Trust Chain: A private Blockchain for secure data exchange

Abstract

In the current digital landscape, secure, efficient, and decentralized systems to manage sensitive data are crucial. TrustChain, a private blockchain framework, addresses these needs by enabling secure data exchange among verified users. This research investigates developing and deploying a private blockchain platform to facilitate secure data sharing within a decentralized peer-to-peer (P2P) network. Unlike public blockchains, this system restricts access to authorized participants, enhancing security and network management. The study evaluated the blockchain system with 3-node and 10-node configurations, focusing on data synchronization efficiency and latency. Asymmetric encryption (RSA) was used to ensure message confidentiality and integrity. Testing revealed insights into the system's scalability and security, demonstrating stability and efficient data synchronization with low latency. However, the system lacks transaction processing capabilities, making it unsuitable for financial applications but robust for secure data transfers. The architecture provides a foundation for enhancements, potentially expanding into secure messaging and file sharing. The research concludes that private blockchain technology is effective for secure data transfers, suitable for applications prioritizing secure communication over financial transactions. Future work could integrate transaction capabilities. The findings suggest TrustChain's potential applicability in sectors like healthcare, finance, and supply chain management, where secure data exchange is critical. This study underscores the importance of scalability and robust data management in blockchain systems, particularly for real-time applications, and highlights the need for efficient and reliable blockchain solutions in data-sensitive industries.