Perspectives of Blockchain in Cybersecurity: Applications and Future Developments

Perspectives of Blockchain in Cybersecurity: Applications and Future Developments

Muath A. Obaidat (Center for Cybercrime Studies, City University of New York, USA) and Joseph Brown (City University of New York, USA)
DOI: 10.4018/978-1-7998-6650-3.ch006
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Abstract

In recent years, blockchain has emerged as a popular data structure for use in software solutions. However, its meteoric rise has not been without criticism. Blockchain has been the subject of intense discussion in the field of cybersecurity because of its structural characteristics, mainly the permanency and decentralization. However, the blockchain technology in this field has also received intense scrutiny and caused to raise questions, such as, Is the application of blockchain in the field simply a localized trend or a bait for investors, both without a hope for permanent game-changing solutions? and Is blockchain an architecture that will lead to lasting disruptions in cybersecurity? This chapter aims to provide a neutral overview of why blockchain has risen as a popular pivot in cybersecurity, its current applications in this field, and an evaluation of what the future holds for this technology given both its limitations and advantages.
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Characteristics Of Blockchain

The usages of blockchain within cybersecurity and other perpendicular fields such as finance, typically lean on the core architectural traits of blockchain rather than more tangential extrapolations of its functionalities. Possible usages of blockchain within the field which have been promoted both by studies and private firms have included digital identity management, including digital signatures which is a direct derivative of the inherent functionality of the data structure. There are typically five core architectural characteristics of blockchain: decentralized, immutable, anonymous, cryptographically encrypted, and trust-based. Each of these elements has their own extrapolations within the field of cybersecurity (Yeasmin, 2019; Yassein, 2019). Brief explanation is as follows:

Key Terms in this Chapter

Availability: A principle of cybersecurity which states that authorized users should be able to not only access systems as needed, but also perform needed tasks and data transactions.

Immutability: The ability for data to exist within a source while maintaining definition and inarguable integrity, for connected systems to transmit such data without error.

Access Control: A fundamental concept of cybersecurity facilitated through the regulation of who and/or what can view, maintain, and use individual resources within a system.

End-Point Security: A method of protecting system networks which relies on the security of bridged devices participating in a network.

Confidentiality: A principle of cybersecurity which dictates that only those who should be able to have access to certain data, should be able to access it.

Cloud Computing: A method of distributed computing in which a network of remote servers are used to remotely provision, manage, store, and process rather than using local systems.

Internet of Things (IoT): The interconnected web of devices spread between internet-connected computers and processors embedded within everyday systems, which receive and transmit data.

Transaction: An event between at least two systems or participants where a sequence of information is sent and received by participating entities.

Peer to Peer (P2P): A method of networking in which a network is distributed across interconnected nodes for whom resources are shared, without a centralized source, thus coordinating outside of a traditional client-server model.

Cryptocurrency: A decentralized, blockchain-based system of digital currency assets where digital coins are stored in distributed ledgers, and units are generated through strongly protected cryptographic means.

Integrity: A principle of cybersecurity which dictates that data should be insured to be both accurate and untampered with, from any unauthorized entities.

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