Novel Framework to Secure User Authentication Details During the Financial Transaction Using Blockchain Codes in the Cloud Environment

Abstract

Purpose: In the digital era, secured financial transaction is a challenging task for the banking sector when involving a third-party service provider. With the extended knowledge about networks and security, hacking and attacks are also being updated accordingly. The hackers always aim to attack the financial transaction server to duplicate the session or to impose on the user through their identity. This type of attack always occurs in a weak server where the transactions were not protected by a proper methodology. Design/Methodology/Approach: This model is developed using the elliptical curve encryption technique integrated with the chaotic map encryption algorithm for the Blockchain networks in the cloud environment. The security of the transaction is assured through the hash functions generated during each transaction and the different factor authentication of the user and the server. Findings/ Results: The computational time of the proposed model is reduced by 33% than the existing models and the encryption and decryption costs were also minimized by 18 % and 15% respectively proving the efficiency of the proposed model. Paper Type: Experimental Research