Enhancing Cyber Security through the utilization of Blockchain Technology

Abstract

In today's digital era, cybersecurity is a matter of utmost importance as both organizations and individuals confront growing risks from unauthorized access attempts aimed at sensitive data and systems. Blockchain technology, initially developed as the foundation for cryptocurrencies like Bitcoin, has emerged as a promising solution to enhance cybersecurity. Operating as a distributed ledger that records transactions across multiple computers, blockchain brings forth several essential characteristics that can contribute to bolstering cybersecurity. While blockchain technology offers numerous advantages in terms of cybersecurity, it also introduces its own set of challenges and considerations, including scalability, privacy, and the potential vulnerabilities of smart contracts. The implementation of cybersecurity solutions based on blockchain necessitates meticulous design, robust key management, and a comprehensive understanding of the specific use case and associated risks. Overall, the incorporation of blockchain technology in cybersecurity holds the potential to elevate transparency, integrity, and resilience, empowering organizations and individuals to mitigate the risks posed by cyber threats and improve their overall security stance. This paper, which involves the analysis of 15 researchers, explores various use cases for applying blockchain in the field of cybersecurity. A significant focus among the researchers centers on leveraging blockchain to safeguard IoT devices, networks, and data. Furthermore, the paper delves into how blockchain can offer security measures for three problematic areas within IT that have been identified by previous studies.