A Systematic Study on Blockchain Security and Privacy

Abstract: Blockchain is a decentralized ledger that may be used to safely exchange digital currency, make deals, and complete transactions. Each network member has access to the most recent encrypted ledger copy in order to validate a new transaction. The blockchain technology has a number of benefits, including decentralization, trustworthiness, track ability, and immutability. This paper describes the blockchain architecture and explains the concept, characteristics, and importance of blockchain in security, as well as how Bitcoin works and how to improve IoT security. It tries to emphasize the importance of Blockchain in defining the future of cyber security, cryptocurrency, and IoT adoption. This article discusses the importance of blockchain technology in a variety of technological domains, as well as its advantages over traditional systems.

Keywords: Blockchain, Network Security, Bitcoin, Decentralized server, Transactions.