Preeti Jain

Assistant Professor, Department of AlI & DS, Datta Meghe College of Engineering, Sector 3, Airoli, Navi Mumbai - 400708 (MS)

Nitin Jain

Assistant Professor, Dept of CSE-loT, Lokmanya Tilak College of Engineering, Sector 4, Kopar Khairane, Navi Mumbai -400 709 (MS)

Yash Bhangale & Ninad Katti

Student, Department of AI & DS, Datta Meghe College of Engineering, Sector 3, Airoli, Navi Mumbai - 400708 (MS)

Abstract

The advent ofblockchain technology and cryptocurrencies has transformedthe landscape of online transactions, offering unparalleled security, transparency, and efficiency. With Ethereum's ERC20 token standard, decentralized finance (DeFi) platforms have becomе increasingly versatile, enabling extensive applications from e-commerce to streaming services. The work proposes "Cryptway", a novel blockchain-based platform that leverages these advancements to provide a decentralized solution for online transactions through innovative use of ERC20 tokens. Cryptway offers three primary services: Cryptway Faucet, Cryptway Swapping, and Cryptway Transaction Service. Through the Cryptway Faucet, users can purchase ERC20 tokens Cryptway Gold, Silver, and Bronze-each with varying values and benefits. These tokens can be stored in crypto wallets such as MetaMask and used across various services, with higher-value tokens offering premium features. Cryptway Swapping allows users to exchange tokens, providing flexibility in their holdings. The Cryptway Transaction Service facilitates token transfers between wallets with applicable gas fees. By integrating these services, Cryptway aims to escalate user experience and promote the adoption of decentralized finance in everyday digital transactions.

Keywords- Blockchain, Decentralized Finance (DeFi), ERC20 Tokens, Cryptway, Online Transactions, Token Swapping, Smart Contracts, Token Transfers