Security Preservation in Blockchain

A blockchain is a distributed database shared among a computer network’s nodes. Distributed peer-to-peer architecture introduces major disruptions to traditional operations by decentralising governance by creating a secure design that does not require trusted third parties to establish transactional relationships between two parties. Blockchain provides trust between stakeholders and improves the reliability of data and the immutability of agreed transactions. By being decentralised, Blockchain is less vulnerable to attacks and helps to improve data privacy and pseudo-anonymity of participants. Blockchain technology ensures legal certainty via smart contracts and digital assets. As blockchain-based cross-border services proliferate, the importance of cybersecurity considerations within Blockchain Application Development will continue to increase.

Security Preservation in Blockchain ensures increased reliability, trustworthiness, and security of Blockchain technology, vital technological issues must be addressed, demonstrated and validated. Some of these include loopholes in mutual-trust building mechanisms through smart contracts, verification of resilient cryptographic implementations utilised in cryptocurrency wallets, privacy-protecting techniques for reliable user data transmission and management, analysis of the transaction-information hiding techniques, blockchain-based security designs leveraging provided properties and identity management within Self-sovereign Identity Framework and introduction of secure multiparty signatures (to mitigate the impact of supply-chain attacks and security bugs).

Strategic Priority

• Illustrate the state of the art use of blockchain in the vehicular communication environment.
• Develop building blocks for hardware wallets with multiparty computation (MPC).
• Demonstrate that blockchain can be used to manage traffic signals for emergency vehicles.

Pilot Research

• Secure consensus for Intelligent Vehicular Communication.
• Emergency Information transmission using blockchain in Intelligent Vehicular Communication.
• Blockchain-related operations are protected by cryptographic hardware with MPC.