The implementation of blockchain technology in the financial accounting process for enhanced transparency and security. To link accounting and computer science, this study uses the computational approach. A comprehensive review of the pros and cons for existing financial accounting techniques compared to blockchain-based ones reveals research gaps and opportunities but does not bridge the gap entirely. Examples include decentralized ledger technology, smart contracts, and more. The proposed approach outlines a clear plan for the implementation of blockchain. Three significant performance measures, namely fault tolerance, transactions per unit of time, and energy per transaction, are the main focal points of the results and discussion. Through the comparison analysis, the proposed DLTCMAB approach appears to outperform traditional consensus protocols; it shows how these solutions enhance the sustainability, security, and efficiency of financial transactions.

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DLTCMAB-Distributed Ledger Technology Using Consensus Mechanism for Centralized Accountancy Using Blockchain

  • B. S. Srisivasubbramanyan,
  • P. Balapriya,
  • R. Jagadeesh Kannan,
  • E. P. Shashwath

摘要

The implementation of blockchain technology in the financial accounting process for enhanced transparency and security. To link accounting and computer science, this study uses the computational approach. A comprehensive review of the pros and cons for existing financial accounting techniques compared to blockchain-based ones reveals research gaps and opportunities but does not bridge the gap entirely. Examples include decentralized ledger technology, smart contracts, and more. The proposed approach outlines a clear plan for the implementation of blockchain. Three significant performance measures, namely fault tolerance, transactions per unit of time, and energy per transaction, are the main focal points of the results and discussion. Through the comparison analysis, the proposed DLTCMAB approach appears to outperform traditional consensus protocols; it shows how these solutions enhance the sustainability, security, and efficiency of financial transactions.