E-Commerce Based Secured Payment using Cryptocurrency

Abstract: The global e-commerce landscape has witnessed exponential growth, revolutionizing how goods and services are bought and sold. With this surge in online transactions comes the imperative need for robust, secure payment mechanisms. In recent years, cryptocurrencies have emerged as a disruptive force in the realm of digital payments, offering decentralized, secure, and transparent alternatives to traditional fiat currencies. This paper delves into the intricacies of integrating cryptocurrency-based secure payment systems into the e-commerce ecosystem. Cryptocurrencies, powered by blockchain technology, provide a decentralized ledger that records transactions across a distributed network of computers. This distributed nature ensures immutability and transparency, reducing the risk of fraud and unauthorized access to sensitive financial data. Moreover, cryptographic techniques employed in cryptocurrencies offer enhanced security, safeguarding transactions against cyber threats and identity theft. However, the adoption of cryptocurrency payments in e-commerce is not without challenges. One significant hurdle is the inherent volatility of cryptocurrency markets, which can pose risks for both merchants and consumers in pricing goods and services. Scalability issues further complicate the integration process, as the current infrastructure struggles to accommodate the growing demands of a global e-commerce ecosystem

Keywords: Bitcoin, Consumer Adoption, Cryptocurrency, Digital Divide, e-Commerce, e- Payment, Payment Gateway- Digital Signature.