Strong and creative solutions to secure digital systems and data are becoming more and more necessary as cybersecurity threats increase in frequency and sophistication. Recently, a promising method for improving cybersecurity has arisen using blockchain technology, which is well known for its use in cryptocurrencies. With an emphasis on its advantages, disadvantages, and knowledge gaps, this study offers a thorough overview of the body of literature on the application of blockchain technology in cybersecurity. The article opens with an overview of the cybersecurity landscape and a description of blockchain technology, including its background and salient characteristics. The use of blockchain in cybersecurity is then thoroughly examined by doing a thorough literature review. The benefits of blockchain in dealing with cybersecurity issues are recognised and addressed. These benefits include immutable ledger, distributed architecture, consensus processes, smart contracts, transparency, decentralised governance, and identity management. However, analysis is also done on blockchain's shortcomings in dealing with cybersecurity issues, such as scalability, energy consumption, compatibility, knowledge, regulatory framework, smart contract vulnerabilities, and early expenses. Additionally, the evaluation of various consensus mechanisms, the creation of standardised protocols, and the investigation of novel applications are recognised and discussed as research gaps connected to blockchain in cybersecurity. The data gathering and analysis methods used in this study's research methodology are detailed in full. The study's findings are presented in the results and discussion section, which also explores how they relate to earlier works of literature. The main conclusions are outlined in the conclusion, along with suggestions for additional study in this field. Overall, this article offers a thorough analysis of blockchain's possible benefits and drawbacks in cybersecurity, identifies research gaps, and offers insights into these topics. The findings of this study can assist direct future research in this fascinating and quickly developing subject and provide information for the creation of successful blockchain-based cybersecurity solutions.