Browsing by Author "SP17-BSE-076"

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    CUCoin: PaperFree Currency
    (Library Information Services, COMSATS University Islamabad, Lahore Campus, 2021) Muhammad Usman; SP17-BSE-076; Dr Atif Saeed; LHR TP 7154
    Transferring your hard-earned money in your bank account from different areas around the world is a hectic task. It requires approval from several payment processors. After approval when they let you to transfer your money in your bank account, they cut some percentage of amount in the name of taxes/fees. In the end, you just get 60% to 70% of the actual amount and the rest goes to these financial institutes. This is where digital currency comes in. Digital currency has all the intrinsic properties like physical currency, they allow instantaneous transactions that can be executed fearlessly for making payments across borders when connected to supported devices and networks. One variation of digital currency is Bitcoin. Bitcoin is a peer to peer cash flow system. It is decentralized i.e.; It doesn’t depend on any central authority or third party to execute transactions. It provides a solution to double spending problem by using a public ledger i.e. blockchain. Blockchain is a sequence of blocks that contains transactional data in the form of cryptographic hashes. These hashes are obtained after solving a cryptographic puzzle. For strengthening economy of Pakistan, digital revolution is compulsory. If PM has a vision of digitization of Pakistan, then having our own cryptocurrency is a step forward. In the light of above, we have proposed a solution of a cryptocurrency and its wallet where users can do transactions seamlessly and securely. As aforesaid, the proposed currency would be decentralized.