Paper Key : IRJ************419
Author: Loganathan R,Hariharan S B,Hariharan R,Haridharan A,Kubendiran E,Vignesh K
Date Published: 06 Nov 2023
Abstract
Blockchain technology has garnered significant attention due to its wide array of potential applications, initially emerging as the foundation for the cryptocurrency Bitcoin. However, it has since found utility across various industries and non-commercial domains. Unlike most prevailing systems based on centralized architectures, this innovative approach employs peer-to-peer networks and a distributed system utilizing a blockchain ledger to establish connections. Its framework functions as a digital log, organized into a series of interconnected units known as blocks. Each block is cryptographically secured to its preceding block, rendering it immutable once added. Many experts believe that the inherent cryptographic nature of blockchain systems makes them resilient against constant hacking attempts and security threats. Nonetheless, prior research on the security and confidentiality of blockchain technology has revealed instances where applications have succumbed to sophisticated cyber-attacks. With the increasing demand for cryptocurrencies and the existing security challenges, earlier studies did not extensively focus on the cybersecurity vulnerabilities of blockchain technology. Consequently, our research endeavors to shed light on potential attacks targeting the weaknesses in blockchain technology's cybersecurity.
DOI LINK : 10.56726/IRJMETS45781 https://www.doi.org/10.56726/IRJMETS45781