Web-Based Cryptocurrency Transfer
E.Laxaman1, K.Akshitha2, P.Giridhar2, B.Chiranjeevi2, P.Arun2
1Assistant professor, Dept. of CSE (Data Science), CMR Engineering College, Telangana, India
2UG student, Dept. of CSE (Data Science), CMR Engineering College, Telangana, India
Abstract - Middlemen handle disputes during the payment process to ensure that it remains seamless and efficient in systems that are highly distributed. It boils down to primarily addressing common challenges like fraud, transaction speed, and the need for transparency. This paper presents a web-based payment system designed to facilitate the transfer of cryptocurrency over the internet without relying on any intermediaries by leveraging ledger-based distributed technology, automated agreements, and protection measures. This ensures seamless operations with fewer intermediaries while maintaining efficiency and safeguarding transactions. Our implementation consists of a simple web application built using React, Node.js, and CSS for a responsive front end. The backend incorporates autonomous agreements and is tested using a simulated blockchain network, facilitating trustless record-keeping. MetaMask compatibility allows users to link wallets and securely execute digital asset exchanges, reducing transaction costs and ensuring visible, verifiable transfers. This paper contributes to the growing body of knowledge on open finance (DeFi) and serves as a cornerstone. Our website offers an operational example of these concepts, providing a realistic viewpoint on blockchain-based payments in real-world scenarios. While it establishes a protected structure, off-chain agreements are susceptible to coding flaws or exploitation. Poorly designed contracts can lead to financial losses if attackers identify and take advantage of weaknesses.
Performing thorough security evaluations and adopting best practices in contract development are crucial to ensuring strong protection against potential threats.
Key Words: Blockchain Payments, Cryptocurrency Transactions, Decentralized Finance (DeFi), Smart Contracts, Distributed Ledger Technology
