ABSTRACT
In this chapter, we will research the number of technical aspects of blockchain technology, the pace at which this technology is booming, and, most importantly, its implementation on the Bitcoin cryptocurrency, which has revolutionized the financial infrastructure of the world. We will also consider a number of security concerns, challenges, and other technical vulnerabilities associated with the Bitcoin technology. The decentralized mechanism, distributed mechanism, scripted mechanism, and the password related to blockchain have opened a new view on the rapidly developing Internet technology. There is no need for participants or any third party to know each other. The responsibility is included in the recording, transmission, and activities regarding storage by distributed technology. That is how the assurance is guaranteed by keeping these aloof from tampering and forging. With the assistance of an asymmetric cryptographic algorithm, every participant can reach a consensus on the blockchain's information. Blockchain technology can play a key role in the case of information security technology. Hence, in this chapter, we will also cover the impact of blockchain to expand the sphere of information security.
