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[123widpress]

Transaction Security and Management of Blockchain-Based Smart Contracts in E-Banking-Employing Micro-segmentation and Yellow Saddle Goatfish

Authored by:- Wid Alaa Jebbar and Mishall AL-Zubaidie

for full-length paper press here.

Abstract:-

Our research attempts to improve the system in which banks deal with the security of financial transactions. This research leverages the idea of micro-segmenting the entire system into designated zones to concentrate on security, where each zone has its own rules and limitations. These rules are managed by a smart contract, which decides whether they have been observed to verify the legitimacy of the customer. First, the two-phase commit algorithm (2PC) was used to specify the type of e-banking request. After this, the micro-segmentation principle was applied to isolate each type of e-transaction process alone in a separate segment. Then, the yellow saddle goatfish algorithm (YSGA) was used to determine whether the smart contract conditions were optimized. Finally, if the customer is authorized, then the entire transaction process is saved in the blockchain's main ledger and secured by a unique hash. The blockchain application makes our system capable of dealing with large numbers of users in a decentralized manner.

Facts:-

Our system has been examined against several recent well-known assaults/attacks, such as falsification, advanced persistent threat, bribery, spoofing, double spending, chosen text, race, and transaction replay attacks, and has proven to overcome them. In terms of the performance evaluation, we obtained an execution time of approximately 0.0056 nanoseconds, 3.75% complexity, and 1500 KB of memory and disk drive, which is considered low compared to that of state-of-the-art research. Thus, our proposed system is highly acceptable for banking sector applications.

our main contribution

Our contributions are as follows:

The level of security can be increased by using the micro-segmentation principle for the first time with financial systems to isolate each process alone in a separate segment, where if one segment is affected by an assault, then the other segments will remain isolated and safe. To the best of our knowledge, this contribution has not been previously studied.

Two phases of authentication are applied: first, smart contract condition detection, and second, hashing and ID detection in BCT. This procedure will make the authentication process more powerful. There will be no entrance to the system from any assaulter unless he/she is verified in both phases.

The increase in the time consumption and execution time of the specified e-banking process depended on the properties of the YSGA, which is considered one of the fastest search algorithms. To the best of our knowledge, this approach has not been previously applied in e-bank systems.

How does the system work:-

The proposed system's hierarchy. Initially, the proposed system determines the type of CR request based on the decision of the 2PC algorithm and then creates a separate segment for each type of e-banking process after the transaction processes are combined alone in a separate segment. The detection phase of the SC's conditions will start based on the fast detection of the YSGA result.

RESULTS:-

Our proposed module has the following characteristics and advantages.

Fast: Because of the use of modern, easy, and accurate algorithms such as the YSGA and the 2PC, our proposed system guarantees that the e-banking procedure will be performed in real-time.Safe and authentic: The proposed module is controlled by the SC conditions in which both the CR and the SR agree on and do not agree, the e-transaction procedure cannot be performed, and our proposed module can be considered safe and secure.

Additionally, because of the usage of the principle of isolation for each process alone in a separate segment, the danger that threatens a specific segment will remain bounded by that segment, and the other segments will work normally.Integrating: The final layer of our proposed module is the hashing and creating blocks for each procedure. Each block has complete information about the whole transaction process plus the number of previous blocks. This approach provided our proposed module with an advantage in terms of integrity.

Speed: Our proposed system is fast due to the speed of the algorithms used. Additionally, after the full analysis shown above, the time required to complete a full transaction is not more than 0.0056 nanoseconds, which is considered fast compared to other similar methods.

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