Realization of the Online Website Based on Blockchain

Research Article
Open access

Realization of the Online Website Based on Blockchain

Zhangniantong Zhong 1*
  • 1 Hong Kong Baptist University, Hong Kong, China    
  • *corresponding author 21251525@life.hkbu.edu.hk
Published on 26 December 2024 | https://doi.org/10.54254/2754-1169/2024.18806
AEMPS Vol.134
ISSN (Print): 2754-1169
ISSN (Online): 2754-1177
ISBN (Print): 978-1-83558-817-8
ISBN (Online): 978-1-83558-818-5

Abstract

Contemporarily, blockchain techniques have been developed rapidly. This study describes the development of a blockchain-based website designed to display cryptocurrency information securely and transparently. The site utilizes Ethereum and smart contracts to ensure data immutability and transaction transparency. The front end is developed using the React framework to enhance the user experience, and the back end uses Web3.js for real-time blockchain interaction. A detailed case study of the cryptocurrency demo evaluated the performance of the website and the practical application of blockchain technology. The findings demonstrate the effectiveness of blockchain in securely managing and displaying sensitive financial data. In addition, the study highlights blockchain's potential to revolutionize fintech infrastructure by improving security and transparency, which are essential for the dissemination of financial information. These results makes a significant contribution to the use of blockchain in web development, drawing a blueprint for future research directions with a focus on optimizing transaction processes and improving user accessibility. Overall, the study demonstrates the transformative potential of blockchain technology in digital transactions and sets the stage for future innovation in this rapidly evolving field.

Keywords:

Blockchain technology, cryptocurrency, web development, Ethereum, smart contracts

Zhong,Z. (2024). Realization of the Online Website Based on Blockchain. Advances in Economics, Management and Political Sciences,134,147-154.
Export citation

1. Introduction

Cryptocurrency is a revolutionary form of digital money that utilizes blockchain technology to enable secure and transparent transactions. Since the launch of Bitcoin in 2009, the cryptocurrency space has expanded rapidly, spawning thousands of different currencies and ushering in a new wave of fintech [1]. This decentralized monetary system not only challenges the authority of traditional banks and governments in currency issuance, but also triggers extensive research in the fields of economics, technology and law [2]. Scholars have explored how cryptocurrencies can improve transaction efficiency, reduce costs, and provide financial services on a global scale [3]. However, the high volatility and lack of regulation of cryptocurrencies has also raised concerns about their security and stability [4]. With the advancement of technology and the gradual improvement of policies, cryptocurrencies are increasingly becoming an indispensable part of the modern economic system, indicating the future development direction of the financial industry [5]. The rapid development of this sector has attracted high attention from investors and technology developers, and has prompted governments and international institutions to actively explore appropriate regulatory frameworks in order to realize its potential while controlling risks [6].

Recent advances in blockchain technology have greatly impacted various fields such as finance, healthcare, and supply chain management. Blockchain's inherent security features, such as decentralization and cryptographic hashing, make it ideal for secure transactions and data storage. Kshetri discusses how blockchain can enhance the security and integrity of data across different industries, with particular emphasis on its role in preventing fraud [7]. Similarly, Lin and Liaoexplore the potential of blockchain for cybersecurity, highlighting its ability to defend against common security threats such as data breaches [8]. Blockchain transparency is critical for applications that require a traceable audit trail. Christidis and Devetsikiotis examine how blockchain technology can revolutionize supply chain management by providing real-time, immutable records that improve traceability and transparency [9]. This is supported by Kamath, who demonstrated the use of blockchain in the pharmaceutical industry to combat counterfeit drugs [10]. Blockchain technology is also expected to streamline operations and reduce costs through smart contracts and automated processes. Others examined the efficiency of blockchain smart contracts in automating business processes, while Pilkington assessed how blockchain could disrupt traditional business models by providing a faster and cheaper alternative to transactions [11, 12].

The transformative potential of blockchain technology to improve the security, traceability and efficiency of digital transactions requires the development of practical applications to take advantage of these advantages. This study aims to design and implement a blockchain-based website to showcase cryptocurrencies and ensure secure and transparent interactions. Systematically develop a research framework, starting with a comprehensive introduction to blockchain technology, followed by a detailed literature review to lay the theoretical foundation. It then describes methods for developing websites using blockchain, which in turn leads to the practical implementation of thorough documentation and analysis of websites. Subsequent sections will discuss the results, focusing on the site's performance and user interface, as well as specific case studies on cryptocurrency representations to evaluate the practical application of blockchain in real-world scenarios. The study summarizes the findings and potential directions for future research, highlighting the successes of the project and areas for improvement.

2. Methodology

This research develops a blockchain-based website designed to display cryptocurrency information securely and transparently. The site utilizes the Ethereum platform and smart contracts to ensure the immutability and transparency of data processing and transactions. The front end is built using the React framework to provide an intuitive user interface, while the back end interacts with the blockchain via Web3.js to facilitate real-time data processing and updates. Throughout the implementation, the focus is on enhancing the user experience and security. The encrypted and decentralized nature of blockchain greatly improves the security and operational efficiency of websites. The project not only demonstrates the practical application of blockchain in web development, but also provides valuable insights for future research and development of related technologies.

The Pet Store Platform is an innovative web application tailored for buying and selling pets online that combines a user-friendly interface, advanced security measures and interactive elements to simplify the shopping experience for pet lovers. The platform stands out by ensuring a smooth, efficient and safe environment where users can easily find the pets they want through a well-organized digital storefront. Starting with the user interface, the Pet-Shop platform is designed to cater to a wide range of users, from tech-savvy individuals to those unfamiliar with online shopping. The home page has quick links to featured pets, promotional offers and care tips that instantly attract visitors, making the platform both rich and easy to navigate. Search and filtering tools are a key feature of the platform, allowing users to search by pet type, breed, age and other criteria, ensuring that potential pet owners can quickly find a pet that matches their specific preferences. Each pet listed on the platform has its own detailed information page. These pages include high-quality images, comprehensive descriptions, health status and pricing information. This level of detail helps ensure transparency and helps buyers make informed decisions. In addition, the shopping cart function has been seamlessly integrated, so users can view their selected pets, adjust order details, and check out easily.

Account management is another important aspect of the Pet-Shop platform. Users can easily sign up and log in, including social media integration options that simplify the registration process by using existing online profiles. After signing up, users can access their profile to set preferences, track past transactions and manage their interactions with the platform. Notifications keep users informed about their purchases, changes in pet availability, and upcoming promotions, resulting in increased engagement and satisfaction. In terms of data management, the platform utilizes a structured database to store detailed information about pets. The database includes key data fields such as descriptions, photos, health information and pricing, all of which are key to keeping the service current and responsive. Transaction logs are securely logged, providing a reliable audit trail for users and platform administrators. Content management features allow administrators to add, modify, and delete pet profiles and other website content, ensuring the platform stays current and accurate.

Security is Paramount, especially when dealing with personal and payment information, and the Pet-Shop platform uses modern encryption standards to protect sensitive data and integrates with reputable payment processors to securely process transactions. Strong authentication and role-based access control systems protect user data and manage functions. The integration of blockchain technology sets the pet store platform apart, offering greater security and transparency. Smart contracts are used to manage the sale and transfer of pet ownership securely and transparently. Every transaction is verified and recorded on the blockchain to prevent fraud and ensure authenticity. Sensitive information and images are stored using decentralized storage solutions that help prevent data breaches and improve overall security. Interactive features are designed to increase user engagement. The platform allows users to rate and comment on their purchases, providing valuable feedback to other potential buyers and creating a community atmosphere. Live chat support helps users navigate the platform or learn more about their pets. Provide users with additional value and enhance their overall experience by regularly updating educational content on pet care, training and health through integrated blogs. To ensure scalability and performance, the platform uses multi-server load balancing technology to effectively distribute network traffic and ensure reliability and availability during peak hours. The implementation of the caching mechanism reduces the load on the database and speeds up content delivery. The responsive design ensures that the platform can be accessed on a variety of devices, such as smartphones, tablets, and desktop computers, thus meeting the device preferences of all users.

Creating a website based on a "Pet Shop" project on GitHub requires a comprehensive process that starts with planning. The initial phase focuses on determining the site's target and audience, which is essential to designing a user-centric website with intuitive navigation and a secure payment system. Once the goal is clear, the next step is to set up a native development environment using tools such as Node.js, npm, and Truffle, which are essential for Ethernet-based applications. The development phase consists of several key components. Generate Solidity smart contracts to manage the business logic of pet trading. Fully develop and test these contracts to ensure they work as expected. Prepare migration scripts to deploy these contracts to Ethernet. In addition, the front-end is developed using HTML, CSS, and JavaScript to ensure its responsiveness and interactivity. The front end is designed to interact seamlessly with smart contracts via Web3.js, a library that facilitates communication with the ether blockchain. Testing is a critical stage where every element, from smart contracts to front-end integration, is carefully examined. This includes contractual unit testing, integration testing to ensure that components work well together, and user acceptance testing to confirm that the site meets expected standards and functionality. After successful testing, the site is ready for deployment. This involves deploying the smart contract to the primary Ethernet or test network and then setting up the front end on the appropriate web hosting service. Once deployed, the website needs to be regularly monitored and updated based on user feedback and technological advances. This maintenance ensures the security, functionality, and user friendliness of the platform.

3. Results and Discussion

3.1. Website Result

The "Jun Dog Mall" website is an e-commerce platform specializing in the sale of dogs. The interface of the site is designed to be simple and user-friendly, allowing potential pet owners to effortlessly navigate the various dog breeds and facilitate their purchasing decisions. At the top of the home page is prominently displayed an enticing promotional message: "Sale: Buy first dog, get second dog free". This marketing strategy is designed to attract customers interested in buying multiple pets, providing a cost-effective solution for families looking to increase their pet population. The home page features six dog profiles, each with a photo and key details including breed, age and location. For example, Freda, a 3-year-old Scottish terrier, lives in Licia, Alabama, and Collins, a 2-year-old French bulldog, lives in Freeborn, Idaho. Below each profile is a "Buy" button that gives users a way to buy directly.

In addition, the site includes buttons for useful functions such as "reset" and "Request a refund." "These selections show that Jun's Doge Mall is not only committed to facilitating initial sales, but also to providing after-sales support to customers." The addition of these features underscores the platform's commitment to customer satisfaction and service reliability. As shown in Fig. 1, Jun's Doge Emporium provides an attractive and functional place for dog lovers to find and buy their ideal pet. The platform combines a clear layout, intuitive navigation and supportive customer service features to ensure a pleasant shopping experience for all users, while also focusing on transaction security and customer care.

/word/media/image1.png

Figure 1: Designed website illustration pages (Photo/Picture credit: Original).

3.2. Function Showcase

The "Buy" button on Jun's Doge Emporium is a key element designed to facilitate secure and transparent transactions within the blockchain framework. When the user decides to buy Doge and clicks the buy button, MetaMask prompts them to confirm the transaction with 1 ETH. This integration is essential to ensure that every transaction is securely executed and permanently recorded on the Ethereum blockchain, providing a high level of security and transparency. The process is fast and streamlined, allowing for instant feedback and confirmation of transactions, thereby increasing user confidence in the platform. In addition, this setup provides a permanent, immutable record of ownership, which is crucial in a fragmented market. The efficiency and security offered by the buy button make it an indispensable tool for conducting transactions, ensuring that users feel safe in their transactions and fostering trust in the operational integrity of the platform.

Once the transaction is completed, the "Buy" button will be converted to "Purchased (no longer available)," a key feature of Jun's Doge Emporium to maintain transaction integrity and user experience. This change prevents any possibility of duplicate purchases, which is crucial in a system where each item is unique and ownership is verified by a blockchain record. Instant feedback on button status updates provides users with clear, intuitive confirmation that the transaction has been successfully completed and that Doge now belongs to them. By ensuring that all users have up-to-date information on the availability of each Doge, this feature helps maintain a transparent and trusted marketplace. In addition, the feature can help users better manage their purchases, enabling them to track their transactions without confusion or errors. This clarity and operational transparency are critical to building and maintaining trust among users, which can greatly improve customer satisfaction and platform reliability.

The Reset button is designed for Jun's Doge store owners and plays a crucial role in the effective management of the platform. This feature allows the store owner to clear all transaction records, facilitating necessary maintenance or updating of the system without jeopardizing the user's funds. The ability to reset transaction data is critical to resolving any potential issues, implementing upgrades, or modifying operational parameters, helping to maintain the functionality of the platform and the trust of users. Activating this button allows for a restart, ensuring that the platform can adapt to new requirements or recover from mistakes, while protecting the user's investment. This level of management control is essential to maintaining a secure and flexible trading environment, ensuring that the platform is always responsive to technical needs and user expectations. The reset button underscores the platform's commitment to operational excellence and user safety, providing a safety net and enhancing overall confidence in the stability and integrity of the system.

The refund request button is another important feature of Jun's Doge Mall, which provides a direct mechanism to recover funds after a reset, thus increasing the reliability and user trust of the platform. This feature is especially important in decentralized systems, where changes and updates to the system may result in funding adjustments. By allowing users to effortlessly withdraw their invested ETH, the platform assures users that their funds are safe and manageable under any circumstances. This safety net is critical not only to user satisfaction, but also to maintaining the integrity and trustworthiness of the platform. It ensures that financial risks associated with digital transactions are minimized and enhances user confidence in the platform's commitment to fair and transparent transactions. The Claim Refund button helps create a trustworthy environment and encourages more users to engage with the platform knowing that their investment will not be affected by unexpected changes. This creates a solid foundation for trust and reliability, which is essential for the growth and sustainability of any digital market.

3.3. Virtual Currency

Creating a new currency for a shopping platform on the Ethereum blockchain involves several key steps, starting with the design and deployment of an ERC-20-compliant token. As shown in Fig. 2, this process involves writing smart contracts in Solidity, a programming language specifically designed for ether. A smart contract defines the basic properties of a token, such as name, symbol, and total supply. Once a smart contract is written, it is deployed into the Ethernet network and resides at a unique address that interacts with other contracts and addresses.

/word/media/image2.png

Figure 2: Transaction processes (Photo/Picture credit: Original).

After deploying the tokens, the next step is to integrate them with MetaMask, a widely used Ethereum wallet that runs as a browser extension, as shown in Fig. 3. This integration allows users to interact directly with the Ethereum blockchain through a web browser, facilitating transactions with newly created tokens on the shopping platform. MetaMask handles authentication and transaction signing, providing a secure and user-friendly interface for managing digital assets. Using tokens on a shopping platform requires adapting the platform's infrastructure to accept the new currency. This includes updating the pricing model to reflect the value of the tokens, as well as modifying the checkout process to include the option to pay with tokens. In addition, back-end systems must be configured to process transactions on the ether blockchain, ensuring that payments are securely verified and recorded. These improvements not only expand payment options for users, but also take advantage of the benefits of blockchain technology, such as increased transaction security, reduced risk of fraud and increased transparency. By accepting blockchain-based currencies, the platform could attract a tech-savvy crowd that values innovation and privacy in online transactions. This strategic move could make the shopping platform stand out in a highly competitive market and attract customers who are looking for new, technologically advanced ways to shop online.

/word/media/image3.png

Figure 3: Integral them with MetaMask (Photo/Picture credit: Original).

3.4. Security Analysis

Smart contracts are the backbone of blockchain applications, so their security is critical. Before any smart contract is deployed, a thorough code audit must be conducted to identify potential vulnerabilities. Extensive testing, including unit and integration testing, must also be carried out to ensure that the contract performs as expected under all conditions. Contracts should also be designed to prevent reentry attacks and limit access to sensitive operations, such as token minting and burning, to reduce security risks. It is vital to ensure that only legitimate users can securely access and operate their accounts. Wallets like MetaMask provide a secure user authentication layer to ensure that only the wallet owner can initiate a transaction. In addition, for critical operations such as large transactions or account Settings changes, platforms should require multi-factor authentication. Precise control of user access is essential to prevent unauthorized access. Transaction security is the key to maintain user trust and platform stability. The platform should ensure that all transactions are fully confirmed on the network to minimize the risks associated with blockchain forks. All user data and transaction information should be protected using an encrypted protocol such as HTTPS to prevent data theft or tampering. Real-time monitoring systems should also be deployed to detect and respond to unusual transaction behavior and identify potential security threats.

Protecting user privacy and data security is both a legal and ethical requirement. Sensitive data, including personal information and transaction details, should be encrypted. The platform should have a clear and transparent privacy policy that Outlines how user data is collected, used, and protected. Compliance with data protection regulations, such as GDPR, is essential to increase users' trust in the platform. In the face of security threats, it is essential to respond quickly and effectively. Platforms should develop and test incident response plans to act quickly in the event of a security breach. Backing up critical data regularly and ensuring that data can be quickly recovered from backups is an important strategy to minimize potential losses and quickly restore operations.

3.5. Outlook

This study successfully demonstrates the practical application of blockchain technology in developing online websites, especially in the secure and transparent display of cryptocurrency information. Future research can delve into the areas of technology iteration and optimization, application scenario expansion, cross-chain technology exploration, regulatory and compliance research, enhanced user experience and community building, sustainability and environmental impact. As blockchain technology advances and matures, these explorations are expected to drive blockchain adoption in the global economy, fostering innovation and transformation across industries, while addressing challenges related to regulatory compliance, user experience, and environmental sustainability.

4. Conclusion

To sum up, this study designs and implements a blockchain-based website that uses the Ethereum platform and smart contracts to display cryptocurrency information securely and transparently. The front end is built using the React framework to provide an intuitive user interface, and the back end uses Web3.js to interact with the blockchain for real-time data processing and updates. In addition, the study includes a specific case study on cryptocurrency representation to verify the effectiveness and utility of blockchain technology in real-world applications. Future research could explore how to further optimize blockchain infrastructure to support more user access and improve the efficiency and security of transaction processing. This study provides empirical evidence for understanding the application of blockchain technology in modern economic systems, demonstrating its potential to improve transaction security and efficiency.


References

[1]. Antonopoulos, A.M. (2014) Mastering Bitcoin: Unlocking Digital Cryptocurrencies. Sebastopol, CA: O'Reilly Media.

[2]. Böhme, R., Christin, N., Edelman, B. and Moore, T. (2015) Bitcoin: Economics, technology, and governance. Journal of Economic Perspectives, 29(2), 213-238.

[3]. Buterin, V. (2014) Ethereum White Paper: A Next-Generation Smart Contract and Decentralized Application Platform. Retrieved from https://ethereum.org/en/whitepaper/

[4]. Catalini, C. and Gans, J.S. (2016) Some simple economics of the blockchain. MIT Sloan Research Paper No. 5191-16. Cambridge, MA: Massachusetts Institute of Technology.

[5]. Nakamoto, S. (2008) Bitcoin: A Peer-to-Peer Electronic Cash System. Retrieved from https://bitcoin.org/bitcoin.pdf

[6]. Vigna, P. and Casey, M.J. (2015) The Age of Cryptocurrency: How Bitcoin and Digital Money are Challenging the Global Economic Order. New York, NY: St. Martin's Press.

[7]. Christidis, K. and Devetsikiotis, M. (2016) Blockchains and Smart Contracts for the Internet of Things. IEEE Access, 4, 2292-2303.

[8]. Kamath, R. (2018) Blockchain's roles in meeting key supply chain management objectives. International Journal of Information Management, 39, 80-89.

[9]. Kshetri, N. (2017) Can blockchain strengthen the internet of things? IT Professional, 19(4), 68-72.

[10]. Lin, I.C. and Liao, T.C. (2017) A survey of blockchain security issues and challenges. International Journal of Network Security, 19(5), 653-659.

[11]. Pilkington, M. (2016) Blockchain technology: Principles and applications. In F. Xavier Olleros & Majlinda Zhegu (Eds.), Research Handbook on Digital Transformations (pp. 225-253). Edward Elgar Publishing.

[12]. Wüst, K. and Gervais, A. (2017) Do you need a blockchain? Crypto Valley Conference on Blockchain Technology (CVCBT), 45-54.


Cite this article

Zhong,Z. (2024). Realization of the Online Website Based on Blockchain. Advances in Economics, Management and Political Sciences,134,147-154.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

Disclaimer/Publisher's Note

The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of EWA Publishing and/or the editor(s). EWA Publishing and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.

About volume

Volume title: Proceedings of the 3rd International Conference on Financial Technology and Business Analysis

ISBN:978-1-83558-817-8(Print) / 978-1-83558-818-5(Online)
Editor:Ursula Faura-Martínez
Conference website: https://2024.icftba.org/
Conference date: 4 December 2024
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.134
ISSN:2754-1169(Print) / 2754-1177(Online)

© 2024 by the author(s). Licensee EWA Publishing, Oxford, UK. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open access policy for details).

References

[1]. Antonopoulos, A.M. (2014) Mastering Bitcoin: Unlocking Digital Cryptocurrencies. Sebastopol, CA: O'Reilly Media.

[2]. Böhme, R., Christin, N., Edelman, B. and Moore, T. (2015) Bitcoin: Economics, technology, and governance. Journal of Economic Perspectives, 29(2), 213-238.

[3]. Buterin, V. (2014) Ethereum White Paper: A Next-Generation Smart Contract and Decentralized Application Platform. Retrieved from https://ethereum.org/en/whitepaper/

[4]. Catalini, C. and Gans, J.S. (2016) Some simple economics of the blockchain. MIT Sloan Research Paper No. 5191-16. Cambridge, MA: Massachusetts Institute of Technology.

[5]. Nakamoto, S. (2008) Bitcoin: A Peer-to-Peer Electronic Cash System. Retrieved from https://bitcoin.org/bitcoin.pdf

[6]. Vigna, P. and Casey, M.J. (2015) The Age of Cryptocurrency: How Bitcoin and Digital Money are Challenging the Global Economic Order. New York, NY: St. Martin's Press.

[7]. Christidis, K. and Devetsikiotis, M. (2016) Blockchains and Smart Contracts for the Internet of Things. IEEE Access, 4, 2292-2303.

[8]. Kamath, R. (2018) Blockchain's roles in meeting key supply chain management objectives. International Journal of Information Management, 39, 80-89.

[9]. Kshetri, N. (2017) Can blockchain strengthen the internet of things? IT Professional, 19(4), 68-72.

[10]. Lin, I.C. and Liao, T.C. (2017) A survey of blockchain security issues and challenges. International Journal of Network Security, 19(5), 653-659.

[11]. Pilkington, M. (2016) Blockchain technology: Principles and applications. In F. Xavier Olleros & Majlinda Zhegu (Eds.), Research Handbook on Digital Transformations (pp. 225-253). Edward Elgar Publishing.

[12]. Wüst, K. and Gervais, A. (2017) Do you need a blockchain? Crypto Valley Conference on Blockchain Technology (CVCBT), 45-54.