Analysis and justification of the use of existing blockchain solutions for the protection of digital assets
DOI:
https://doi.org/10.30837/ITSSI.2024.27.164Keywords:
blockchain; cyber security; digital assets; anonymity; confidentiality; speed of transactions; standardization; regulation.Abstract
The subject of this article is consideration of modern blockchain solutions and their potential use in the context of digital asset protection. Various aspects of blockchain technology are explored, including consensus mechanisms, security levels, and functionality. The goal of the work is a systematic analysis and justification of the application of various blockchain solutions for the protection of digital assets. The article is aimed at determining the effectiveness and feasibility of using specific blockchain protocols and their functional elements to ensure the safety, reliability, and integrity of digital assets. The following tasks were solved in the article: consideration of modern blockchain technologies and consideration of their role in ensuring the security of digital assets. Conducting a detailed analysis of popular blockchain protocols, including Bitcoin, Ethereum, and Hyperledger Fabric, with a focus on their security against various types of cyber threats and attacks. The following methods are used: analysis of blockchain protocols, expert evaluations of the effectiveness of protection of digital assets, and study of the technical features of each solution. The following results were obtained: clearly defined advantages and disadvantages of each protocol were obtained, taking into account their applicability in the field of digital assets in various fields of application, such as semantic analysis of texts, E-Learning, Big Data, DDP-systems, finance, etc. In addition, the issue of network privacy in the context of information protection was investigated and justifies the choice of the optimal blockchain solution for a specific use. Conclusions: The article provides readers with an overview of how to effectively use blockchain to ensure the reliability and security of digital assets in a variety of usage scenarios. In today's digital world, where the value of digital assets is growing exponentially, protecting them from cyber threats becomes a critical task. Blockchain technologies, originally developed for cryptocurrencies, have gained recognition as an effective tool in the field of cyber security. The importance of standardization and regulation in the field of blockchain technologies to ensure their effective integration and compliance with the requirements of the law is put forward.
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Ratna, S. et al. (2023), "Digital transformation in tourism and hospitality industry: a literature review of blockchain, financial technology, and knowledge management", EuroMed Journal of Business. DOI: https://doi.org/10.1108/emjb-04-2023-0118
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Du, W. et al. (2022), "Blockchain technology-based sustainable management research: the status quo and a general framework for future application", Environmental Science and Pollution Research. 2022. Vol. 29. No. 39. P. 58648–58663. DOI: https://doi.org/10.1007/s11356-022-21761-2
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Tereshchenko, G., Gruzdo, I. (2018), "Overview and Analysis of Existing Decisions of Determining the Meaning of Text Documents". 2018 International Scientific-Practical Conference Problems of Infocommunications, Science and Technology (PIC S&T). P. 645–653, Art. No. 8632014. DOI: https://doi.org/10.1109/INFOCOMMST.2018.8632014
Shubin, I., Karataiev, O. (2023), "Reuse of information based on the interpretation of knowledge". Innovative technologies and scientific solutions for industries. Vol. 2 No. 24. P. 62–71. DOI: https://doi.org/10.30837/itssi.2023.24.062
Sharonova, N., Kyrychenko, I., Tereshchenko, G. (2021), "Application of big data methods in E-learning systems". 5th International Conference on Computational Linguistics and Intelligent Systems. 2021. (COLINS-2021), CEUR-WS. Vol. 2870. Р. 1302–1311. available at: https://ceur-ws.org/Vol-2870/
Kozyriev, A., Shubin, I. (2023), "Method of planning data processing tasks in distributed systems with limited information about available resources". Innovative technologies and scientific solutions for industries. No. 3 (25). P. 27–39. DOI: https://doi.org/10.30837/ITSSI.2023.25.027
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Wasiq, M. et al. (2023), "Adoption and Applications of Blockchain Technology in Marketing: A Retrospective Overview and Bibliometric Analysis". Sustainability (Switzerland). Vol. 15. No. 4. 3279 р. DOI: https://doi.org/10.3390/su15043279
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Gad, A. G. et al. (2022), "Emerging Trends in Blockchain Technology and Applications: A Review and Outlook", Journal of King Saud University-Computer and Information Sciences. Vol. 34. No. 9. P. 6719–6742. DOI: https://doi.org/10.1016/j.jksuci.2022.03.007
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Suslenko, V. et al. (2022), "USe of cryptocurrencies bitcoin and ethereum in the field of e-commerce: case study of Ukraine". Financial and Credit Activity Problems of Theory and Practice. Vol. 1 No. 42. P. 62–72. DOI: https://doi.org/10.55643/fcaptp.1.42.2022.3603
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