Blockchain Technology, Technical Challenges and Countermeasures for Illegal Data Insertion

Abstract

Blockchain is a decentralized transaction and data management technology. It was developed for the world's first cryptocurrency known as Bitcoin in 2008. The reason behind its popularity was its properties which provide pseudonymity, security, and data integrity without third-party intervention. Initially, most of the researches were focused on the Bitcoin system and its limitation, but later other applications of Blockchain e.g. smart contracts and licensing [1] also got famous. Blockchain technology has the potential to change the way how transactions are conducted in daily life. It is not limited to cryptocurrencies but could be possibly applied in various environments where any forms of transactions are done. This article presents a comprehensive overview of Blockchain technology, its development, applications, security issues, and their countermeasures. In particular, the security towards illegal data insertion and the countermeasures is focused. Our analysis of countermeasures of illegal data insertion can be combined for increased efficiency. After the introduction of the Blockchain and consensus algorithm, some famous Blockchain applications and expected future of Blockchain are deliberated. Then, the technical challenges of Blockchain are discussed, in which the main focus here is on the security and the data insertion in Blockchain. The review of the possible countermeasures to overcome the security issues related to data insertion are elaborated.

A Conceptual Foundation for Blockchain Development: The Contribution of Ibn Khaldun

“…This incident serves as a reminder to both the government and its population of the importance of defining a moral duty to follow the law (Laabdi, 2021). Henceforth, As a result, money laundering, terrorism financing, arms deals, the dark web, and drug and smuggling transactions are all major issues in blockchain applications (Aitsam and Chantaraskul, 2020). Moral legitimacy should be encouraged among blockchain developers, companies, and consumers in order to break down these obstacles in blockchain.…”

“…Similarly, Bitcoin has been linked to criminal operations such as black-market trades, money laundering, and other unlawful activity. Members of the public must comprehend the differences between bitcoin, cryptocurrencies, and blockchain before the total implementation can begin (Aitsam and Chantaraskul, 2020). This would help in the removal of recent bad Bitcoin claims, allowing the technology to disappear on its own.…”

Enhanced scalability and privacy for blockchain data using Merklized transactions

“…There are several ways in which data can be embedded on Bitcoin-like chains using the scripting language, and the use of these methods has grown substantially over time Bartoletti and Pompianu (2017). One of the primary motivations for including such data on the blockchain is that it creates an immutable record for the data, which can improve transparency for a wide range of applications by enabling reliable proofs of data integrity Bartoletti and Pompianu (2017); Sgantzos and Grigg (2019); Aitsam and Chantaraskul (2020).…”

“…Despite the compelling use case for embedding arbitrary, nonpayment data on the blockchain, the ability to do so has given rise to new problems and challenges. Most notably the inclusion of illicit data on the blockchain Zhang et al (2021); Aitsam and Chantaraskul (2020); Deuber et al (2019). These are cases where illegal or inappropriate data has been added to the ledger either for directly nefarious purposes or to undermine the credibility of the blockchain itself.…”

Implementation the Last Indonesian Minister Regulation of 2022 uses SEM-PLS and Blockchain-BIM to Green Cost Efficiency

“…Blockchain is a decentralized transaction and data management technology (Aitsam & Chantaraskul, 2020). Blockchain is a technology that allows the exchange of information and transactions between two or more participants through completely secure and immutable encryption (Daffa & Azizah, 2022).…”