Distributed Blockchain Framework Against Cyber Attacks: A Case Study for Real Estate Land Transactions

Abstract

Real estate like land is a valuable object. The authenticity and accurate tracking of property equity and land ownership data is a difficult endeavor. Because property ownership can shift over time, and often quite frequently, preserving detailed and lengthy ownership transfer documents may be a difficult job. The situation is exacerbated further by the availability of fake or imperfect registers and they are extremely hard to track back in time. Blockchain technology replaces the need for a centralized authority to authenticate the integrity of data and ownership and also facilitates technology platform operations and exchanges. It allows for secure and pseudo-anonymous operations and straight contracts between the concerned parties. It includes crucial characteristics like decentralization, immutability, and openness that might help resolve critical challenges in land and property transactions including an insufficient moment in time records and problematic information access. In an effective and digital real estate transaction context, interoperability is essential, it allows software technology and information platforms to connect safely and quickly, share data, and utilize data. Unfortunately, modern real estate transactions suffered from blindsight, delaying communications, and incompatible operational environments due to a lack of interoperability. Blockchain allows users to safely and pseudo-anonymously retrieve historical, complete, and tamper-free real estate information held in disparate systems. The proposed system uses consensus algorithms like POW and hashing algorithms like SHA 256 to secure the data and it uses customized blockchain to create a distributed ledger of land transaction records. The proposed system maintains land records for the control of blockchain-based transactions and automated data recovery from third-party attacks. The system also fixes issues of data confusion during the transaction.

Keywords-Land Transaction, Smart contract, Consensus, Hash Generation, Proof of work, mining, majority voting