Problem statement
Peer-to-peer transactions within the Open Network for Digital Commerce (ONDC) face significant data security challenges, including the risk of unauthorized access, data breaches, and privacy concerns. Traditional transaction systems may lack robust security measures, exposing users to potential threats and compromising the integrity of sensitive information exchanged during peer-to-peer transactions.
Abstract
Develop and implement advanced data security measures for peer-to-peer transactions within the ONDC. Utilizing state-of-the-art encryption techniques, secure key management, and privacy-preserving protocols, the project aims to address privacy concerns and ensure the secure exchange of data between users engaging in peer-to-peer transactions. This solution will enhance the overall trustworthiness of the ONDC ecosystem and safeguard user data from potential threats.
Outcome
The project’s outcome is an ONDC system with significantly enhanced data security for peer-to-peer transactions. This includes robust encryption mechanisms, secure key handling, and privacy-preserving protocols, ensuring that sensitive user information is protected throughout the transaction process. The implementation of these security measures will mitigate the risk of unauthorized access and data breaches, fostering a secure and trustworthy environment for users engaging in peer-to-peer transactions within the ONDC. The overall outcome is an improved level of data security that instills confidence in users and promotes the continued growth and adoption of the ONDC platform.
Reference
The underlying or core technology of Bitcoin cryptocurrency has become a blessing for human being in this era. Everything is gradually changing to digitization in this today’s epoch. Bitcoin creates virtual money using Blockchain that’s become popular over the world. Blockchain is a shared public ledger, and it includes all transactions which are confirmed. It is almost impossible to crack the hidden information in the blocks of the Blockchain. However, there are certain security and technical challenges like scalability, privacy leakage, selfish mining, etc. which hampers the wide application of Blockchain. In this paper, we briefly discuss this emerging technology namely Blockchain. In addition, we extrapolate in-depth insight on Blockchain technology.
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