University of Tehran

In this project, We are going to create a decentralized system to track debit and credit - a blockchain version of Splitwise. If you haven’t heard of the app, it’s a simple way to keep track of who owes who money within a group of people (maybe after splitting lunch, groceries, or bills). To illustrate the application, consider the following scenario:

Alice, Bob, and Carol are all friends who like to go out to eat together. Bob paid for lunch the last time he and Alice went out to eat, so Alice owes Bob $10. Similarly, Carol paid when she and Bob went out to eat, and so Bob owes Carol $10.

Now, imagine Carol runs short on cash and borrows $10 from Alice. Notice that at this point, instead of each person paying back their ‘loan’ at some point, they could just all agree that nobody owes anyone. In other words, whenever there is a cycle of debt, we can just remove it from our bookkeeping, making everything simpler and reducing the number of times cash needs to change hands.

We will build a decentralized way to track who owes what to who, so that no trusted third party has to be relied upon. So with this introduction, you may guess that, this process is going to be handled by a smart contract.

Programming Language: Solidity, Javascript

Course: Cryptocurrencies Course