These days, cyber security is the biggest challenge for all types of developments in the IT sector. Blockchain is one such method that is deployed to ensure the security of the financial services industry. Blockchain is sub-categorized into two; Public blockchains and permissioned blockchains. It uses cryptography, consensus algorithms smart contracts, and storage.
This blockchain-based cyber security has gained prominence in the past few years and is deployed in most of IT-based structures. Due to increment in the interconnectedness and interdependence, the vulnerability of the setup to cyber attacks has grown manifolds in the recent past.
Idea is to mitigate the attacks using blockchain-based cyber securityas this can be consulted, shared, and secured because of the census based algorithms. This technique is used so as to decentralize the availability of data enabling, hence cutting off the requirement of intermediaries.
Issues in the current technology
The node communication technology makes the entire system prone to cyber-attacks. There is an absence of a path of secure transmission in the structure of blockchain-based cyber securitywhich eventually leads to this.
In this proposed research,blockchain-based cyber security technology is used to protect data and information from exploiters. This technique is used to automate the procedure of the structure and schedule the backups and manage the immutable storage. The nodes in the network will process the transactions by validating the digital signature using the public key thus ensuring that only preapproved clients can perform backups.
Multiple hardware technologies like RFID tags are used as they are tamper-resistant and their digital identities can be stocked up safely using the hardware. By verifying the signature with the help of a public key embed in the digital identity, other nodes can identify the device that has created the record. They cluster together and add it to the blockchain with the underlying consensus protocol.
In the proposed research model, the method for blockchain-based cyber securityis based on nodes and clients is deployed in which nodes act as servers and clients are the transactional users. Then the hash algorithm is used that helps in linking the blocks to each other. This serves the aim of prevention of data tampering. This is one of the safest methods because if one of the nodes is disturbed or exploited, data in other nodes remain safe.
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