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JNB330 Supply Chain Management

tag 0 Download 19 Pages / 4,735 Words tag 05-07-2021


This area in blockchain appears to be the main central attribute that makes the blockchain an area of tremendous interest according to (Yli-Huumo et al. 2016), based on its original development of handling and supporting crypto-currency, this technology can be used for any form of financial transaction without any intermediary Be that as it may, despite the fact that Blockchain is by all accounts an appropriate answer for leading transactions by utilizing digital forms of currencies, it has still some specialized difficulties and constraints that need to be studied and addressed this includes high transactional integrity and most especially security, and additionally protection of blockchain nodes are expected to counteract attacks and attempts to aggravate transactions in Blockchain. Presently this Application has a probability of a 51% attack, in a 51% attack, a single entity will basically have full control of most of the system's mining hash-rate and would have the capacity to control Blockchain, to conquer this issue, a more detailed and thorough research on its security is more than necessary. 

Supporting the above information, (Biswas and Muthukkumarasamy 2016) stated that for a security breach or attack to happen, it will require the attacker to compromise more than 51% of the systems to exceed the hashing power of the target. Similarly, most studies, according to (Luu, Narayanan, et al. 2016) have also shown that a number of practical attacks on the transactional powered blockchain tend to leverage on the technologies network and consensus weaknesses. In addition to that, (Aitzhan and Svetinovic 2016) also mentioned that one of the reasons why security is a main issue with the current blockchain technology is that it provides just one single point of failure, which as a key component of a centralized network can cause major disturbance of authentication and payments activities which leads to the obstruction of data availability and integrity. Described the problems and I need you to expand the problems by supporting and contradicting factors.  
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Total 19 pages

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