Safeguarding The Financial Transactions With The Aid Of Blockchain Technology

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ISSN: 2349-6002 ESTD Year: 2014

UGC approved journal no 47859

Safeguarding The Financial Transactions With The Aid Of Blockchain Technology
Author(s):
Shaista Shireen, Dr. Sameena Banu
Keywords:
Blockchain Technology; Bitcoin; Hacking
Abstract
The emergence of digital technology has changed people's lives forever. In the financial sector, there have been numerous hazards and scams discovered. Banking systems have a centralised database, making it easier for an attacker to gain access to data and making the system insecure. The problems of this centralised approach can be minimised by changing the structure and using block-chain technology instead of tokens. Block-chain uses a decentralised design to store and retrieve data across a database. Database hacking attacks are reduced as a result. Each block in the network confirms block-chain transactions, increasing their security and supporting the financial system.
Article Details
Unique Paper ID: 153280 Publication Volume & Issue: Volume 8, Issue 6 Page(s): 318 - 322
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