A New Blockchain Toolkit developed for Cryptocurrency Transactions

Graduates of Yerevan Polytechnic University have developed a Blockchain Toolkit, which can be used for monetary transactions using cryptocurrency.

Blockchain is a method of storing data or a digital register of transactions, contracts, which can be used for storing the data on loans, property rights, traffic offenses, etc. Its main advantage is that this registry is distributed among several hundreds and even thousands of computers around the world. Any user of this network can have free access to the current version of the registry, which makes it transparent to all participants.

A distinctive feature of the developed system is its high level of security, since all the participants receive information about all transactions through a special software. No one can cheat and change the amount of their electronic wallet through fraud.

The toolkit allows you to create your own network, based on Ethereum Network, connect to existing Ethereum and Ethereum Test networks, create smart contracts, and provides full support for Ethereum client functionality, including mining.

This technology can be used to pay for used electric power, establishing a direct connection between the producer and consumer of energy. Or, you can immediately pay for parking when you enter the parking   lot, and automatically get access to the parking area.

Using the toolkit, you can lock and unlock an account, view the list of accounts, send transactions, sign messages. It also allows you to get administrator information, view data catalogs, find out the Web3 client and network connection version.

The toolkit will allow to start and stop the Web server JSON RPC API based on Web Socket. It is also possible to check the balance of an account, provide for the Ethereum network sniffing, and synchronize the data.