Abstract: We propose a new Block-net approach where there is hierarchy of ledgers which gets represented finally as a network. Each transaction gets stored only in two places (purchaser and seller ledger) and then synced to network. The idea is to avoid mining and coming up with a better approach. The ledger itself is stored as a Merkle Tree.

Steps to run the code

-Make sure that you have Python 3 installed. -Install the following modules using the command pip3 install module_name:

1. XMLRPC
2. Json
3. Sys
4. Hashlib
5. Datetime
6. UUID
7. SQLite3 database
8. Pytest for unit testing

• We can display the transactions of 3 participants as of now on three different terminals and then query all on the fourth terminal.(We have 3 input files)

• First run the file sql_functions.py. This creates the database and inserts entries for participants balance.

The port numbers and IDs for authentication are passed as command line arguments. -Open one terminal and enter: python3 peer.py 8000 a abcdefgh lmnopqrs xyzhlmno -Open the second terminal and enter: python3 peer.py 8001 b abcdefgh lmnopqrs xyzhlmno -On the third terminal enter : python3 peer.py 8002 c abcdefgh lmnopqrs xyzhlmno -On the fourth terminal, to query all participants' transactions, enter : python3 query.py abcdefgh 8000 8001 8002

This gives a global list of all transactions of all participants on the fourth terminal We also see the changes reflected in the balance of the participants in the database.

For testing :

1. For peer_test.py Open a terminal and type : pytest -x peer_test.py

2. For query_test.py Open a terminal and type : pytest -x query_test.py

These give a message that the test cases have passed.