Block Chain Security Article 2022

Running head: Block chain security
Importance of block chain in cyber security
Name of Student
Name of the University
Author note

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Annotated bibliography
Kshetri, N. (2017). Blockchain's roles in strengthening cybersecurity and
protecting privacy. Telecommunications Policy, 41(10), 1027-1038.
The blockchain technology is well-known for providing strong as well as robust cyber
security solution along with effective and advanced privacy protection. In the model of
blockchain, it is not necessary to store the information with the third parties. Rather, all the
records are kept in the interconnected blocks. Utilization of the blockchain-based approach
will surely become advantageous in enhancing the cyber security, as there is no point of
vulnerability or failure in the blockchain (Kshetri, 2017). Moreover, it is vital to acknowledge
that bitcoin, is the widely adopted blockchain application. However, the particular application
had one wrong public perception about the hacking and security. Nevertheless, it has noticed
that the bitcoin transaction between two parties, using the private key is always safe from any
kind of unethical cyber activities.
Shackelford, S. J., & Myers, S. (2017). Block-by-block: leveraging the power of
blockchain technology to build trust and promote cyber peace. Yale JL &
Tech., 19, 334.
The current technological age is providing immense attention towards the
transformative power for not only the crypto-currencies such as, Bitcoin, but also one vital
underlying technology such as blockchain. The particular technology is identified as one
distributed online ledger which holds potential to block every unethical activity around the
network. It provides one secure peer-to-peer as well as distributed network, which is helpful
in creating a list of the existing records in each block (Shackelford & Myers, 2017). The
transactions in every block is carried out in a signed cryptographic manner, and these
transactions are identified as well as validated automatically by the network. In addition to

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that, the author has also explained the potential impact of this particular technology in
modernizing the cyber security of different industries by focusing on the critical infrastructure
context certificate authorities.
Crosby, M., Pattanayak, P., Verma, S., & Kalyanaraman, V. (2016). Blockchain
technology: Beyond bitcoin. Applied Innovation, 2(6-10), 71.
The blockchain technology can be recognized as one distributed database of number of
digital records that are meant to be shared among different parties. Before the completion of
every transaction, each of the associated public ledger is verified via participants in their systems
(Crosby et al., 2016). Bitcoin, is the most adopted blockchain technology that implements a
peer-to-peer decentralized digital technology. The article also discussed that, the chosen
technology is advantageous in developing a scalable digital economy, rather than the centralized
one. In addition, article, the author has discussed about the utilization of this technology in the
financial as well as non-financial sectors, along with the potential opportunities and challenges
associated to the technology.
Pilkington, M. (2016). 11 Blockchain technology: principles and applications.
Research handbook on digital transformations, 225.
This article explains that, the blockchain, using the public key cryptography is helpful in
avoiding the security issues of the network. However, it is mandatory for every agent to have one
private key as well as a public key. The private keys are similar to the passwords and kept secret;
whereas, the public keys are generated cryptographically to be shared with the agents. The
transactions occurring in the blockchain is carried out after the authorized verification of the hash
digital signature. As opined by Pilkington, (2016) the hash function used in the blockchain
transactions are nothing but the mathematical algorithm which performs by taking appropriate
input and producing an output. The article had provided an overview of the different application

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of blockchain along with an explanation of the public, private and hybrid blockchain; in addition
to that, the use of appropriate resources makes the article an authentic one.
Puthal, D., Malik, N., Mohanty, S. P., Kougianos, E., & Yang, C. (2018). The
blockchain as a decentralized security framework [future directions].
IEEE Consumer Electronics Magazine, 7(2), 18-21.
Blockchain is one emerging technologies for ensuring the cybersecurity. The
usefulness of this technology has successfully replaced all type of economic transaction in
various organizations. Although it promises a secure distributed framework to facilitate
sharing, exchanging and integration of information across all the users and third parties, it is
important for the planners and decision-makers to analyse it in-depth for its suitability in their
industry and business applications. The advanced cryptography used in this distributed public
keep the data encrypted and safe. Moreover, it discards using the centralized devices in
different networking forms including IoT. Hence it becomes easy for the devices to manage
bugs, update their software and perform direct communication.
MATANOVIĆ, A. (2017). Blockchain/Cryptocurrencies and Cybersecurity,
Threats and Opportunities. For Publisher, 11.
This article highlighted the block chain as one underlying technology used by the
Cryptocurrencies. According to MATANOVIĆ, (2017) blockchains are distributed database
that creates several blocks for maintaining the set of information. Moreover, the blockchains
used in the cryptocurrency reflects the public ledger associated to every transaction.
However, the Public blockchains are most likely to affect by the lesser available of
bandwidth and minimal storage capacity. Furthermore, these are also accessible by anyone
who makes unfeasible storage of the sensitive data. Whereas, the private blockchains, as
compared to the public ones are flexible and have more storage capacity.

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Swan, M. (2017). Anticipating the economic benefits of blockchain. Technology
innovation management review, 7(10), 6-13.
This article represented the blockchain as the network software protocol, which
ensures the secure transaction of data, information, money as well as other assets over the
internet by avoiding any third party interaction. The particular technology has several
applications such as, digital assets registry, leapfrog technology, personalized economic
services along with the peer banking services (Swan, 2017). The Bitcoin protocol used by the
blockchain technology are beneficial in securing all transactions carried out over the internet.
Whereas, the digital currency is one effective application of this particular technology that is
helpful in real time payment and money transfer along with property registries, confirmation
identification and contractual agreements.
Boudguiga, A., Bouzerna, N., Granboulan, L., Olivereau, A., Quesnel, F., Roger,
A., & Sirdey, R. (2017, April). Towards better availability and
accountability for iot updates by means of a blockchain. In 2017 IEEE
European Symposium on Security and Privacy Workshops (EuroS&PW) (pp.
50-58). IEEE.
The application of IoT in this technological age is gaining higher demand due to its
characteristics, and ease of use in several complex applications; however, the same needs
sophisticated security approaches. According to this article, blockchain are the efficient
technology for providing higher security to the usefulness and application of IoT. The main
concept associated to the blockchain explains that, the data which are generated by the
divices and users are need to be verified in order to ensure its correctness. Though this
technology partly supports non-repudiation and integrity; yet, the privacy and confidentiality
of the device and information are not that preserved. Hence, for addressing the privacy issues,

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the modern privacy-preserving blockchain system can be applicable to the IoT applications,
which are mainly based on the attribute-based encryption (ABE) processes. The privacy,
security as well as secure numerical analyses validated by this proposed model.
Deshpande, A., Stewart, K., Lepetit, L., & Gunashekar, S. (2017). Distributed
Ledger Technologies/Blockchain: Challenges, opportunities and the
prospects for standards. Overview report The British Standards Institution
(BSI), 1-34.
In current years, the Distributed Ledger Technologies (DLT) are gaining attention in
due to having secure method for updating and storing the data. However, these are the ledger
are differ from the ledger system and centralized networks. One well-identified use of this
particular technology is the blockchain technology and here all the ledgers are encompassed
with different blocks of transactions (Deshpande et al., 2017). Moreover, this technology
underlies in the application of the cryptocurrency Bitcoin. Nevertheless, the main purpose of
the DLT is to think beyond serving the financial sectors. The governance market issues,
security issues of the network has become the opportunity in the expansion of this particular
technology.
Linkov, I., Wells, E., Trump, B., Collier, Z., Goerger, S., & Lambert, J. H.
(2018). Blockchain Benefits and Risks. The Military Engineer, 110(714), 62-
63.
In order to encounter the different cybersecurity problem, blockchain technology has
proven to be efficient. This article has described the usefulness of blockchain in the military
approaches based on the findings of the department of defence (DOD). Blockchain
technologies are the distributed ledger technologies that enables secure and peer-to-peer
transaction (Linkov et al., 2018). Based on the cryptographic framework, these particular

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technologies can efficiently provide the audit trail, which is irreversible and these are also
efficient in prevents the past transactions from any kind of modification. However, for
collecting more secure and appropriate result from this technology, they need to be updated
frequently. Furthermore, the current ecosystems can cope up with the consortium of the
discussed technology, which is helpful in getting a comparative secure network platform.
Songara, A., & Chouhan, L. (2017, October). Blockchain: a decentralized
technique for securing Internet of Things. In Conference on Emerging
Trends in Engineering Innovations & Technology Management (ICET:
EITM-2017).
This article explained that, the blockchain is one database or ledger that is based on
the application of the bitcoin. Every transaction undertaken using this technology gets
verified by the special nodes named as miners that simplifies the complicated cryptography
for adding blocks to the blockchain. As every block has its associated hash function, it
becomes impossible to modify the historic transactions. The advantages of cryptocurrency
and bitcoin is helpful in ensuring the security of the network. The author has also discussed
about the working methodology and usefulness of the blockchain in different sectors such as,
Internet of Things (IoT), banking sectors, financial and non-financial sectors. The author has
conducted a critical analysis of the paper by discussing both the benefits and limitations of
the particular technology. Higher network security, quicker transactions and many others
comes under the advantages of the blockchain. On the other hand, scalability and
computation power might hinder the working methodology of this technology.

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Iansiti, M., & Lakhani, K. R. (2017). The truth about blockchain. Harvard
Business Review, 95(1), 118-127.
According to Iansiti & Lakhani, (2017), in order to provide better network
security, the TCP/IP and the blockchain perform in a parallel manner. The usefulness and
low-cost connectivity of the transmission control has changed the current internet era.
Parallel to that, the blockchain is also not in its infancy. These are efficient enough to track as
well as manage the devices without centralized controller or any third party interaction. In
addition, this particular technology builds one distributed cloud storage approach over the
peer-to-peer network for enhancing the speeds as well as resiliency of the network that is cost
effective. Similar to the blockchain technology, the TCP/IP also helpful in decreasing the
total cost associated with providing secure connection to the users.
Journal synopsis
Aim
The aim of this report is to identify the usefulness and impact of blockchain in enhancing the
cybersecurity.
Method
In order to explain the impact of blockchain on cybersecurity, a literature review by taking
authenticated sources is conducted.
Result
After analysing the articles, an overall idea regarding the core topic has gathered. Moreover,
it has found that, using the current age blockchain technology the cybersecurity can be
enhanced.

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Discussion
The blockchain technology is identified as one distributed ledger, where, all the
ledgers are spread over the network between the available peers. Moreover, every single peer
comprises with one copy of complete ledger. The key attribute of this technology adds peer to
peer, distributed, consensus, add only and cryptographically secured approaches.
Conclusion
Therefore, it can be concluded from the analysis that, the usefulness of blockchain can avoid
DDoS attacks, cyber threat and fraud by ensuring the network’s security.

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Reference
Boudguiga, A., Bouzerna, N., Granboulan, L., Olivereau, A., Quesnel, F., Roger, A., &
Sirdey, R. (2017, April). Towards better availability and accountability for iot updates
by means of a blockchain. In 2017 IEEE European Symposium on Security and
Privacy Workshops (EuroS&PW) (pp. 50-58). IEEE.
Crosby, M., Pattanayak, P., Verma, S., & Kalyanaraman, V. (2016). Blockchain technology:
Beyond bitcoin. Applied Innovation, 2(6-10), 71.
Deshpande, A., Stewart, K., Lepetit, L., & Gunashekar, S. (2017). Distributed Ledger
Technologies/Blockchain: Challenges, opportunities and the prospects for standards.
Overview report The British Standards Institution (BSI), 1-34.
Iansiti, M., & Lakhani, K. R. (2017). The truth about blockchain. Harvard Business Review,
95(1), 118-127.
Kshetri, N. (2017). Blockchain's roles in strengthening cybersecurity and protecting privacy.
Telecommunications Policy, 41(10), 1027-1038.
Linkov, I., Wells, E., Trump, B., Collier, Z., Goerger, S., & Lambert, J. H. (2018).
Blockchain Benefits and Risks. The Military Engineer, 110(714), 62-63.
MATANOVIĆ, A. (2017). Blockchain/Cryptocurrencies and Cybersecurity, Threats and
Opportunities. For Publisher, 11.
Puthal, D., Malik, N., Mohanty, S. P., Kougianos, E., & Yang, C. (2018). The blockchain as a
decentralized security framework [future directions]. IEEE Consumer Electronics
Magazine, 7(2), 18-21.

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Shackelford, S. J., & Myers, S. (2017). Block-by-block: leveraging the power of blockchain
technology to build trust and promote cyber peace. Yale JL & Tech., 19, 334.
Songara, A., & Chouhan, L. (2017, October). Blockchain: a decentralized technique for
securing Internet of Things. In Conference on Emerging Trends in Engineering
Innovations & Technology Management (ICET: EITM-2017).
Swan, M. (2017). Anticipating the economic benefits of blockchain. Technology innovation
management review, 7(10), 6-13.