platform, they stake 1% of the price of the product in their stake on the platform, and similarly place an equal number of tokens together when a buyer places an order for the product. Price tokens for items in the platform's stake. If the buyer confirms receipt of the product without dispute, the seller will receive their stock tokens and the price of the product. Similarly, buyers receive their stake on the platform. This incentive mechanism will make the admins do their work without any manipulation. This mechanism avoids the seller/ buyer from doing malpractices since their amount is in stake in the platform. Hence, this provides decentralized application which is friendly to use. This system follows Consensus based Blockchain network which is more secure, and its functionality is protected by smart contracts. In terms of latency and throughput demonstrating the Onkart decentralization effectiveness in the products of e-commerce, the results are discussed for the betterment of safety of products and to ensure that there is sustainability in terms of society and finances.