Remodeling E-Commerce Through Decentralization: A Study of Trust, Security and Efficiency

Abstract

While there has been a massive growth in online shopping platforms. There data has been mostly stored in centralized storages which mean they can be an easy target to fraud and theft. It is important to preserve the data of the product and the user in a secure and decentralized manner. With the advent of blockchain technology across the horizon, it is necessary to build a marketplace model that works in a reliable way on this technology while combating the shortcomings of the previous models. Aim of this paper is to address the issues and propose a model that can get reduced fees costs while uploading the data to the blockchain that is uploading the item for sale and while purchasing the item, we also as well as find a solution to collusion from different parties. The end result of this paper should be a fully functional application that is capable of reducing gas fees and increases user reliability on the platform.

Keywords

Blockchains, Decentralized Marketplace, Collusion Attacks

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