Privacy issues in blockchain
Prabha Selvaraj, D. Sumathi, Vijay Kumar Burugari, Kanmani Palaniappan · 2020
Blockchain technology is a new innovation of secure computing without centralized authority in an open -networked system as explained by Nakamoto. Blockchain stores the data in a distributed database that maintains a table of transaction record by arranging them into a hierarchical order of blocks. As far as security is concerned, blockchain is a decentralized peer -to -peer (P2P) network that is secured by an intelligent cryptography algorithm. Each node that is involved in the transaction is connected to the same blockchain data transaction itself since this has a distributed database. For example, in a digital currency, the blockchain is available to all such that entire transaction process can be monitored again to the first block. Bitcoin contains the false name in which the data nodes are not directly connected with the original data, but the repeated occurrences are associated with other. Blockchain is an innovation that is created by utilizing a mix of different strategies, for example, arithmetic, calculations, cryptography, and monetary models.