Blockchain technology has earned the trust of Governments and banks around the world. There is an urgent need for globally accepted security controls for secure blockchain implementations.
The PT-BSC (Primechain Technologies - Blockchain Security Controls) is a work-in-progress document that prescribes security controls for blockchain implementations. PT-BSC is maintained by Primechain Technologies Private Limited.
Introduction
Blockchain technology was announced through the paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" by Satoshi Nakamoto in 2008. Interestingly, this paper does not specifically use the word "blockchain".
This paper talks about a "purely peer-to-peer version of electronic cash" where "the network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work".
Blockchain technology and some implementations of distributed ledger technology have earned the trust of Governments and banks around the world. There is an urgent need for an accepted security framework for secure blockchain implementations.
The PT-BSC is a work-in-progress document that prescribes security controls for blockchain implementations. Many of the security controls are based on NIST Special Publication 800-53 Revision 4 and may also apply to distributed ledger systems.
Definitions
PT-BSC defines the terms blockchain, distributed ledger system and hash function.
(a) blockchain
A blockchain is a peer-to-peer network which timestamps records by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work.
(b) distributed ledger system
A distributed ledger is a peer-to-peer network, which uses a defined consensus mechanism to prevent modification of an ordered series of time-stamped records.
(c) hash function
A hash function is an algorithm mapping or translation of one sequence of bits into another, generally smaller, set known as hash-result such that an electronic record yields the same hash-result every time the algorithm is executed with the same electronic record as its input making it computationally infeasible to (i) to derive or reconstruct the original electronic record from the hash result produced by the algorithm; (ii) that two electronic records can produce the same hash result using the algorithm.
Components of a blockchain
PT-BSC considers the following 8 components of a blockchain:
- blockchain fabric e.g. bitcoin, multichain;
- blockchain instance e.g. a running implementation of hyperledger including the block data and block headers;
- blockchain nodes e.g. the servers on which a blockchain instance is installed;
- blockchain connectors e.g. a Macintosh laptop used to connect to the blockchain nodes through ssh;
- external interface e.g. a php based blockchain explorer or a java based wallet application;
- external database e.g. the SQL database that sits between the blockchain instance and the external interface;
- blockchain development ecosystem i.e. the technological ecosystem of the entities where the design, development, upgrade and maintenance of the blockchain takes place;
- blockchain user ecosystem i.e. the technological ecosystem of the end-users of the blockchain.
To request for a copy of the PT-BSC, please email info@primechain.in
