Blockchain Technology: Systematic Review of Security and Privacy Problems and Its Scope with Cloud Computing

Abstract

The Blockchain is a mutual, disseminated record that encourages the process of account exchanges and following resources in a business organization. Blockchain empowers parties who do not completely confide in one another to keep up a lot of worldwide areas. It is a system comprised of transactions, immutable ledgers, decentralized peers, encryption processes, consensus mechanisms, optional smart contracts. It is a digital innovation which is meant to drastically alter financial markets very soon, within a cryptographic ecosystem that has the potential to also impact trusted computing activities and therefore cyber-security concerns as a whole. The study manages an overview on the security and protection issues which features the adequacy of security that has been inferred in the types of distributed computing and blockchain advancements. The paper is organized as follows:(1) Next part of the paper deals with the introduction of blockchain technology and security issues related to it. (2) Then it deals with the security and privacy issues along with the evidence of-idea for decentralized vitality exchanging framework utilizing square chain innovation, multi-marks, and mysterious encoded informing streams, empowering friends to secretly arrange vitality costs and safely perform exchanging exchanges. (3) Later, it presents the implementation of block-chain in cloud storage to enhance security and block-chain solutions in cloud. Innovation has been utilized with the cloud as far as security and capacity are concerned. This study proposes a heuristic way to deal with errand planning for the cloud utilizing square chain. The work attempts to improve the parameters, for example, hold up time, execution time, and Service Level Agreement (SLA) that will in the end help to decrease the vitality utilization and its expense. (4)  Blockchain applications in financial and non-financial sectors are mentioned afterwards. (5) Then the paper defines the challenges and opportunities of block-chain. This study gives the block-chain security issues, introduces typical block-chain consensus algorithms, reviews block-chain applications and solutions to security threats and discusses technical challenges as well as recent advances in tackling the challenges. (6) Then it presents security investigation and execution assessment inside the setting of the evoked security and protection necessities. We at that point introduce BLOCKBENCH, a system for benchmarking. We lead an extensive assessment of three noteworthy square chain frameworks dependent on it. (7) We then conclude this paper with potential research questions as future scope in the end.

 Cite this Article

Vishal Kumar Verma. Blockchain Technology: Systematic Review of Security and Privacy Problems and Its Scope with Cloud Computing. Journal of Network Security. 2019; 7(1): 1–6p.