https://github.com/saranshmanu/skypay
Project to study how blockchain technology works and create a prototype of a blockchain wallet for fintech industry
https://github.com/saranshmanu/skypay
Last synced: about 2 months ago
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Project to study how blockchain technology works and create a prototype of a blockchain wallet for fintech industry
- Host: GitHub
- URL: https://github.com/saranshmanu/skypay
- Owner: saranshmanu
- Created: 2017-05-27T12:58:26.000Z (almost 8 years ago)
- Default Branch: master
- Last Pushed: 2018-03-13T05:45:03.000Z (about 7 years ago)
- Last Synced: 2025-02-01T07:18:59.289Z (4 months ago)
- Language: Swift
- Homepage:
- Size: 162 MB
- Stars: 0
- Watchers: 3
- Forks: 0
- Open Issues: 0
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Metadata Files:
- Readme: README.md
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README
# SkyPay
Immense potential of Blockchain and why to upgrade ?
By 2020 more than 50 billion devices will be connected to the internet and will be powering a market worth $8.9 Trillion. Since all the devices will be connected to central data centres. This could become a single point of security threat for the payment network to go down by hackers which may involve DDoS attacks. This security issues by adoption of blockchain which provides highly secured peer to peer mesh network using sufficiently large number of nodes. As it is transparent and auditable we could establish a highly secure payment network that would allow anonymous transactions without any intermediaries.
How transactions would take place ?
When a digital transaction is carried out, it is grouped together in a cryptographically protected block with other transactions that have occurred in the last 10 minutes and sent out to the entire network. Miners (members in the network with high levels of computing power) then compete to validate the transactions by solving complex coded problems. The first miner to solve the problems and validate the block receives a reward.
The validated block of transactions is then timestamped and added to a chain in a linear, chronological order. New blocks of validated transactions are linked to older blocks, making a chain of blocks that show every transaction made in the history of that blockchain. The entire chain is continually updated so that every ledger in the network is the same, giving each member the ability to prove who owns what at any given time.
SkyPay will be a secured decentralised banking payment solution that would allow totally anonymous transactions to initiate by adoption of blockchain etherium test network providing highly secured peer to peer mesh network using sufficiently large number of nodes. We used Swift 4 for developing the application with BlockCypher API and Firebase SDK to establish backend servers.
MIT License
Copyright (c) 2017 Saransh Mittal
Permission is hereby granted, free of charge, to any person obtaining a copy
of this software and associated documentation files (the "Software"), to deal
in the Software without restriction, including without limitation the rights
to use, copy, modify, merge, publish, distribute, sublicense, and/or sell
copies of the Software, and to permit persons to whom the Software is
furnished to do so, subject to the following conditions:
The above copyright notice and this permission notice shall be included in all
copies or substantial portions of the Software.
THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR
IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE
AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER
LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM,
OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE
SOFTWARE.