Traditional peer-to-peer (P2P) transaction systems face several challenges, including security risks, lack of trust, high transaction fees, and dependence on centralized financial institutions. While P2P transactions offer advantages such as faster processing and reduced costs by eliminating intermediaries, they are often vulnerable to fraud, disputes, and unauthorized access. Additionally, many existing digital financial solutions are complex, making it difficult for users with limited technical expertise to navigate them effectively. The solution seeks to tackle challenges by using blockchain technology to build a transparent, secure and efficient financial platform. The system builds user confidence by ensuring that every transaction is permanent, tamper-resistant, and verifiable through the use of a decentralized ledger. By automating financial transactions, smart contracts eliminate the need for middlemen and reduce the possibility of disputes. The platform includes an Angular-built client-facing application that gives users an easy-to-use interface to start and manage transactions. In order to ensure effective connection between the frontend and the blockchain, Flask acts as the gateway for processing requests. To ensure confidentiality and transparency, transactions are recorded on the Ganache blockchain and carried out via Ethereum smart contracts. Users can use their MetaMask wallets, which offer a smooth and safe authentication process, to conduct transactions.

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Decentralized Blockchain-Powered Smart Contract Based Money Lending System

  • M. Kavitha Margret,
  • V. Ranjith,
  • M. Sakthivel,
  • P. Yuven Krishna

摘要

Traditional peer-to-peer (P2P) transaction systems face several challenges, including security risks, lack of trust, high transaction fees, and dependence on centralized financial institutions. While P2P transactions offer advantages such as faster processing and reduced costs by eliminating intermediaries, they are often vulnerable to fraud, disputes, and unauthorized access. Additionally, many existing digital financial solutions are complex, making it difficult for users with limited technical expertise to navigate them effectively. The solution seeks to tackle challenges by using blockchain technology to build a transparent, secure and efficient financial platform. The system builds user confidence by ensuring that every transaction is permanent, tamper-resistant, and verifiable through the use of a decentralized ledger. By automating financial transactions, smart contracts eliminate the need for middlemen and reduce the possibility of disputes. The platform includes an Angular-built client-facing application that gives users an easy-to-use interface to start and manage transactions. In order to ensure effective connection between the frontend and the blockchain, Flask acts as the gateway for processing requests. To ensure confidentiality and transparency, transactions are recorded on the Ganache blockchain and carried out via Ethereum smart contracts. Users can use their MetaMask wallets, which offer a smooth and safe authentication process, to conduct transactions.