Cyber Security in Parallel and Distributed Computing
by Dac-Nhuong Le, Raghvendra Kumar, Brojo Kishore Mishra, Jyotir Moy Chatterjee, Manju Khari
Chapter 6Introduction to Blockchain Technology
Ishaani Priyadarshini
University of Delaware, Newark, Delaware, USA
Abstract
Data is one of the most valuable assets. With cyber criminals becoming increasingly skillful in their attempts to steal valuable data, cybersecurity tends to be one of the greatest global concerns, making cyber defense mandatory. In the past, various techniques have been proposed owing to the security needs of various institutions; however, security assaults know no bounds, hence resulting in either the techniques being weakened or futile. The latest approach to protect valuable data is blockchain technology. In this chapter we will be taking a look at the concept of blockchain technology and how it is crucial to the security industry. As we delve a bit more into the details, we will be taking a look at the characteristics of blockchain technology, its structure, types, architecture and workings. Since Bitcoin is one of the most widespread applications of blockchain technology, this chapter also highlights the workings of bitcoins. Later on, we discuss a few of the challenges faced by this technology and its scope in the future.
Keywords: Blockchain, Bitcoin, cybersecurity
6.1 Introduction
One of the biggest cybersecurity issues faced by individual computer users as well as corporate firms is data theft, not only because it threatens an individual’s privacy, but also because it defeats one of the primary purposes of ...