Blockchain Technology Redefining Cybersecurity

Blockchain came a decade ago, initially with the introduction of majorly Bitcoin and Ether in some areas. Known for its unique quality of being unbackable, Blockchain has evolved as a technology reinvented with its endless potential.

In 2017, the second quarter of blockchain companies and investors closed with nearly 60 initial coin offerings, making more than $750 million! The blockchain is spreading the hues to not just the financial industry but, rendering close to industries like education, social media, e-commerce and real estate! Coming to the connection to cybersecurity, blockchain offers a totally different approach for storing information, making transactions and performing valuable functions automatically.

How does Blockchain work?

Blockchain working mechanism goes too well with handling tons of data. A verified piece of data forms a block, which is needed to be added to the chain. The blockchain users then use their keys along with the powerful computing systems to run algorithms, it is stored in the chain and the data it carries goes into permanent existence, without being tampered or altered.

In case the owner wishes to make some changes in the database, he has to create a new block above the previous one, the smallest of the made changes will be recorded, the authorized person can always check out the previous data version irrespective of the number of new blocks created. Blockchain ensures that no data is lost ever!

Blockchain and Cybersecurity go hand in hand

No wonder, top companies are offering blockchain consulting services in addition to cyber security audit services. As the cybercriminals are attempting too high in data theft, it’s almost impossible to find absolute security in the digital world. The role of blockchain here is altering the approach altogether by being a decentralized, digitized and distributed ledger to help enhance cyber defense, it helps in preventing fraudulent activities via consensus mechanisms by detecting data tampering.

Blockchain doesn’t follow a centralized structure, in fact, it is a distributed database where every information is continuously stored as a new block every time either a change or new information is added, which in turn makes its existence absolutely unbackable and safe. The activity going on are visible to all with no hindrance possible.

No space for human errors

While using a blockchain technology, businesses can authenticate devices without a password, the process goes without the need of human intervention. In this case, blockchain processes with the help of a security system which provides each device with specific SSL certificate instead of a password, the data management is carried through the same way which makes it impossible for attackers to hack the database or put in fake certificates while authenticating.

The Blockchain is a new way to secure

In case an attacker wills to corrupt a blockchain, he needs to destroy the data stored on every user’s computer in the entire global network. This could be innumerable computers, every single one having a copy of the data, unless the hacker could simultaneously bring down the entire network which is practically impossible, he cannot succeed in erasing the entire data. The unaffected computers, also called nodes will keep on making records of the data on the network.

There will be a lot of impossibilities on the way to hack a blockchain network! Go secure with the technology implementation and experience a new way in regards to cybersecurity.