BIG DATA SOURCE FOR BLOCKCHAIN

As discussed above in detail about the blockchain in the above section, to give a precise description, blockchain refers to a time-stamped series of data that is supervised by a group of computers and specifically not possessed by any single entity. As far as security is concerned, each block of data is said to be secured via cryptographic mechanisms. On the other hand, big data refers to the data sets that are bound to be complex for conventional type of data processing software [6-9]. Despite data with several rows ensure greater statistical power, however, data with higher complexity, i.e., involving more columns results in higher amount of false discovery rate. Figure 1.7 shows the conceptual diagram of Big Data and Blockchain.

As shown in Figure 1.7, the reason behind the successful relationship between Big Data and Blockchain is that the blockchain easily addressed the drawbacks of big data. Some of the reasons are:

  • • Decentralization
  • • Transparency
  • • Immutability
Conceptual diagram of big data and blockchain

FIGURE 1.7 Conceptual diagram of big data and blockchain.

Decentralization: The data stored in a blockchain is not said to be owner by single entity. Hence, there is not probability of data or information getting lose if that entity is said to be compromised. The conventional way of data storage before the existence of Bitcoin was found to be centralized services. Here, the entity was found to be centralized that stored all the information pertaining to all the users in the network. Alternatively, while retrieving the information, this entity was said to be contacted whenever required with information, i.e., conventional banking system. In case of the decentralized system, the information is not stored at a single entity; on the other hand, every user in the network possesses his/her information. To perform communication with another user, it can be done directly, without the requirement of a third party or via another entity.

Transparency: The transparent framework of the blockchain assists in tracking the data back to its point of origination. Yet another interesting fact about the Big Data and Blockchain convergence is transparency. The person or the users’ identity is said to be hidden by utilizing the complicated cryptography mechanism and described only via public address. Hence, while the users’ real identity is secured, the transactions that were performed via the public address are only said to be viewed.

Immutability: Finally, immutability, in the framework of the blockchain refers to that once some transactions have been entered into the blockchain framework, the transactions are not said to be damaged or destroyed with. The reason behind immutability in blockchain is that of the application [10] of cryptographic hash functions. By applying this function, an input string of any length is obtained as input and producing an output of a definite length. As far as cryptocurrencies like Bitcoin are concerned, the transactions occurring through digital ledger are considered as input, processed via a hashing algorithm, resulting in a fixed length output.

Blockchain and Big Data to Secure Data

The technology combining Blockchain and Big Data assists in safeguarding the data from possible data leaks. With the information being stored on the channel, or blocks, even the most senior executives do not have the access to retrieve the information provided multiple permissions are obtained from the network to access the big data. Hence, it becomes highly complex and complicated from a cybercriminal point of view to seize it.

This is because of the reason that instead of uploading the big data or information to a database server or to a cloud server, blockchain subdivided into finite number of chunks and distributes them across the entire network of computers. In this way, the presence of middleman or third party is avoided for processing a transaction. Therefore, instead of placing the trust on a service provider, decentralization is said to be achieved or ensured via immutable ledger. Besides, the big data in blockchain is said to be in the encrypted form. Hence, it is said to be highly secured.

Blockhain and Big Data Technologies for Data Analysis

Blockchain as referred to above as a digital and decentralized public ledger that records transactions across several machines linked in a peer-to-peer network basis. Though it was originally designed for cryptocurrency assets involving Bitcoin; however, in the current years it has been used for several purposes. Apart from the above said applications, blockchain also possess large amount of potentiality in analytics.

Several business establishments have started benefiting from data analytics for several years. One type of data analytics that is assured to revolutionize and metamorphose the industry is predictive analytics. Predictive analytics is concentrated on performing the predictions about the future course of actions on the basis of an immense amount of historical data as well as mechanisms using machine learning techniques.

Besides, with data analytics concern, the computational power of blockchain is possessed from collective associated computers. Hence it is said to be strong enough to precisely design the model to be examined on the basis of larger and enormous amount of datasets, stored across the computers and therefore the network and pull up the ones that can provide the answer. As for potential applications, blockchain analytics are found to be of heavily applicable in the area of marketing, i.e., digital marketing. In this way, even digital marketers could be able to prepare for future marketing advertisements with the assistance of data obtained from market realities.

Blockchain for Private Big Data Management

Blockchain for private big data management is one of the main ways in which block- chain set itself from the conventional models of mechanisms that are frequently used today. No identity are said to be required in the network layer for blockchain. This means that not name, email id, address, or any other information pertaining to the user is required to download the information and the technology is started for utilization.

In other words it refers to that there requires or possess no third party of central server to store the users’ information, making blockchain technology significantly more secure than a centralized server being used that can be easily cracked, putting its users’ most sensitive data at risk. However, blockchain specifically increases the data analysis transparency. This is designed in such a manner that if an entry or

Conceptual diagram of security for blockchain

FIGURE 1.8 Conceptual diagram of security for blockchain.

transaction is not said to be verified, it is rejected in an automatic manner. Hence, the big data stored in blockchain is said to be highly and entirely transparent [11].

Confidentiality, Data integrity, and Authentication

Security concerns in blockchain for big data management are studied from the data confidentiality, data integrity and data authentication point of view. Figure 1.8 shows the conceptual diagram of security concerns in blockchain.

Data Confidentiality

This refers to the process of information hiding. It is performed with the purpose of hiding information in such a manner that only the intended recipients view' the data or information provided by the provider. Data confidentiality is said to be attained by utilizing several data encryption mechanisms available in the industry and also through key pair models.

Data Integrity

This refers to the process of ensuring that the data transmitted from the source machine or user to the destination machine or user is invariable by all means. The data could be stopped in during the passage from the source machine or user to the destination machine or user and also can be altered. Nowadays, data integrity are said to be performed via by fingerprinting mechanism so that the destination machine or user could approve that the data or information is not changed.

Data Authentication

This refers to the process of ensuring that the data provider is obviously the provider of data. Therefore, the data provider should be authenticated in such a manner that the source machine or the sender bluffing to be the source machine would not be able to fake the communication.

Security Management Scenario for User Big Data in Blockchain

In this section a security management scenario for user big data in blockchain environment is provided. The scenario presented in Figure 1.9 combines several users controlled by Bigchain, the third parties inclined to access the information pertaining to private provided by blockchain users, around the blockchain infrastructure that is going to provide secure access to the data controlled by end users.

Security management scenario for block user data in blockchain

FIGURE 1.9 Security management scenario for block user data in blockchain.

As given in the above scenario, end users of blockchain environment administer their own security key. The security keys are generated using several cryptographic mechanisms to be provided to the blockchain users. Besides, generating security keys for blockchain users, credentials are also said to be generated for the third parties so that the data is said to be accessed under strict access control. Both credentials and security key are then translated to the blockchain environment so that rules defined by the end user with respect to storage of data and accessing of data is said to be ensured in a smooth manner [12-16].

The devices in blockchain in turn utilizing the security keys in turn store the information into the blockchain. Finally, the end users feed the blockchain with specific and relevant information, wherein the smart contract are then applied by applying restrictions based on the security factor corresponding to each blockchain user to store and retrieve data. Besides, the third party on the other hand, requesting authorization for the corresponding end user for utilizing private data can in turn access those data stored in the blockchain.

 
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