Decentralized Bank Application

Using various forms of currency to buy or sell goods or services has long been a fundamental aspect of human society. with the first evidence in human history taking place in Mesopotamia approximately 5000 years ago. Since then the concept of transaction/currencies used to buy or sell goods and services has evolved over time. Fundamentally this concept of the transaction to use some sort of currency was done on the basis of trust and was overseen by some or the other central agencies. Even though in recent times technology has been developed for transparent and more secure transactions yet such transactions are some or the other way involved to trust many third-party entities to execute this transaction. This involvement of third-party entities in the transaction conceives trust issues for their transaction and the money involved. So to eliminate these issues of the existing traditional transaction system blockchain technology can be very useful. And as in the Traditional transaction system bank plays a very important role and gives the user benefits in the form of interest for depositing their money in their bank along with some security and storage for their assets. In the same way, the decentralized bank application will allow the users to deposit their ethers in the bank and would get a specific amount of ethers during their withdrawal of the ethers from the bank.