Crypto Pay: Design of Public Blockchain Platform

Abstract

Blockchain is a decentralized distributed platform that allows multiple peers to exchange digital assets securely all over the globe without third party. In blockchain, blocks are connected by using hash that maintains the order of transaction. In this paper, a crypto currency transfer in Web 3.0 platform is built based on Ethereum Blockchain to implement decentralized application. This paper is also focused on the latest cutting-edge technology to transfer funds easily and very efficiently and quickly. The working model can solve issues regarding many spheres of the multiverse and can be connected to transfer real cryptocurrency anywhere across the globe. The main uniqueness of the model that it offers to its users with full trustiness and curb the wrong uses of third parties to control any transactions of Web 2.0, especially tracking or hacking sites or data servers and block any transactions and transact money into a wrong account. Here, the transaction is verified, decentralized, and secured where no third party is involved in the process actively and no personal logged data is required. Each transaction can be seen and matched by the address stored on the transaction site of Ethereum. This research paper concludes with the implemented methodology for creation, deployment on Ethereum, blockchain, and interaction of smart contract using ReactJS, EthersJS, alchemy API and hardhat. Just people need to understand the appropriate usage of Cryptocurrency transactions using virtual wallets.