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The mini project report titled 'Feeless Transaction Protocol' presents the NoFi protocol, which enables users to conduct fee-free transactions by using staking rewards to cover transaction costs. The project emphasizes the integration of blockchain technology to enhance user participation in decentralized finance while ensuring security and scalability. Future enhancements include multi-blockchain support and a mobile application for improved accessibility.

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3 views22 pages

APP Project

The mini project report titled 'Feeless Transaction Protocol' presents the NoFi protocol, which enables users to conduct fee-free transactions by using staking rewards to cover transaction costs. The project emphasizes the integration of blockchain technology to enhance user participation in decentralized finance while ensuring security and scalability. Future enhancements include multi-blockchain support and a mobile application for improved accessibility.

Uploaded by

skaftabshaik
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Feeless Transaction Protocol

MINI PROJECT REPORT

Submitted by

Shaik Aftab [RA2311028010030]


Under the Guidance of

Supervisor Name
Prof. Manickam M
21CSC203P – ADVANCED PROGRAMMING PRACTICE

DEPARTMENT OF COMPUTING TECHNOLOGIES

FACULTY OF ENGINEERING AND TECHNOLOGY

SCHOOL OF COMPUTING

SRM INSTITUTE OF SCIENCE AND TECHNOLOGY

KATTANKULATHUR

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NOVEMBER 2024

SRM INSTITUTION OF SCIENCE AND


TECHNOLOGY
(Under Section 3 of UGC Act, 1956)

BONAFIDE CERTIFICATE

Certified that the 21CSC203P Advance Programming Practice course


project report titled “Feeless transaction protocol” is the Bonafide work
done by Shaik Aftab [RA2311028010030] of II Year/III Sem
B.Tech(CSE-CC) who carried out the mini project under my supervision.

SIGNATURE SIGNATURE
Prof. Manickam M Dr. Niranjana G
Faculty In-Charge, Assistant Head of the Department,
Professor Professor and Head

Department of Computing
Department of Computing Technologies, SRM Institute of
Technologies, SRM Institute of Science and Technology
Science and Technology Kattankulathur
Kattankulathur

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ABSTRACT

The Java GUI-based Air Quality Index (AQI) Measuring Application is designed
to provide real-time air quality data and enhance user awareness of environmental
health conditions. This desktop application leverages Java's robust Swing or
JavaFX libraries to create an intuitive, user-friendly interface that displays AQI
readings, pollutant levels, and relevant health advisories. The system integrates
with reliable open APIs to fetch air quality data for specified locations and
employs algorithms to interpret pollutant concentrations into a standardized AQI
scale.

Users can input their location to view current AQI, historical data trends, and
receive customized alerts for high pollution levels. The application is equipped
with visualization tools such as charts and color-coded indicators to improve the
interpretability of data. By offering a seamless experience, it caters to individuals
concerned about air quality and health professionals who need quick access to
environmental metrics.

This project emphasizes practical implementation using Java's core programming


concepts, event-driven programming, and data parsing techniques. The
comprehensive approach ensures that users not only stay informed about air quality
but also become proactive in making health-conscious decisions.

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ACKNOWLEDGEMENT

We express our heartfelt thanks to our honourable Vice Chancellor


Dr. C. MUTHAMIZHCHELVAN, for being the beacon in all our
endeavours. We would like to express our warmth of gratitude to our
Registrar Dr. S Ponnusamy, for his encouragement.

We express our profound gratitude to our Dean (College of


Engineering and Technology) Dr. T. V. Gopal, for bringing
out novelty in all executions. We would like to express our heartfelt thanks
to Chairperson, School of Computing Dr. Revathi Venkataraman,
for imparting confidence in completing our course project.

We wish to express our sincere thanks to Course Audit Professors


Dr. Vadivu. G , Professor, Department of Data Science
and Business Systems and Dr. Sasikala. E Professor,
Department of Data Science and Business Systems and
Course Coordinators for their constant encouragement and support.

We are highly thankful to our Course project Faculty Prof. Manickam M,


Assistant Professor, Department of Computing
Technologies, for his assistance, timely suggestion and guidance
throughout the duration of this course project.

We extend our gratitude to our HOD Dr. Niranjana G,


Department of Computing Technologies, and our
Departmental colleagues for their Support.

Finally, we thank our parents and friends near and dear ones who directly and
indirectly contributed to the successful completion of our project. Above all, we
thank the almighty for showering his blessings on us to complete our Course
project.

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TABLE OF CONTENTS

Sr. No. Title Page No.

1. Introduction 6

2. Literature Survey 7

3. Requirement Analysis 8

4. Architecture and Design 9 - 10

5. Code 11 - 18

6. Output/Result 19

7. Future Scope 20

8. Conclusion 21

9. References 22

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INTRODUCTION

In the world of decentralized finance (DeFi), transaction fees


have become a significant barrier for many users, particularly
for smaller transactions where the cost of fees outweighs the
value of the transfer itself. NoFi is designed to address this issue
by allowing users to make fee-free transactions while
simultaneously providing a platform for passive income through
staking.
The NoFi protocol works by enabling users to lock their tokens
within the system, which are then connected to a staking
protocol. The yield generated from the staked tokens is used to
cover transaction fees, creating a mutually beneficial situation
for both the users and the protocol itself.
The application of this project lies in leveraging blockchain
technology to reduce the friction of transactions and incentivize
users to participate in the ecosystem through staking. By
integrating staking and transaction fee mechanisms, NoFi
creates a sustainable and scalable solution for decentralized
finance.

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LITERATURE SURVEY

Existing Blockchain Protocols and Transaction Fees

1. Staking Mechanisms in DeFi: Many DeFi protocols use staking to


incentivize users. Staking mechanisms reward participants with passive
income, but the transaction fees remain a significant hurdle. Solutions like
NoFi aim to eliminate this challenge by using staking rewards to cover
transaction costs.

2. Layer-2 Solutions: Various Layer-2 protocols, such as Optimism and


Arbitrum, aim to scale blockchain networks and reduce fees. However, these
solutions often require additional infrastructure and may not offer fee-free
transactions like NoFi.

3. Transaction Fee Models: Most blockchain networks, including Ethereum


and Bitcoin, charge fees based on transaction volume. NoFi's unique
approach of using staked tokens to cover fees offers an alternative to
traditional fee-based systems.

4. Fee-less Transactions in Blockchain: The concept of fee-less transactions


is being explored in other projects like Nano and IOTA, where the protocol
is designed to minimize or eliminate fees entirely, but NoFi's integration
with staking rewards adds a layer of sustainability that others lack.

5. Governance and Incentive Models: Governance plays a crucial role in


blockchain ecosystems. NoFi’s model of rewarding users who lock tokens
introduces an incentive-based system where users are motivated not only to
participate in staking but also in governance decisions.

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REQUIREMENT ANALYSIS

Functional Requirements

1. User Token Locking: Users should be able to lock a specified number of


tokens within the protocol to participate in the system.

2. Staking Mechanism: The application must enable users to connect their


locked tokens to a staking protocol and earn yield.

3. Transaction Fee Coverage: The yield generated from staking should be


automatically used to cover transaction fees, making transactions free for
users.

4. Transaction History and Alerts: Users should be able to view their


transaction history and receive alerts when transaction fees are covered by
staking rewards.

5. Security and Privacy: The system must ensure that user tokens are securely
locked and that transactions are safely executed.

Non-Functional Requirements

1. Scalability: The system should handle a large number of users and


transactions without compromising performance.

2. Performance: The protocol must quickly process staking rewards and


transaction fee payments to avoid delays in transactions.

3. Usability: The user interface should be intuitive, allowing easy token


locking and viewing of staking rewards.

4. Security: The system must be secure, ensuring that the tokens are locked and
that no unauthorized access occurs.

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x

ARCHITECTURE AND DESIGN

Overview

The NoFi protocol is built on a decentralized blockchain platform with clear


modular components:

1. User Interface (Front-end):

o The user interacts with the system through a simple web-based or


desktop interface.

o Allows users to lock tokens, monitor staking rewards, and view


transaction history.

2. Blockchain Layer (Back-end):

o The protocol uses smart contracts to handle the locking of tokens, the
staking mechanism, and transaction fee management.

o Blockchain technology ensures decentralization, transparency, and


security.

3. Staking and Yield Generation:

o Staked tokens generate rewards through a staking protocol, which are


used to cover transaction fees.

o The staking contract is designed to automatically allocate rewards for


transaction fee payments.

4. Transaction Layer:

o The transaction layer processes all user transactions and calculates the
fee (which is paid using staking rewards).

o The system ensures that the transaction fee is paid from the yield
generated by the staked tokens.

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5. Data Storage:

o The system stores transaction histories and staking details in a


decentralized storage system to maintain transparency and user trust.

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CODE
HTML

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CSS

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Solidity
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Java (JDBC)

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OUTPUT

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FUTURE SCOPE
1. Multi-Blockchain Support: Extend NoFi to support multiple blockchains,
allowing users to lock tokens from different blockchain networks.

2. Mobile Application: Develop a mobile app for easier access and interaction
with the protocol.

3. Enhanced Staking Features: Introduce additional staking options, such as


compound staking, where users can reinvest rewards into the staking pool.

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CONCLUSION

NoFi offers a novel approach to solving the problem of transaction fees in


blockchain ecosystems. By combining token locking, staking, and decentralized
finance principles, NoFi ensures fee-free transactions for users while generating
passive income through staking rewards. The project successfully demonstrates
how DeFi protocols can innovate on transaction models, making blockchain more
accessible and user-friendly.

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REFERENCES

1. "Decentralized Finance: The Emerging Economy of Blockchain" –


DeFi Research.

2. "Staking Mechanisms in Blockchain" – Blockchain Governance


Journal.

3. "Smart Contracts and the Blockchain" – Ethereum Foundation


Documentation.

4. "IOTA: A Fee-Less Blockchain" – IOTA Official Whitepaper.

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