Security and Privacy Issues of Blockchain Technology (original) (raw)

Blockchain Technology : A Tool to Secure Data

International Journal of Scientific Research in Computer Science, Engineering and Information Technology, 2021

Data security is the key to the development of modern Internet technology. The distributed, decentralized, and secured hashed mechanism of the blockchain gives a complete new point of view for the evolution of data security technology. Block chain technology is one of the major technological innovations of this century. In the last couple of years, the interest around blockchain technologies is increasing. Many implementation of blockchain technology are widely available today. Blockchain,the foundation of Bitcoin, has gain much attention in this era. Blockchain is an encrypted, immutable, distributed ledger, which allows transactions take place in a decentralized manner. Blockchain based applications expected to alter numerous fields including financial services, health care, entertainment media, Internet of Things (IoT), and many more. The Blockchain technology plays important role in the process of data security. In this paper, we will discuss about the research being done on this new domain of Computer Science. It is not only the most popular topic to discuss about, but is the most technological innovation, that is all set to reform the entire world.

An Analysis of Blockchain Technology A Security and Privacy Perspective

An Analysis of Blockchain Technology A Security and Privacy Perspective, 2022

A distributed ledger technology that took over the world in recent days is Blockchain technology. It is simply a list that grows continuously holding the records of the transactions and data records securely in the form of blocks. It is also referred to as technology similar to linked lists where blocks are interlinked to each other [20]. A header block and the body block are the two main components of each block in the blockchain [41]. Usually, the header block holds the information about the management information of the block and the chain. The nodes of the blockchain communicate directly with each other through a peer-to-peer network. Every node consists of its digital signature [30] to validate the transactions. Blockchain technology brings the features like transparency, decentralisation, anonymity, and audibility. These features have gained the interest of both researchers and industries. Nowadays blockchains are extensively used in the fields of finance, medicine, agriculture, transportation, and Internet of Things [25] [38]. But we need to consider the security and privacy-related challenges in order to effectively use this new technology. Today most of the researches are going on the security and the privacy issues of the blockchain. The researches mainly focus on two concepts, analyzing the attacks which have been suffered by the blockchain recently and proposing some of the countermeasures against the type of attack. However, there are very little researches that provide an in-depth analysis of these issues The focus of this chapter is on examining current trends in blockchain security and privacy problems. The chapter is laid out in a fairly orderly fashion. The first portion of the chapter covers the fundamentals of blockchain technology, including the various types of blockchains, blockchain architecture, and consensus methods. The most recent and likely cyberattacks and issues on blockchains are described in the next section. The solutions section lists some of the legitimate current countermeasures to the attacks presented. Finally, the article highlights the unresolved concerns that will need to be handled effectively in the future.

Privacy Protection Issues in Blockchain Technology

IJCSIS Vol 17 No 2, 2019

Blockchain is an innovative application model that integrates consensus mechanisms, distributed data storage, point-to-point transmission, digital encryption technology and many other computer technologies. It has the characteristics of being decentralized, safe, reliable, open and transparent. In blockchain, digital encryption technology occupies the core position. The security of user information and transaction data is the necessary condition for the popularization of blockchain, and the development of cryptography technology promotes and restricts the further development of blockchain. This article describes the whole infrastructure of the blockchain with its different layers such as data, network, consensus, contract and finally application. Taking the bitcoin running process as an example, this paper analyzes the problems that the blockchain still has in the aspect of privacy protection, and introduces the existing solutions to these problems, including the mixed coin mechanism, 0 knowledge certificate, Ring signature and other technologies, expounds the outstanding problems and makes a prospect.

A survey paper on blockchain and its implementation to reduce security risks in various domains

Lahore Garrison University research journal of computer science and information technology, 2022

Every technology with its powerful uses has issues connected to it, and security is at the top. As for the changing environment, the world has been shifting to Virtual Reality; the new coming world seems to be the internet and blockchain technology which is more powerful than others and has its applications in every field, be it quantum computing, internet of things, security or others. This survey paper covers blockchain and its security in different sciences and technology fields. We begin with the introduction of blockchain and then discuss its structure. After that, security issues have been highlighted, including attacks and their behavior in quantum computing, internet of things, and cloud computing. Furthermore, we have discussed the most common types of attacks and the SRM model of blockchain, followed by the conclusion.

Blockchain Technology: A Review on Architecture, Security Issues and Challenges

International Journal of Engineering Applied Sciences and Technology

Data is one of the most significant resources. In this digital era, cyber security has become the worldwide issue. Since cyber criminals are getting progressively skilful in their attempts to destroy the valuable data, securing this data has become mandatory. Different procedures have been developed in the past to secure the data, but there are no bounds to security threats, resulting in theft of information from the devices. Currently Blockchain technology is the best tool to secure the data. Blockchain, originally known as Bitcoin, has become very popular technology to digitally create and manage transactions. It is a form of distributed public ledger which analyses and verifies transactions in decentralized manner and data is not under the control of any third party organization. This rapidly evolving technology can possibly change the opinion about digital transactions in various areas such as energy supply, peer-to-peer global payments, financial transactions, agriculture and industry. Regardless, this rising innovation is still in its beginning period of progression. Inspite of several opportunities offered by blockchain, it has limitations such as transaction cost, scalability, consistency security and administration issues which has not yet been addressed and investigated. In spite of the fact that there are a couple of studies on the security and privacy issues of the blockchain, they do not have an efficient assessment of the securing blockchain architectures. This paper presents a detailed architecture of blockchain technology along with systematic study of the security attacks rising in blockchain technology.

Algorithms And Security Concern In Blockchain Technology: A Brief Review

SSRN Electronic Journal, 2018

The Blockchain is an ingenious and remarkable invention. This technology created the backbone of a new type of internet. It was originally designed for the digital currency, Bitcoin, in which you can send digital money to anyone, even a stranger. Originally, it transmits bitcoin. It is considered a revolutionary technology. Blockchain helps in creating the record whose authenticity can be verified by the entire community. To make centralized and distributed systems it stores the data over a network of computers, which anyone can use this system, no central organization or person owns a system. It contains a number of blocks that contain data. The database of Blockchain is not stored at a single location, it is an open-source database which can be accessed by anyone and it is easily verifiable. No one owns the blockchain technology. As the blockchain’s nature is distributed, there must be a simple way by which all the nodes reach an agreement; Consensus agreement is a way by which all the participants agree on the contents of the blockchain. Here we will tell you about the basic principles and characteristics of the Consensus Algorithms so that you can decide which of the algorithm the best one to work with is. In this paper, we will research on the number of technical aspects of Blockchain technology, the pace in which this technology is booming and most importantly its implementation on the Bitcoin cryptocurrency which has totally revolutionized the financial infrastructure of the World. Along with this, we will also consider a number of security concerns, challenges and other technical vulnerabilities associated with the Bitcoin technology. The decentralized mechanism, distributed mechanism, scripted mechanism and the mechanism of the password related to Blockchain has opened a new view on the rapidly developing internet technology. There is no need for participants or any third party who are needed to be known to each other. The responsibility is included in the recording, transmission and the activities regarding transferring the storage by distributed technology. That is how the assurance is guaranteed by keeping these aloof from tampering and forged. With the assistance of asymmetric cryptographic algorithm, each and every participant can reach towards consensus on the information of the blockchain. The blockchain technology has the potential to play a key role in the case for information security technology. Hence, in this paper we will also cover the impact of the blockchain will ensure the expansion in the sphere of information security

The Most Secured Technology: Blockchain and Its application in Various Sectors

International Journal of Computer Trends and Technology, 2019

Blockchain is the most amazing technology for upcoming inflictions in computing. It is a decentralized, digitized, creative and innovative invention of the present world by an individual or a group work under the pseudonym, Satoshi Nakamoto in 2008. Distributed ledger of records is immutable and verifiable in Blockchain that's why it is impossible to manipulate any data in existing blocks. Although the most common assumption of blockchain is cryptocurrency, there are explorations in different other sectors. This paper analysis the scope of reviewing the blockchain technology which will introduce the latest research field of its applications. However, it will also highlight the opportunities as well as the challenges in front of the recent technology which is developing our digital world.

Blockchain Technology For Security And Privacy Issues In Internet Of Things

International Journal of Scientific & Technology Research, 2020

Blockchain technology is a secure way of holding the record of data. It support distributed public ledger. Blockchain support data storage, real estate, asset manager other financial transaction. If we are talking about Blockchain in India Telangana is first state of India which support this technology for huge incubator and a world class facility for promoting research. This paper presents the use of blockchain technology in internet of technology in terms of security and privacy.

A Study of Blockchain Technology In Internet of Things

In the modern world data are exchanged and transformed without any protection in the digital world. Nowadays, more businesses are committed through online system. The digitization of data can be carried through the centralization and decentralization process with higher protection. All the data can be stored through blocks with transaction history as BlockChain. In a BlockChain the transaction can be simplified with peer-peer network that excludes the involvement of third party. As a new way of communication technology through sensors and actuation object, IoT has been taken its tremendous way of exchanging the information. Security and Privacy policies are to be maintained in their operational feature. The trusted party can be integrated with a chain of link for accessing the information. With the advent of security for high speed networks, smart homes, smart healthcare, the IoT has gained wide acceptance and popularity as the main standard. IoT deployment contains heterogeneous devices with embedded sensors interconnected through network. In this paper, a survey of IoT with Blockchain technology can be implemented for decentralization with high transparency. The security issues are categorized as low-level and high-level for decentralized data. Blockchain technology has been foreseen by research community and plays a major role in controlling and securing IoT devices. Blockchain technology can be worked out for permissible and non-permissible key users. The centralized users can use public Blockchain. The important underlying technology is bitcoin and as a survey in this paper, how the performance feature of Blockchain technology can be worked out for Bitcoin can be discussed. The IoT security and challenges may provide proper solution for the outcoming problems. The Blockchain can be timestamped and validated with a constraint. The main contribution involved in the paper can be summarized as analysis of security threats for decentralized users, IoT security issues with low-level and high-level, how to overcome with Blockchain security attacks. The security threats in IoT exploit Vulnerabilities of different components as software based applications, physical devices. In a distributed system, the decentralized data can be exchanged between each user by using separate key values. The generation of keys can be designed with certification. The keys are stored in a transaction history using blocks. A global security mechanism for various IoT protocols can be implemented interoperably.

Blockchain Technology to Handle Security and Privacy for IoT Systems: Analytical Review

IJEER , 2022

With a large number of mobile terminals accessing IoT for information exchange and communication, security issues such as identity authentication, data transmission, and device failure are becoming more and more serious. Most of the traditional security technologies are based on centralized systems, and due to the limitation of IoT topology, traditional security technologies can only be applied to specific industries. Blockchain technology has the features of decentralization, data encryption, and tamper-proof, which are especially suitable for application in complex heterogeneous networks. This paper discusses for the first time the use of the block chain in many fields, providing an opportunity to address IoT security issues. Second, it discussed the IoT acceptance on various domains and the privacy issues IoT faces on limited resources. Finally, this paper investigates many of the problems facing the integrated process of block chain-based and IoT-based applications. The purpose of this article is to provide an overview of block chain based policies for privacy protection in IoT. After analyzing related solutions, blockchain technology can work better in the area of IoT security and privacy protection.