SECURITY AND PRIVACY IN CRYPTOVALUTA TRANSACTIONS: AN ANALYSIS OF THE LITERATURE ON BLOCKCHAIN TECHNOLOGY
Abstract
Blockchain technology has revolutionised many industry sectors, including finance, through the introduction of cryptovaluta. While it offers significant transparency and decentralisation, it also raises serious challenges related to security and privacy. This article analyses the existing literature to evaluate various aspects of security and privacy in cryptovaluta transactions. The transparency of blockchain, while increasing trust, may result in the risk of disclosure of user identity and transaction details. Advanced technologies such as zk-SNARKs and CoinJoin have been developed to address this issue, enabling the scrutiny of transactions without revealing sensitive information. The security of blockchain networks, while inherently robust, remains vulnerable to attacks aimed at individual users and exchange platforms. Digital wallet theft, phishing attacks, and vulnerabilities in smart contracts are some of the significant risks. The article also emphasises the importance of user education to recognise and address these risks. By combining more advanced security technologies with increased user awareness, it is hoped that an optimal balance between transparency, privacy, and security can be achieved in the cryptocurrency ecosystem.
Downloads
References
Aalders, A. (2023). Cultivating Organizational Excellence. Management for Professionals, Query date: 2024-12-25 09:37:59. https://doi.org/10.1007/978-3-031-26289-0
Agdere, K. (2024). Analyse van de effectiviteit van de MICA-verordening, een Europees juridisch kader voor cryptocurrencies. Query date: 2024-12-25 09:37:59. https://documentserver.uhasselt.be/bitstream/1942/44028/1/4a46adb1-2963-4c62-8d52-11e8e49e3ca9.pdf
Bruschi, D., Rusconi, D., & Zoia, M. (2022). La diversificazione delle tecnologie blockchain. Osservatorio Del Diritto Civile e ..., Query date: 2024-12-25 09:37:59. https://doi.org/10.4478/106697
Callens, E. (2021). Financial instruments entail liabilities: Ether, bitcoin, and litecoin do not. Computer Law &Security Review, Query date: 2024-12-25 09:37:59. https://www.sciencedirect.com/science/article/pii/S0267364920300996
Campo, A. (2021). Blockchain, NFT &Crypto Art Stato dell'arte di una nuova tecnologia, approcci e sviluppi= Blockchain, NFT &Crypto Art State of art of a new technology, approaches .... webthesis.biblio.polito.it. https://webthesis.biblio.polito.it/20545/
Cornelis, N. (2023). Blockchain en GDPR. documentserver.uhasselt.be. https://documentserver.uhasselt.be/handle/1942/40925
Gerlings, J., & Constantiou, I. (2022). Machine Learning in Transaction Monitoring: The Prospect of xAI. arXiv Preprint arXiv:2210.07648, Query date: 2024-12-25 09:37:59. https://arxiv.org/abs/2210.07648
Giordano, A. (2021). La blockchain per lo sviluppo reale. Esperienze d'Impresa, Query date: 2024-12-25 09:37:59. https://doi.org/10.57570/104714
Gippini, S. (2022). Marketing e nuove tecnologie nel settore moda: Perché vengono utilizzate dalle aziende? Query date: 2024-12-25 09:37:59. https://tesi.supsi.ch/4694/1/Gippini_Sara_Tesi_Bachelor.pdf
Grosemans, A. (2022). Analyse van de intentie tot het gebruik van cryptocurrency. Query date: 2024-12-25 09:37:59. https://documentserver.uhasselt.be/bitstream/1942/38435/1/0f0daf16-4326-4dd3-8835-57c7e272d040.pdf
Henckel, K. (2023). Issues of conflicting laws-a closer look at the EU's approach to artificial intelligence. Nederlands Internationaal Privaatrecht, Query date: 2024-12-25 09:37:59. https://research.rug.nl/files/703737216/2023-12.pdf
Iovane, G., & Rapuano, A. (2021). Analisi dei requisiti per infrastruttura Blockchain in ottica di scalabilità e decentralizzazione. Query date: 2024-12-25 09:37:59. https://www2.enea.it/it/Ricerca_sviluppo/documenti/ricerca-di-sistema-elettrico/adp-mise-enea-2019-2021/tecnologie-per-la-penetrazione-efficiente-del-vettore-elettrico-negli-usi-finali/report-rds_ptr_2020_029.pdf
Lia, F. D., Schioppo, R., Presti, R., Pizzuti, S., Romano, S., & ... (2021). Implementazione delle logiche di gestione per gli smart building di seconda generazione. Query date: 2024-12-25 09:37:59. https://www2.enea.it/it/Ricerca_sviluppo/documenti/ricerca-di-sistema-elettrico/adp-mise-enea-2019-2021/tecnologie-per-la-penetrazione-efficiente-del-vettore-elettrico-negli-usi-finali/report-rds_ptr_2021_008.pdf
Macchia, L., & Giugno, A. (2022). Cryptovalute: Inquadramento fiscale del fenomeno e potenziali usi pathologici. torrossa.com. https://www.torrossa.com/it/resources/an/5445193
Mattassoglio, F. (2021). Le proposte europee in tema di crypto-assets e DLT. Prime prove di regolazione del mondo crypto o tentativo di tokenizzazione del mercato finanziario .... Rivista Di Diritto Bancario, Query date: 2024-12-25 09:37:59. https://boa.unimib.it/bitstream/10281/317607/1/mattassoglio_Riv.%20diritto%20bancario%202021.pdf
Micheletti, I. (2020). Art-Tech: Blockchain come opportunità di valorizzazione partecipata. dspace.unive.it. http://dspace.unive.it/handle/10579/18311
Milan, L. (2022). Blockchain: La spina delle criptovalute e del web 3.0. dspace.unive.it. http://dspace.unive.it/handle/10579/22375
Mintas, I. (2023). De belastingheffing op inkomsten uit cryptocurrencies in het Belgische fiscaal recht. documentserver.uhasselt.be. https://documentserver.uhasselt.be/handle/1942/40960
Mooij, A. (2023). Currency (Layering). ... to Prevent Money Laundering and the Financing of ..., Query date: 2024-12-25 09:37:59. https://doi.org/10.1007/978-3-031-46417-1_6
Muciaccia, N., & Lopopolo, S. (2022). A First Glance at the Relationship between NFTs and Intellectual Property. Orizzonti Del Diritto Commerciale, Query date: 2024-12-25 09:37:59. https://heinonline.org/hol-cgi-bin/get_pdf.cgi?handle=hein.journals/oidldoco2022§ion=46
Sabry, F. (2021). Gedecentraliseerde Financiën: Het apocalyptische evenement voor de traditionele financiële instellingen. books.google.com. https://books.google.com/books?hl=en&lr=&id=qJSLEAAAQBAJ&oi=fnd&pg=PT578&dq=security+privacy+cryptovaluta+transactions+blockchain+technology&ots=J4TBCeyJJJ&sig=3EbcZDEwXWgV_of2s7B2xW345DE
Sanusi, I. (2015). Bridging Qualitative and Quantitative Research. Journal of Da'wah Science,4 (13), 409-409. https://doi.org/10.15575/jid.v4i13.400
Sartori, J. (2020). Il mobile payment e il suo impatto sull'ecosystema del settore dei pagamenti. dspace.unive.it. http://dspace.unive.it/handle/10579/18090
Syafril, S., & Erlina, N. (2018). Preparing Interview Protocols, Selecting Informants and Probing in Qualitative Research. Query date: 2024-05-25 20:59:55. https://doi.org/10.31219/osf.io/pvsh3
Veuger, J. (2020). Blockchain Convergentie ... Een Nieuwe Economie En Samenleving Met Blockchain, Query date: 2024-12-25 09:37:59. https://www.saxion.nl/binaries/content/assets/onderzoek/meer-onderzoek/blockchain/blockchain-convergentie-jan-veuger-2020.pdf
Victor, O. (2021). An Evolution on How Countries Tax Virtual Currencies: Is There a Consensus Evolving. search.proquest.com. https://search.proquest.com/openview/da147ba927088bf7ac47fc84a06c16f3/1?pq-origsite=gscholar&cbl=2026366&diss=y
Wekke, I. S. (2020). Qualitative Research Design. Query date: 2024-05-25 20:59:55. https://doi.org/10.31219/osf.io/4q8pz
Published
Versions
- 2025-01-01 (2)
- 2024-12-25 (1)
Issue
Section
License
Copyright (c) 2024 INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS (IJEFE) © 2024 by Adisam Publihser is licensed under CC BY-SA 4.0
