Blockchain Privacy and Its Security Challenges
Manoj Kumar M V, B Annappa, Likewin Thomas, Sourav Kanti Addya, M Niranjanamurthy · 2022
Nowadays, blockchain has become the most popular. Decentralization, anonymity, auditability, and persistence are some of the advantages of the blockchain. It helps in changing people&s;s lifestyles in many areas, which includes, E-health Care, Industry, Supply Chain, Business, etc., and day by day it is also continuing its impact to many places. There are many features in the blockchain which are more reliable and have convenient services. Apart from its reliability, blockchain has many security and privacy issues because of the virtue of its design where data manipulation is considered to be impractical. It has several applications, which include cryptocurrency, energy systems, IoT, E-business, risk management, and public and social services, financial services. So, in today&s;s era, it has become important to talk about its security and privacy issues and challenges. Every advantage of blockchain is accompanied by major privacy and security concerns. This paper talks about the expanding technology of a blockchain in today&s;s period, and after that, it will cover the consensus algorithm that is present in the blockchain, as well as its types, working, structure, and benefits. Then, the paper will describe the application of this rising technology of Health, Banking, Government Sector, etc in the blockchain. Following that, we will proceed to the security attacks that are a threat to blockchain technology. Finally, the paper will conclude the paper with the conclusion.