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Distributed Ledger Technology based Property Transaction System with Support for IoT Devices

Nikita Singh, Manu Vardhan

Source Title: International Journal of Cloud Applications and Computing (IJCAC)9(2)

ISSN: 2156-1834|EISSN: 2156-1826|EISBN13: 9781522567776|DOI: 10.4018/IJCAC.2019040104

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MLA

Singh, Nikita, and Manu Vardhan. "Distributed Ledger Technology based Property Transaction System with Support for IoT Devices." IJCAC vol.9, no.2 2019: pp.60-78. http://doi.org/10.4018/IJCAC.2019040104

APA

Singh, N. & Vardhan, M. (2019). Distributed Ledger Technology based Property Transaction System with Support for IoT Devices. International Journal of Cloud Applications and Computing (IJCAC), 9(2), 60-78. http://doi.org/10.4018/IJCAC.2019040104

Chicago

Singh, Nikita, and Manu Vardhan. "Distributed Ledger Technology based Property Transaction System with Support for IoT Devices," International Journal of Cloud Applications and Computing (IJCAC) 9, no.2: 60-78. http://doi.org/10.4018/IJCAC.2019040104

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Abstract

Blockchain-based distributed ledger technology (DLT) is transforming the existing operational models of economy, financial transactions and other government machineries so as to allow these to operate in a much more secure and decentralized manner. This research focuses on providing framework for decentralized and secure P2P infrastructure for handling e-stamp and property registration mechanism along with interface for verification of document originality. The proposed efficient consensus mechanism reduces the overhead of broadcasting a new block by more than 50% coupled with saving CPU computation power along with network bandwidth. To ensure that even people at remote locations with constrained resources are able to participate and harness these benefits, a cloud server architecture & web interface for verification of property registered deed is also proposed.

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Distributed Ledger Technology based Property Transaction System with Support for IoT Devices

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