Question:

Discuss the role of blockchain in cybersecurity with suitable use cases.

Ans:
Blockchain Technology:
A blockchain is a growing list of the record is called blocks. Blocks are linked
using cryptography. Each block has a cryptographic hash of the previous block,
a timestamp, and transaction data. By design, it a resistant to modification of the
data. It is “an open, distributed ledger. It can record transactions between two
parties efficiently and in a verifiable and permanent way”. A blockchain is
typically managed by a peer-to-peer network collectively adhering to a protocol
for inter-node communication and validating a new block. Blockchain is
invented by a person using the name Satoshi Nakamoto in 2008. The blockchain
invention for bitcoin made it the first digital currency to solve the double-
spending problem. It solves the need for a trusted authority or central server.
The bitcoin design has inspired other applications, and blockchains that are
readable by the public are widely used by cryptocurrency. Blockchain is
considered a type of payment rail. Private blockchains have been proposed for
business use. Sources such as the Computer world is called the marketing of
such blockchains without a proper security model “snake oil".
Blockchain Structure:
The blockchain data structure is explained as a block’s back-linked record of
transactions. It will be saved as a file or in a plain database. Each block will be
recognized by a hash, which is created utilizing the SHA256 cryptographic hash
algorithm on the header of the block. Each block mentions their former block,
also identified as the parent block, in the “previous block hash” field, in the
block header. Let’s first look at each term more closely.
• • Index – This term symbolizes the location of the block inside the
blockchain. The first block is indexed ‘0’, the next ‘1’, and so on.
• • Hash – Hash is the function which facilitates the rapid classification of
data in the dataset
• • Previous hash – Every block in blockchain data structure, is associated
with its ancestors. This characteristic adds to its immutability as a variety in the
order of blocks.
• • numTx – This ware a tally of the number of transactions enumerated in
the block.
• • Timestamp – It saves the time aspects of when the block was built.
• • Nonce – It saves the integer (32 or 64bits) that are utilized in the mining
method.
• • Transaction – This is a different track saved as arrays in the frame of
the block. They save the specific version of a transaction executed so far in the
block.
• • Merkel Tree– A Merkle tree, also perceived as a binary hash tree, is a
data structure utilized for efficiently compiling and validating the uprightness of
large sets of data.

What is Block?
The block is a package data structure. According to Bitcoin Book, a block is a
container data structure that cluster transactions for incorporation in the public
ledger known blockchain.
The role of blockchain:
Now-a days, cybercriminals are increasing their technology for the cyberattack
which helps them to attack the victim correctly and reduce the risk. In present
days, the attacker attacks the victim to steal valuable data like bank account
details, financial data, business data, health records, personally identifiable
information (PII) and list of the intellectual property and restoring the data to
highly profitable strategies like using the data in the overall operations of
business via DoS attack, DDoS attacks or monitoring data access via the
developing of advanced ransomware techniques.
Blockchain is known as Distributed Ledge Technology because of the
decentralized, digitized, public ledger of all cryptocurrency transactions and
uses. This help to use the cyber-defense as a platform which can prevent the
attacker’s fraudulent activities via consensus mechanisms and detect data
tampering depending on its underlying characteristics of operational resilience,
data encryption, auditability, transparency, and immutability. Blockchain tries
to solve the lack of trust between the counterparties at the basic level. It is used
in both public and private sections and the data are stored in a centralized
structure so that everyone can access it. The valid transaction is stored in each
batch’s own block and they are interconnected.
Some roles:
Eliminating Human Factor from Authentication
Nowadays by using blockchain technology businesses are able to authenticate
devices and users. In this case, they need not use a password for authentication.
Blockchain eliminates human intervention from the process of authentication,
therefore avoiding it from becoming a potential attack vector.
In blockchain technology, centralized architecture and simple logins are utilized
which can be the big weakness of conventional systems. It doesn’t matter how
much money an organization invests in security purposes; all these efforts go in
vain if the employees and customers use passwords for authentication, which
are easy to steal or crack. Blockchain offers a strong authentication system and
resolving every single point of attack at the same time.
With the help of blockchain technology, a security system can leverage a
distributed public key infrastructure for authenticating devices and users for the
organization. This security system provides a specific SSL certificate instead of
a password for every device. Management of certificate data is carried out on
the blockchain and that’s why it makes it virtually impossible for attackers to
utilize fake certificates.
Decentralized Storage
Blockchain users can maintain their data on their computer using their network.
Because of this, they can make sure that the chain won’t collapse and all data
are safe. For instance, if an attacker attempts to tamper with a block, the entire
system examines each and every data block and try to find out the location of
one that block which differs from the rest. If this type of block can find out by
the system, it simply deletes the block from the chain and recognizing the block
as a false block.
In the blockchain, the storage location or central authority doesn’t exist. On the
network, every user has to store some or all the blockchain.Everyone in the
blockchain network has to play a very responsible role for verifying the data
that is shared and/or maintained to ensure that the existing data can’t be
removed from the chain and false data can’t be added into the chain.
Traceability
All of the transaction of the organization added to a private or public blockchain
is timestamped and signed digitally. It helps the companies to trace back to all
the transactions and locate the corresponding party’s public address for a
particular time period.
This feature relates to non-repudiation: the confirmation that someone can’t
verify their signature’s authenticity on a file, or the authorship a transaction that
they are unique. This blockchain’s functionality helps the system to increases
their reliability as every transaction is associated cryptographically to a user.
Any new transaction that gets attached to a blockchain results in the
transformation of ledger’s worldwide. This suggests that with the system’s
every new process, the previous state will be stored resulting into the history log
that is completely traceable which help to track the transaction.
The review capability of blockchain offers organization with a level of security
and transparency over every emphasis. From the perspective of cybersecurity,
this offers elements with an additional level of reconfirmation that the data
hasn’t been tampered and it is correct data stored.
DDoS
Blockchain transactions can be denied easily if the participating units are
obstructed from sending transactions. For example, a DDoS attack on a set of
entities or an entity can disable the whole attendant infrastructure and the
blockchain organization. These kinds of attacks can acquaint integrity risks to
blockchain.
At present, the difficulty in blocking the attacks due to DDoS comes from the
existing DNS (Domain Name System). The execution of blockchain technology
would decentralize the DNS, distributing a greater number of nodes thereby
making it almost impossible for cyber-attackers to hack. A system can ensure
that it is invulnerable to hackers by using blockchains to shield data unless
every single node is wiped clean at the simultaneously.
Blockchain technology is here to stay and it will help us protect as organization,
individuals, and governments. The innovative blockchain utilization is already
becoming a element of other fields beyond cryptocurrencies and is mainly
useful to upgrade cybersecurity.
Conclusion:
The conclusion is if any organization need a well setup cyber security system,
which can secure the organization data and network they need to setup a
security system based on the blockchain technology