Decentralized E-Commerce Platform Implemented using Smart Contracts

Abstract

The internet has evolved a lot in the last 40 years and its early applications has become unrecognizable. Web 1.0 focused on serving static pages is considered as the read-only web, whereas web 2.0 made way for dynamic pages making it as read-write web, which is predominantly experienced. The main problem face here is, as the users of E-commerce applications, is single-point-of-failure (SPOF), which means, the data stored in centralized servers is highly susceptible and vulnerable to attacks. Now, the internet's next evolution enables to develop decentralized applications and adds few other features like trustlessness, distributed, transparent, robust, etc. This also makes web 3.0 as read-write-own web. Now, this evolution wave of decentralization has hit the applications. To overcome this problem, this study has proposed a solution to completely decentralize the E-Commerce platform by using Blockchain in conjunction with smart contracts and utilizes the decentralized storage like IPFS (Inter Planetary File System). This article has developed a system that uses ReactJs as the frontend and the Ethereum blockchain as the backend to execute smart contracts using the EVM (Ethereum Virtual Machine) and to store data in a decentralized way by using IPFS and BigChainDb.