Security Concerns of Blockchain
Neha Jain, Kamiya Chugh · 2021
Blockchain is a chain stored in a public database which is made up of blocks that contains digital information. Despite the fact that faultfinders are challenging its durability, safety and stability, it has officially changed the way of life of numerous people due to its overwhelming impact on many applications. The blockchain emerged as a novel distributed consensus scheme that allows transactions, and any other data, to be securely stored and verified without the need of any centralized authority. Distributed trust and therefore security and privacy are at the core of the blockchain technologies, and have the potential to either make them a success or cause them to fail. Although the feature of blockchain technologies may bring us more reliable and convenient services, the security issues and challenges behind this innovative technique is also an important topic that we need to concern. In this chapter, we will try to present security threats to the blockchain because a hacker cannot modify the data on the blockchain because each user has a copy of the book and the data in the block is encrypted. This chapter also describes security attacks and their prevention for developing advanced blockchain systems.