Data Security using Blockchain Technology

In recent years, blockchain technology has gained considerable attention. A blockchain is a public ledger of transactions or events recorded and stored in chronologically- and linearly-connected blocks. Later blocks maintain the hash code of previous blocks. It records cryptographic transactions in a public ledger or book that is difficult to alter and compromise because of the distributed consensus. As a result, blockchain is believed to resist fraud activities and hacking. Although blockchain technology resists several types of malicious attacks and reduces many associated risks, it does not eliminate all attacks. Its preventative mechanisms (e.g., distributed consensus, cryptography, and anonymity) may impair its resistance to some types of frauds and maliciousness. In this project, we use blockchain technology in file transfer system. Since blockchain provides only the authentication, we intend to provide confidentiality to the data by encrypting it with the encryption algorithm, AES before hashing. Thereby, we can ensure the security of data and can make it trustworthy for the users.