Advanced Cryptographic Technologies in Blockchain
Osheen Oberoi, Sahil Raj · 2022
Blockchain technology is a kind of distributed architecture that consists of crypto secure mechanisms in mathematics, algorithms, and numerical models. The term blockchain consists of two words wherein the word “block” signifies digital information, and the word “chain” denotes the public database. Each transaction in blockchain is recorded through digital distributed ledger. These transactions are also validated by using a digital timestamp, thus facilitating the users with the feature of auditability and transparency to examine the state of data in the blockchain system. This cryptographic feature in blockchain technology enhances the layer of security in the system. The blockchain technology has gained pace in the 21st century and is utilized as an impressive and complementary technology to traditional cloud-based solutions for enhancing the security of data. It is a digital ledger of information that is decentralized in nature. Blockchain technology possesses the capability to create more transparency as well as it greatly reduces the likelihood of data breaches. This technology is garnering attention and can be utilized in a variety of sectors like healthcare, supply chain, identity management, to name a few.