Cyber Security in Blockchain Technology

Abstract

Numerous qualities of blockchain technology are available, such as decentralisation, dependability, trackability, and immutability. But by itself, this technology is unable to ensure cybersecurity. This study seeks to present a thorough analysis of the methods and components proposed to achieve cybersecurity in blockchain-based systems. Our research investigates the many potential forms of assaults before making recommendations for how to defend against them. Our findings demonstrate that fresh blockchain applications can benefit from the Internet of Things (IoT), networks and machine visualisation, public key cryptography, online apps, certification systems, and safe keeping of personally identifiable information (PII). Blockchain has steadily grown in popularity as one of the best ways to protect data storage and transmission using decentralised, trustless, and transparent mechanisms. However, recent research on the security and privacy of blockchain technology has revealed that effective attacks have been launched against a number of apps.