Private Transactions and Mining of Crypto Currency Using Block Chain

R. Monika, Mukka Priyanka and R. Aishwarya

Cryptocurrency is a Decentralized Digital currency which is been utilized in several field corresponding banking, donation, hospitals and Security is principle concern for many user clients. All together every individual block forms a block chain, where all individually block stores mutually present hash value and the previous has value. Consequently, no unauthorized users can access or view our account. Thus, it makes problematic for hackers to perform any changes in details and to perform any transactions. Here every individual user gets the digital signature that is known as private key which cannot be shared with anyone. In this project work the succeeding techniques are principally used corresponding Proof of Work [POW] algorithm is used through various cryptocurrency like tokens and coins, Secure Hashing Algorithm [SHA-256] used to generate different private keys and public keys to proceed with the further phase of transaction, RSA algorithm is used designed for the encryption of the transaction details of public key. Succeeding stage is performed by the miners and here they need to solve very hard mathematical puzzle later miners seek eligibility permission to view the transaction details and they check whether the tokens or coins are adequate to perform the transaction, Miner performance become effected when many additional blocks with different network are contemporary. For the encryption and decryption of the data information we are using only private method. For performing the hashing algorithm initial, we will be generating private node which can be stored in the isolated document.

Volume 12 | 05-Special Issue

Pages: 1426-1431

DOI: 10.5373/JARDCS/V12SP5/20201902