Blockchain security relies on cryptography, decentralization, and consensus. Cryptography uses mathematical codes to securely store and transmit data values. Decentralization distributes control across a network rather than centralized control. Consensus requires all parties on the network to anonymously approve transactions. Key characteristics of blockchain security include distribution of processing across all peers, immutable and persistent records, use of digital signatures, and difficulty for hackers to edit blocks.

1. What makes BlockChain secure?
Security in computing

2. What is
BlockChain?
➔ A blockchain is a distributed database which is shared among the nodes
of a computer network.
➔ It collects information in group & stores it as a block, once a block
capacity is full, each block gets attached to a chain of data known as
blockchain.
➔ Blockchains are best known for their crucial role in cryptocurrency
systems, to manage and track records of transactions.

3. Core
strategies

4. Cryptography
➔ Blockchain applications leverage the concept of real-world signatures by
leveraging cryptography techniques along with encryption keys.
➔ Cryptography methods utilize advanced mathematical codes for the
storage and transmission of data values in secure formats.
➔ Cryptography serves confidentiality to the owner of data or transactions.

5. Public-key cryptography

6. Decentralisation
➔ The Decentralization refers to the transfer of control and decision-making
from a centralized entity (individual, organization, or group thereof) to a
distributed network.
➔ Decentralized networks strive to reduce the level of trust that participants
must place in one another, and deter their ability to exert authority or
control over one another in ways that degrade the functionality of the
network.

7. Consensus
➔ The transactions in blockchain technology are executed only when the
parties present on the network anonymously approve the same.
➔ One may even choose to alter the consensus-based regulations to match
the circumstances.

8. Key characteristics of
Blockchain security
➔ Blockchain is undeniably a measure that ensures security.
➔ It has become a disruptive technology due to its ability to centralize,
incentivize, digitize, and secure the transactions validation.
➔ Blockchain has the potential to simplify business processes and give
them access to enhanced performance and security.

9. Distributed
➔ The blockchain technology evenly distributes the processing
among all business peers.
➔ With Developing a shared infrastructure within the business
system.
➔ Participants can independently validate the details without any
centralized authority.

10. Immutable
➔ The blockchain transactions in the blockchain-based technology
are immutable.
➔ Even the code encryption is done for the transactions,
effectively covering the participants’ date, time, and information.

11. Digital Signature
➔ The blockchain technology streamlines the exchange of
translational values with unique digital signatures that depend
on public keys.
➔ In blockchain technology, private key codes are known only to
the key owners to develop ownership proof.
➔ It is a critical feature that avoids any fraud in blockchain record
management.

12. Persistent
➔ The blockchain technology invalid transaction detected by the
consensus-based system.
➔ It isn’t easy to roll back the transactions once they are integrated
into the blockchain ledger.
➔ Cryptographically, blockchain blocks are created and sealed
inside the chain, making it difficult for the hackers to edit or
delete already developed blocks and put them on the network.

15. Is BlockChain really
secure?

16. Conclusion
➔ Blockchain Technology has presented its potential for conventional
transformer industries with its key features like- persistence,
decentralization, audibility, etc.
➔ Blockchain offers highly enhanced security during transactions
irrespective of its value, also makes it a highly unique and universal
solution to streamline legal contracts and Enterprise transparency.

17. ➔ https://www.upgrad.com/blog/what-makes-blockchain-secure/
➔ https://www.slideshare.net/
➔ https://medium.com/@naresh.kurada/thoughts-on-security-
architecture-for-enterprise-permissiond-blockchain-applications-
f71d5529a438
➔ https://101blockchains.com/blockchain-cryptography/
References

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