Efficient Payment Verification Scheme for Blockchain

Abstract

In today’s world, The usage of centralized system are common and complex which poses  to high risk of tampering and hacking of data that also causes high cost of setting and high transaction fee for every process .So the alternative for current centralised system is use of decentralised network is much effective way to avoid tampering and hacking of data.Block chain is the decentralised distributed network allows a peer to peer communication.Block chain has grown up to be a fintech organisation emerging research ,supply chain and in enterprises.Block chain is great at things such as Transparency,authentication and for auditing.Rampant counterfeit banknotes (Fake notes) problems can be solved by digitizing currency.Also the consumer's rights and interests can be protected .Digitialized transactions can make much more simple for auditing purpose than by manually auditing.