A Novel Approach on Advancement of Blockchain Security Solution

Abstract

Blockchain technology is an emerging technology that has the potential to transform the way of sharing data and transfer of value. Blockchain platforms are currently being used across the world in several government processes and business domains, for their unique characteristics. Even though blockchain shows potentials in its ability to provide a limitless number of inventive commercial trading, payments, government, healthcare, military and other critical applications, they face a security weakness on their recent prominent breaches of exchanges. Hence, there remain major security issues that are essential to be overcome before blockchain adopts the mainstream. And currently, this technology relies on hardware security modules (HSM) for the management and protection of their digital keys. The HSM generates key pairs, has secure storage and can off-load cryptographic operations from the entire system. But recently, FPGAs are preferred for hardware realization of algorithms considering its flexibility, low cost and long-term maintenance. It also has an advantage of reconfigurable or reprogrammable hardware design whenever new security or adaptation of an algorithm is required to support higher security levels. The paper presents a review of hardware security modules and proposed to enhance the scalability and reliability of the HSM by implementing it with the silicon-based secure module. Integrating PUF technology into the chip for storing and securing encryption or private keys, its security level can also be improved.