The Emergence of Cryptography in Blockchain Technology

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Author(s): Tanuj Surve (University of California, Berkeley, USA)and Risha Khandelwal (JECRC University, India)
Copyright: 2023
Pages: 17
Source title: Concepts, Technologies, Challenges, and the Future of Web 3
Source Author(s)/Editor(s): Pooja Lekhi (University Canada West, Canada)and Guneet Kaur (University of Stirling, UK & Cointelegraph, USA)
DOI: 10.4018/978-1-6684-9919-1.ch004

Keywords: Computer Science & IT / Engineering Science Reference / Web Technologies / Web Technologies & Engineering

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Abstract

This chapter explores the evolution of cryptography in blockchain technology, studying its significance, challenges, and implications. It analyzes the various cryptographic algorithms employed in blockchain systems, emphasizing their significance in ensuring transaction security and anonymity. The chapter looks at the challenges of using cryptography in blockchain, such as scalability, key management, and the arrival of quantum computing. It also looks at how cryptography has influenced the emergence of cryptocurrencies and smart contracts. It also examines current cryptographic trends and their possible impact on blockchain security, highlighting the importance of using best practices while implementing cryptography in blockchain systems. Overall, this chapter presents a detailed review of the critical role that cryptography plays in maintaining blockchain technology's integrity, privacy, and trustworthiness.

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