Fraud Detection in the Marketplace

Abstract

The advent of blockchain technology has revolutionized various industries by introducing decentralized systems with enhanced security and transparency. With the emergence of Web 3.0, blockchain-based marketplaces have gained prominence, facilitating peer-to-peer transactions and eliminating the need for intermediaries. However, these platforms are not immune to fraudulent activities, as malicious actors exploit vulnerabilities in the system. This chapter presents an overview of fraud detection mechanisms in marketplace blockchain Web 3.0. The primary focus is to explore the challenges associated with detecting and preventing fraud in decentralized marketplaces, as well as potential solutions leveraging blockchain technology.