Deficiencies in Blockchain Technology and Potential Augmentation in Cyber Security
Eshan Bajal, Bhatia Madhulika, Lata Nautiyal, Madhurima Hooda · 2021
There are many user cases and actors who play a role in the transactions that are automated and activities involved. These activities are changed securely by many users in the network. The changes and updations are logged when we implement. Blockchain is a shared database providing a token manager to keep track of logs generated by nay data transaction. There are lot of security concerns related to blockchain technology. But on the other hand it represents a greater cybersecurity threat than old technologies-like database. Users have same level of risk when they use blockchain. In this chapter the major concerns to security related to blockchain is discussed as well as issues and facts that reveal that blockchain inviting new challenges or edging off risk of security. This chapter aims at privacy challenges as well decentralization challenges related to blockchain technology. There are issues with business models as well as regulatory concerns. There are scandals and perception of end user will also be contended. The other side which shows that really Blockchain is trust-worthy or inviting new challenges for system architect as well database administrators.