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A scalable trust based consensus mechanism for secure and tamper free property transaction mechanism using DLT

Author

Listed:
  • Amrendra Singh Yadav

    (Motilal Nehru National Institute of Technology Allahabad)

  • Nikita Singh

    (ICFAI University Hyderabad)

  • Dharmender Singh Kushwaha

    (Motilal Nehru National Institute of Technology Allahabad)

Abstract

The land registry system is one of the very important revenue generator in any governance system that stores land ownership records. There are various issues and loopholes in the existing system that gives rise to corruption and disputes. The digitization of land records is not sufficient to prevent fraud, time delays, and brokers' involvement. Distributed Ledger Technology can be used to make this digitized record more secure and process it in a decentralized way, reducing paperwork in selling and buying of land. This paper presents a scalable and novel blockchain technology-based land/property registration architecture that utilizes a scalable trust based consensus mechanism, where all registry offices participate in improving the registration process. The framework integrates different state registry offices in the country. This article proposes a secure and efficient consensus mechanism compared to fewer message exchanges with the existing Proof-of-Work algorithm. Hence, this approach requires less time to append the block into the blockchain. Time required for message exchange per consensus is lesser by 59.01% than the PoW mechanism and takes 11% less time than the load-based approach.

Suggested Citation

  • Amrendra Singh Yadav & Nikita Singh & Dharmender Singh Kushwaha, 2022. "A scalable trust based consensus mechanism for secure and tamper free property transaction mechanism using DLT," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 13(2), pages 735-751, April.
    • Handle: RePEc:spr:ijsaem:v:13:y:2022:i:2:d:10.1007_s13198-021-01335-0
    DOI: 10.1007/s13198-021-01335-0
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    References listed on IDEAS

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    1. Luisanna Cocco & Andrea Pinna & Michele Marchesi, 2017. "Banking on Blockchain: Costs Savings Thanks to the Blockchain Technology," Future Internet, MDPI, vol. 9(3), pages 1-20, June.
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    Cited by:

    1. Gupta, Somya & Pandey, Dharen Kumar & El Ammari, Anis & Sahu, Ganesh P., 2023. "Do perceived risks and benefits impact trust and willingness to adopt CBDCs?," Research in International Business and Finance, Elsevier, vol. 66(C).

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