9th International Conference on ICT for Sustainable Development

Authors - Shailender Kumar Vats, Prasadu Peddi, Prashant Vats
Abstract - Blockchain technology has emerged as a revolutionary concept with transformative potential across various industries. Its decentralized and immutable nature offers promising solutions to longstanding issues in data management, finance, supply chain, and beyond. However, alongside its promise, blockchain also presents significant security concerns that must be addressed to fully harness its benefits. This research paper provides an introductory exploration of blockchain technology, delving into its fundamental principles and mechanisms. Additionally, it examines the multifaceted security challenges inherent in blockchain systems, including issues related to consensus mechanisms, smart contracts, privacy, scalability, and regulatory compliance. By comprehensively understanding both the potential and the risks associated with blockchain technology, stakeholders can make informed decisions to navigate this evolving landscape effectively.