Abstract
The transactional information from the mobile wallets is offloaded from the mobile device to the mobile transaction server. The transaction involves various communication standards, confidential transaction information to ensure flawless transaction of data. There exist several encryption techniques to preserve confidentiality, hashing schemes to prove the integrity, signature schemes to prove the identity in the mobile transaction using mobile wallet applications. Even though mobile wallet possesses secure algorithms, the transactions are facing security issues such as double spending, lack of dispute redressal issue, lack of forward secrecy, lack of anonymity in the transaction and security. Therefore, Blockchain based Mobile transaction Scheme is proposed to solve the security issues including integrity, double spending and improve scalability. This paper presents a strategy which implements blockchain framework by using irreversible keys for mobile wallet applications. The proposed scheme proves to be secure against the security attacks and enhances integrity and scalability compared to the existing schemes.
Highlights
Blockchain is a distributed ledger used to transfer the data from one node to another node and only authorized people can open the data [1]
A centralized operation that stores and administers the data and access control policies in centralized ways and leads to a single point of failure. This causes a bottleneck for the entire system since block chain is decentralized in nature; it does not have a single point failure
Blockchain uses decentralized distributed ledger which makes transactions to gets stored in every block after that if we want to modify the data it has to be done in every block, which is difficult for the attackers to find each blocks and modify the data
Summary
Blockchain is a distributed ledger used to transfer the data from one node to another node and only authorized people can open the data [1]. Considering three blocks, each contains data about transactions and if we compare it with some stand-alone word documents, the transaction is clearly defined as the flow process Each block in the Blockchain contains the transaction data, hash value, hash of prior block and timestamp. It is a decentralized ledger, which helps to manage the data and its decentralized nature, and the cryptographic algorithm makes it immune to attack. Blockchain uses decentralized distributed ledger which makes transactions to gets stored in every block after that if we want to modify the data it has to be done in every block, which is difficult for the attackers to find each blocks and modify the data.
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