How Blockchain Could Improve Data Security

The increase in the use of internet and technology has presented new business models and revenue streams for the organisations, but the new signs of hacking opportunities have also raised with this advancement.

Will Blockchain be a Saviour or Hindrance?
The increase in the use of internet and technology has presented new business models and revenue streams for the organisations, but the new signs of hacking opportunities have also raised with this advancement.
These days, attackers are increasingly active and breach into sensitive information such as financial data, customer details, identity, intellectual property etc. Hackers are leveraging advanced attacking techniques like DDoS, XSS, SQL injections, Malware etc., for getting into the victim’s system.

Will Blockchain be a Saviour or Hindrance?

A blockchain is a decentralised public ledger which maintains the record of each transaction. The best part is there is no intermediate involved in the transaction, so it is termed as a smart contract. It is a distributed ledger technology which could help to achieve cyber security as this platform monitors each activity with its incredible capability of data encryption, transparency and resilience. 

Blockchain eliminates the major issue encountered between the counter parties that is ‘lack of trust’. The data generated from each process is stored in a block, and every block is connected to the front block. The distributed quality of blockchain saves it from outsiders interruption or a central point of failure. So, it presents an enhanced model compared to the traditional database-driven transnational model. A blockchain course available accessible over the internet allows you to explore the core structure and working of the hyper ledger and multi chain block chain platform. Till then, let's watch out how it is influencing cyber security.

Importance Of Blockchain Technology In Enhancing Cyber-Security

- Decentralised Storage

One primary benefit of blockchain is that users can store their sensitive information over the network in their local machine, i.e., they can earn money by renting extra storage. Suppose if a hacker tried to tamper a block from storage, the machine would analyse each block to recognise anomaly. If the machine detects for any change in a block, it unchains the block from the system marking it as false. The core structure of the blockchain is designed as there is no main authority or storage location. Each user over the network is part of the chain, and it's their responsibility to verify the stored information. 

- Encryption and Validation 

Blockchain verifies for each single details stored in the blocks. Every data here is encrypted, and one can detect for the altered data. The distributed nature of blockchain allows you to verify all the file signatures around all ledgers on network nodes. Thus, it verifies for the made changes. Suppose if any intruder change a record on the block then the signature becomes invalid. 

- Abolishing Human from Authentication

Companies are now providing security to their devices and users by eliminating password with blockchain. Thus, it eliminates the human intervention from the authentication, which was also a potential source for the attack. The centralised infrastructure with a simple user login in the traditional system was facing several kinds of cyber threats. Organisations were spending a huge amount on security, but all these efforts were getting wasted as it is easy to steal the authentication details of the user. 

In blockchain, a security system is provided with the distributed public key infrastructure to protect users information and devices. All the devices are leveraged with a special SSL certificate replacing the password for authentication. These certificates are managed virtually on the blockchain, so it is impossible to create the same fake certificates.

- Prevention from DDoS Attack

Blockchain technology achieves the fully decentralised DNS by distributing its data over the various nodes. So it will become nearly impossible for hackers to attack. The rights and authentication credentials are only granted to the domain owner or other users who need it. Thus, it reduces the risk of data accessibility by an unwanted or unauthorised person. Blockchain can ensure whether the system is vulnerable to attackers until each node is not cleaned. Few organisations have already used the blockchain technology to save themselves from DDoS attacks. If the blockchain is implemented in the current DNS system, any user can register with the domain names but only an owner will granted permission to change those domains. As the data is stored over the various nodes and each person will have a clone of the data on the blockchain, so it’ll become almost impossible to break such security. 

Thus, Block chain has emerged as the best security solution for organisations. In today’s business, a lot of work has been performed to leverage the benefit from this technology. In retail, banking, supply chain, IT everywhere the use of block chain has increased.

Read NextBlockchain Technology | Its Contribution To Africas Cyber-Security

About The Author

This is a guest post from Rohan Kumar, a blogger in Noida. He is an expert in digital marketing.

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Information Guide Africa: How Blockchain Could Improve Data Security
How Blockchain Could Improve Data Security
The increase in the use of internet and technology has presented new business models and revenue streams for the organisations, but the new signs of hacking opportunities have also raised with this advancement.
Information Guide Africa
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