Enhancing Blockchain Security: An Analysis of Encryption Technologies and Future Directions

Yefan Chang

2024

Abstract

This paper provides an in-depth analysis of encryption technology within blockchain, emphasizing the pivotal roles of public-key cryptography and hash functions in ensuring data security, integrity, and privacy. It explores how public-key cryptography facilitates secure data transmission and user authentication, while also highlighting the significance of hash functions in maintaining data immutability across blockchain systems. By examining established blockchain platforms such as Bitcoin and Ethereum, the study uncovers the practical challenges faced by these encryption technologies, including high computational complexity, susceptibility to collision attacks, and emerging threats from quantum computing. Through experimental evaluations, the paper identifies significant limitations in encryption technologies related to scalability, efficiency, and resilience against quantum threats. Future research directions will prioritize the development of more efficient encryption algorithms, particularly enhanced methods of Elliptic Curve Cryptography (ECC), and the exploration of quantum-resistant encryption techniques. Additionally, integrating privacy-preserving technologies such as Zero-Knowledge Proofs (ZKPs) with blockchain scalability solutions, including sharding and sidechains, will be crucial for future advancements. The findings of this study aim to inform strategies for enhancing the performance and security of blockchain encryption technologies, providing valuable guidance for their application in an evolving digital economy.

Paper Citation

in Harvard Style

Chang Y. (2024). Enhancing Blockchain Security: An Analysis of Encryption Technologies and Future Directions. In Proceedings of the 2nd International Conference on Data Analysis and Machine Learning - Volume 1: DAML; ISBN 978-989-758-754-2, SciTePress, pages 506-510. DOI: 10.5220/0013527300004619

in Bibtex Style

@conference{daml24,
author={Yefan Chang},
title={Enhancing Blockchain Security: An Analysis of Encryption Technologies and Future Directions},
booktitle={Proceedings of the 2nd International Conference on Data Analysis and Machine Learning - Volume 1: DAML},
year={2024},
pages={506-510},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0013527300004619},
isbn={978-989-758-754-2},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 2nd International Conference on Data Analysis and Machine Learning - Volume 1: DAML
TI - Enhancing Blockchain Security: An Analysis of Encryption Technologies and Future Directions
SN - 978-989-758-754-2
AU - Chang Y.
PY - 2024
SP - 506
EP - 510
DO - 10.5220/0013527300004619
PB - SciTePress