Enhanced Cyber Logic: A Robust Design of Identity based Encryption Mechanism to Secure Data using Blockchain Technology

Homomorphic encryption stands as a transformative cryptographic technique, enabling computations on encrypted data sans decryption, a critical feature within privacy-preserving blockchain frameworks. Its integration mitigates the inherent security vulnerabilities of traditional blockchains, safeguarding sensitive data from exposure. Through identity-based encryption (IBE), key generation becomes not only secure but also user-friendly, streamlining access control. Smart contracts automate key distribution, bolstering security while dynamic key generation ensures resilience against potential attacks. Storing encrypted data on the blockchain guarantees confidentiality, with selective data sharing mechanisms offering granular control over information dissemination for collaborative purposes. Privacy-preserving transactions, facilitated by homomorphic operations and zero-knowledge proofs, maintain transactional confidentiality. Effective revocation and key renewal mechanisms further enhance the system’s security posture. Scalability and efficiency are significantly bolstered through the adoption of off-chain computations and batch processing strategies.