A Performance Comparison of Different Security Hashing in a Blockchain Based System that Enables a More Reliable and SWIFT Registration of Land
The core value proposition of this paper is to put the entire land industry onto the same blockchain network, creating a digital network for parties involved in the real estate, using blockchain and smart contracts technology. The land’s unique physical properties and transactions are hashed and maintained in the digital ledger. The land’s history like place of origin and chain of custody are traceable. The blockchain empowers the transparency of the property network. By storing the records on a distributed ledger which is then impossible to alter or tamper, hence implementing land related businesses like registry and selling in blockchain will be a revolution. Different hashing combination is implemented in blockchain to secure the data by simulating randomness. Hash functions keccak256() and ripemd() are combined in the contract and their performances are compared by hash length, time taken and few others.