Security Mechanisms and Challenges in Blockchain Technology
J. S. Prasath, Mohd Sameen Chishti · 2025
Blockchain is a shared, fixed account that assists in recording transactions and assets in a business network. A blockchain is a distributed database or ledger separated among network devices. Blockchains store information in blocks linked jointly through cryptography. Blockchain technology is a decentralized, shared account that stores the proof of ownership of digital assets. Each transaction is separately confirmed by peer-to-peer computer networks, time-stamped, and added to the ledger. This proposed work is the detailed framework of various blockchain security issues and mechanisms. This work focuses on various security threats and discusses future research directions. Cryptocurrencies are an important blockchain technology concept that stores and secures each transaction. When the blockchain is developed for enterprise applications, it is essential to have an extensive security scheme that utilizes cyber-security frameworks, assurance services and best practices to decrease risks against attacks and fraud. The concept of blockchains is used in various applications, including supply chain management, trade finance, voting schemes, keeping of real estate records, maintaining of medical records, livestock, authenticating ownership, and evaluating assets.