Project On Online Banking System
Project On Online Banking System
Project Report
On
Submitted in partial fulfillment of the requirement for the award of the degree of
BACHELOR OF TECHNOLOGY
In
COMPUTER SCIENCE
By:
HIMANI (100210169)
DECLARATION
We declare that this project report titled “Web Based Crypto Wallet” submitted in partial fulfillment
of the degree of B. Tech. in Computer Science is a record of original work carried out by us under the
supervision of Er. Milind Singh, and has not formed the basis for the award of any other degree or
diploma, in this or any other Institution or University. In keeping with the ethical practice in reporting
scientific information, due acknowledgements have been made wherever the findings of others have
been cited.
<Signature> <Signature>
Shivam Kumar Himani
100210154 100210169
CS 7th Semester CS 7th Semester
<Signature>
Priyanshi Rai
100210143
CS 7th Semester
Place: Meerut
04 December 2024
ii
CERTIFICATE
This is to certify that the project report entitled “Online Banking System” submitted by Himani to the
Sir Chhotu Ram Institute of Engineering & Technology, Meerut in partial fulfillment for the award of
the degree of B. Tech in Computer Science is a bona fide record of project work carried out by
him/her under my/our supervision. The contents of this report, in full or in parts, have not been
submitted to any other Institution or University for the award of any degree or diploma.
<Signature> <Signature>
iii
ACKNOWLEDGEMENT
First and foremost, I bow my head in gratitude to the Almighty God for His countless blessings, and
strength that enabled me to successfully complete this project. His grace and mercy have been my
source of inspiration and perseverance throughout this journey.
I express my heartfelt gratitude to Prof. Sangeeta Shukla, Honorable Vice Chancellor of Chaudhary
Charan Singh University, for fostering an environment that encourages academic excellence and
innovation.
I am profoundly thankful to Prof. Sanjay Kumar Bhardwaj, Dean of Engineering & Technology, and Prof.
Niraj Singhal, Director of Sir Chhotu Ram Institute of Engineering & Technology, for their invaluable
support and for ensuring the smooth facilitation of resources and opportunities necessary for this work.
I extend my sincere appreciation to my supervisor, Er.Milind Singh, for their unwavering guidance,
insightful feedback, and encouragement, which have been the cornerstone of this project. Their
expertise and dedication have significantly enriched my learning experience.
I am deeply thankful to Dr. Gaurav Tyagi, Project Coordinator & Er. Milind, Coordinator of the
Department of Computer Science, for their continuous support and for providing me with the necessary
facilities and a conducive environment to carry out my work.
I also wish to acknowledge my peers and colleagues for their constructive discussions, moral support, and
teamwork, which have greatly contributed to the progress of this project.
Finally, I owe my deepest gratitude to my family and friends for their unconditional love, support, and
encouragement throughout this journey.
This project stands as a testament to the collective efforts, guidance, and blessings I have received, and I
am sincerely thankful to all who contributed to its success.
Shivam Kumar
1002101504
04 December 2024
iv
TABLE OF CONTENTS
DECLARATION ii
CERTIFICATE iii
ACKNOWLEDGEMENTS iv
LIST OF FIGURES vii
1. INTRODUCTION 2
1.1. Introduction of the Project 2
1.2. Objective & Scope of the Project 3
1.3. Problem Solved 4
2. LITERATURE REVIEW 5
3. PROPOSED SYSTEM 8
3.1. Existing System 8
3.2. Proposed system 8
3.3. System Workflow 9
3.4. Conclusion 9
4. SYSTEM ANALYSIS
4.1. Hardware & Software Requirements 8
4.2. Testing Technologies 9
4.3. Feasibility Report 11
4.4. Technology Used
5. OUTPUT SCREENSHOT
6. RESULT & CONCLUSION 10
6.1 Result 11
6.2 CONCLUSION 12
7. REFRENCES 15
v
CHAPTER – 1
INTRODUCTION
vi
Chapter 1 INTRODUCTION
Scope
• Wallet Creation: Allows users to securely create wallets with mnemonicbased
recovery options.
1
• Real-Time Data: Fetches real-time balances and transaction statuses via
blockchain APIs.
• Scalability: Built using Next.js, the wallet is optimized for fast performance
and can scale with future enhancements like staking, token swaps, and NFT
management.
• User Accessibility: Aims to simplify blockchain interaction for both novice and
advanced users through an intuitive interface.
• Multi-Blockchain Support: Supports both Ethereum and Solana ecosystems,
enabling users to manage multiple assets in one place.
CHAPTER - 2 LITERATURE
REVIEW
Chapter 2 LITERATURE REVIEW
3
solution for improving trust and authentication in IoT networks while
mitigating risks like data tampering and cyberattacks.
• Solana Labs (2020) → Solana Labs introduced the Solana blockchain,
emphasizing scalability and low transaction costs using a unique consensus
mechanism called Proof-of-History (PoH). This innovation addressed
blockchain's scalability problem by enabling thousands of transactions per
second.
• Johnson et al. (2021) → Johnson and colleagues analyzed the limitations of
existing blockchain interoperability. They suggested multi-chain solutions and
bridges to enable cross-chain communication, a critical step for the
blockchain ecosystem's growth.
• Kumar et al. (2023) → Kumar explored blockchain integration with modern
web technologies, focusing on building scalable, user-friendly interfaces for
blockchain-based applications. The study emphasized the role of frameworks
like Next.js in improving user experience while interacting with decentralized
systems.
2.2 Solana
• Solana Labs (2020) → Solana Labs officially launched the Solana blockchain, a
high-performance, layer-1 blockchain capable of processing 65,000
transactions per second with minimal fees. Solana combined PoH with Proof-
of-Stake (PoS) to achieve scalability without compromising security or
decentralization.
• Bonafide (2021) → Bonafide published research comparing Solana’s PoH
mechanism with traditional consensus algorithms like Proof-of-Work (PoW)
and Proof-of-Stake (PoS). The study concluded that PoH significantly reduces
transaction confirmation times, making Solana suitable for decentralized
finance (DeFi) and gaming applications.
• Johnson et al. (2021) → Johnson and colleagues analyzed Solana’s growing
ecosystem, focusing on its ability to attract developers through high
throughput and low transaction costs. They highlighted the challenges of
4
interoperability with other blockchains like Ethereum and proposed
crosschain bridges as a solution.
• Phantom Wallet (2021) → The release of the Phantom Wallet marked a
significant milestone in Solana’s ecosystem. Phantom provided users with a
non-custodial solution for managing Solana-based assets and interacting with
decentralized applications (dApps).
• Kowalski et al. (2022) → Kowalski explored the use of Solana in NFT
marketplaces, citing its low transaction fees and high-speed processing as key
advantages over Ethereum. The study noted that platforms like Magic Eden
on Solana had gained significant traction in the NFT community.
• Sharma et al. (2023) → Sharma evaluated Solana’s scalability for
enterpriselevel applications, identifying areas such as supply chain
management and real-time data streaming where Solana could outperform
other blockchains. The study also highlighted network outages as a limitation,
calling for infrastructure improvements.
• Kumar et al. (2024) → Kumar examined Solana’s role in advancing Web3
technologies, focusing on its integration with decentralized finance (DeFi)
protocols and cross-chain interoperability. The study emphasized the need for
multi-chain wallets to support Solana alongside other blockchains like
Ethereum.
2.3 Etherium
5
• Christidis and Devetsikiotis (2016) → Christidis and Devetsikiotis explored
the use of Ethereum for smart contracts in business automation. They
demonstrated its ability to remove intermediaries, enhance transparency, and
streamline processes like supply chain management and insurance claims.
• Zheng et al. (2017) → Zheng and colleagues highlighted Ethereum's
scalability challenges, particularly its reliance on Proof-of-Work (PoW). They
pointed out congestion issues during high-demand periods, such as the
CryptoKitties dApp craze, and emphasized the need for improvements in
consensus mechanisms.
• Buterin and Poon (2017) → Buterin and Joseph Poon introduced Plasma, a
layer-2 scaling solution for Ethereum. Plasma aimed to reduce congestion on
the main chain by processing transactions off-chain while maintaining
security through periodic commitments to the main blockchain.
• Ethereum 2.0 Roadmap (2019) → The Ethereum Foundation proposed
Ethereum 2.0, a multi-phase upgrade to transition from Proof-of-Work (PoW)
to Proof-of-Stake (PoS). This upgrade aimed to address scalability, security,
and energy efficiency issues.
• Beiko et al. (2021) → Tim Beiko and other developers implemented the EIP-
1559 upgrade, which introduced a new fee structure. This upgrade replaced
the traditional gas fee auction with a base fee mechanism, improving
transaction predictability and reducing Ether supply through fee burning.
• Sharma et al. (2022) → Sharma analyzed Ethereum’s dominance in the DeFi
(Decentralized Finance) ecosystem. The study attributed Ethereum’s success
to its robust developer community and compatibility with dApps, despite
challenges from emerging competitors like Solana and Avalanche.
• The Merge (2022) → Ethereum successfully transitioned to Proof-ofStake
through "The Merge," a historic upgrade that replaced PoW with PoS. This
reduced Ethereum’s energy consumption by over 99% and set the stage for
future scalability improvements.
• Kumar et al. (2024) → Kumar explored Ethereum’s advancements in multi-
chain interoperability and its integration with layer-2 solutions like Optimism
and Arbitrum. The study emphasized Ethereum’s pivotal role in the growth of
Web3 technologies and its ability to coexist with newer blockchains.
6
CHAPTER - 3 PROPOSED
SYSTEM
Chapter 3 PROPOSED SYSTEM
1. Multi-Blockchain Support
• The wallet supports Ethereum and Solana, enabling users to manage
assets on both blockchains from a single interface.
2. Wallet Creation and Management
• Users can create wallets for both blockchains using secure BIP-39
mnemonic phrases, ensuring easy account recovery.
• The wallet stores keys securely on the client side, maintaining a
noncustodial approach.
3. Real-Time Balance and Transaction Tracking
• The system integrates blockchain APIs to fetch real-time wallet
balances and transaction statuses.
4. User-Friendly Interface
• A responsive and intuitive interface is built using Next.js, simplifying
complex blockchain operations for users.
5. Secure Transactions
• The wallet allows users to send and receive assets on both Ethereum
and Solana securely, with transaction signing performed locally on
the user's device.
6. Scalable and Extensible Architecture
• Designed to accommodate future enhancements like support for
additional blockchains, staking features, and NFT management.
6
Workflow of the Proposed System
CHAPTER - 4
SYSTEM ANALYSIS
Chapter 4 SYSTEM ANALYSIS
The system analysis for the proposed web-based crypto wallet focuses on
understanding the requirements, identifying existing challenges, and detailing how
the system addresses these problems. It examines both the functional and
nonfunctional aspects of the system.
1. Existing Problems
2. Proposed Solution
The proposed system provides a unified, user-friendly, and secure wallet supporting
Ethereum and Solana blockchains. It simplifies wallet management while
maintaining a focus on decentralization and user control.
3. Functional Requirements
8
• Allow users to create and manage wallets for Ethereum and Solana.
• Generate secure BIP-39 mnemonics for wallet recovery.
• Enable real-time balance updates and transaction tracking.
• Facilitate asset transfers with secure, locally signed transactions.
• Provide an intuitive and responsive user interface for all operations.
4. Non-Functional Requirements
5. Feasibility Analysis
a. Technical Feasibility
• Tools like Next.js, ethers.js, and @solana/web3.js provide robust
frameworks for wallet creation, transaction handling, and blockchain
integration.
• The use of BIP-39 mnemonics ensures a secure and standardized recovery
process.
b. Operational Feasibility
• A beginner-friendly interface ensures accessibility for novice users, while
advanced features meet the needs of experienced users.
• Deployment using platforms like Vercel ensures ease of maintenance and
scalability.
9
c. Economic Feasibility
• As a web-based solution, the cost is primarily limited to development and
hosting, making it cost-effective compared to traditional app-based wallets.
6. SWOT Analysis
Strengths:
• Multi-chain support.
• High security with a non-custodial approach.
• Scalable and extensible architecture.
Weaknesses:
• Dependency on blockchain API reliability.
• Limited initial features compared to long-established wallets.
Opportunities:
• Expansion to other blockchains (e.g., Polygon, Avalanche).
• Addition of DeFi, staking, and NFT management features.
Threats:
• Competition from existing wallets like MetaMask and Phantom.
• Rapid changes in blockchain technology or standards.
Conclusion
The system analysis demonstrates that the proposed crypto wallet is technically
feasible, addresses existing challenges, and provides significant improvements in
multi-chain asset management. With its secure, scalable, and user-friendly design,
the system is well-positioned to cater to the needs of both novice and advanced
blockchain users.
10
11
CHAPTER - 6
Result
The implementation of the web-based crypto wallet successfully achieved the
following outcomes:
1. Multi-Blockchain Functionality:
• The wallet supports Ethereum and Solana, enabling seamless
management of assets across both blockchains.
• Real-time balance fetching and transaction history retrieval were
successfully implemented using ethers.js and @solana/web3.js.
2. Secure Wallet Creation:
• The system generates secure wallets using BIP-39 mnemonics,
ensuring account recoverability while maintaining a non-custodial
approach.
3. User-Friendly Interface:
• A responsive and intuitive interface, built with Next.js, simplifies
wallet operations for users, making blockchain technology more
accessible.
4. Real-Time Data and Transactions:
• Users can securely send and receive assets on both blockchains.
Transactions are signed locally, ensuring security and privacy.
5. Scalability:
• The system's modular architecture supports future enhancements, such as
adding support for other blockchains, NFT integration, and staking features.
Conclusion
21
• Flexibility: Multi-blockchain support and scalability make the wallet
futureproof for emerging technologies.
The project highlights the potential for improving blockchain adoption by addressing
user experience challenges and offering secure, accessible solutions. Future work
may include adding more blockchain integrations, advanced DeFi features, and
support for NFTs, ensuring the wallet remains competitive in the evolving Web3
space.
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CHAPTER-5
OUTPUT
23
CHAPTER-5
OUTPUT
SNAPSHOTS
Fig.4.1.
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Fig.4.2.
5.3 SECRET PHRASE
Fig.4.3.
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Fig.4.4.
5.4 CREATE WALLET
Fig.4.5.
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CHAPTER - 7
REFERENCES
Chapter 7 REFERENCES
23
These references provide the theoretical and technical foundation for the project,
enabling the design and implementation of a secure, scalable, and user-friendly
crypto wallet.
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