CreditCoin: A Privacy-Preserving Blockchain-Based Incentive Announcement Network for Communications of Smart Vehicles

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The main aim of this project is to develop an effective announcement network called CreditCoin, a new privacy-preserving incentive announcement network based on Blockchain.

Existing System:

In Existing Systems users usually lack enthusiasm to forward any messages in VANETs if there is a risk that their privacy will be breached. In addition, users do not benefit from forwarding announcements, which also makes them lack motivation to respond to messages. Ideally, all messages must be forwarded anonymously in VANETs since they usually contain sensitive information of users, such as vehicle numbers, driving preferences and customer identities. However, forwarding messages anonymously does not assure the reliability of the messages, and also suffer from heavy workload.

Proposed System:

In proposed system we propose a new technique called CreditCoin. It achieves efficiency and privacy-preserving for the practical usage in forwarding announcements. We design an incentive mechanism based on Blockchain in CreditCoin. Users manage reputation points while they earn or spend coins as incentives. Meanwhile, CreditCoin still preserves privacy and achieves anonymity. Moreover, based on Blockchain, CreditCoin prevents many security attacks and achieves conditional privacy because Trace manager will trace malicious nodes when an unexpected event occurs.