Distributed Ledger Technology-based land transaction system with trusted nodes consensus mechanism

【Author】 Yadav, Amrendra Singh; Agrawal, Shivani; Kushwaha, Dharmender Singh

【Source】JOURNAL OF KING SAUD UNIVERSITY-COMPUTER AND INFORMATION SCIENCES

【影响因子】8.839

【Abstract】Blockchain technology is an emerging solution to various financial applications that require a secure and tamper-proof transactions system. One such application is the land registry. Management of transactions for land registration is a tedious task. It is highly insecure and subject to forgery land records, Issues in verification, mediators, etc. This article presents a scalable and novel property/land registration frame-work based on blockchain technology. The transparent and immutable nature of blockchain technology makes it reliable for intrusive and fraudulent land registration activities. The framework uses the InterPlanetary File System (IPFS), a Peer-to-Peer (P2P) swarm network. It allows the sharing and storing of data in an efficient, decentralized, and transparent manner. This article also proposes a Trusted Node Consensus Algorithm (TNCA) based on the miners' trust value that minimizes the computational over-head of broadcasting the new block. The proposed approach -trusted node consensus algorithm requires lesser time to add the block into the blockchain, and message exchange per consensus is 58.94% lesser than the traditional Proof-of-Work (PoW) approach and 26.44% lesser time than the existing load -balanced method. (c) 2021 The Authors. Published by Elsevier B.V. on behalf of King Saud University. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).

【Keywords】Blockchain; Peer-To-Peer computing; InterPlanetary File System; Distributed Ledger Technology; Property transaction system; Consensus mechanism

【发表时间】2022 SEP

【收录时间】2022-10-17

【文献类型】理论模型

【主题类别】

区块链应用-实体经济-财产交易