Applications of Blockchain in Cyber Security Industry

A blockchain is a decentralized record that is used to securely transfer digital currencies, make agreements, and trade. Everyone in the system goes to the most recent duplicate of the encoded record in order to authorize another transaction. A blockchain record is a collection of all prior bitcoin exchanges. Fundamentally, it is a suitable database that keeps up with a continually developing, highly organized information structure of blocks that hold a large number of individual transactions. Blockchain innovation has seen adoption in a variety of organizations, most notably in the use of digital currency. Regardless, innovation is useful in cyberspace. This chapter examined a few application cases of Blockchain in the cybersecurity industry. A majority of specialists are working on the acceptance of blockchain to safeguard IoT (Internet of Things) devices, systems, and information. The chapter has examined the methods proposed by previous analysts through which blockchain can carry the expense of security. Finally, the chapter has proposed the future of a single blockchain for building cyber security applications for coordination and consistency among security arrangements.

Keywords: Bitcoin, Blockchain technology, Cyber security