How the Blockchain Revolution is Changing the Cybersecurity Industry
Thanks to the meteoric rise of Bitcoin, the quintessential cryptocurrency that made headlines all throughout 2017, more people than ever have heard of blockchain.
While blockchain certainly has its roots in cryptocurrency, it is also being explored for its potential outside of that particular arena. The technology is prized for its ability to increase security, thanks to its distributed ledger approach and the inability for records to be altered once they are created, making it a potential boon.
If you are wondering how the blockchain revolution is changing the cybersecurity industry, here’s what you need to know.
Would you commit a crime in front of a room full of bystanders? If your answer is “no,” then you are probably like most people in the world.
While that question may seem silly, it actually reflects one of the cybersecurity benefits blockchain may have to offer. Since the distributed ledgers associated with blockchain aren’t under the control of a single agency and can be accessed by all involved parties, attempting to commit a cybercrime in the system means you are potentially exposed to everyone with access, particularly since logs cannot be altered once they are created.
The technology, in this regard, functions as a deterrent against certain kinds of crime, making those who may be tempted to try something a bit more reluctant to act.
Improved Data Integrity
Since all transactions recorded on a blockchain ledger are viewable by the involved parties and are essentially unalterable once created, it is easier to put your trust in what the data has to say. Ultimately, it is exceedingly hard to tamper with one of these distributed ledgers, providing cybersecurity systems with new approaches for maintaining a solution’s integrity.
Use of Decentralization
Nearly everyone has heard of how damaging a distributed denial of service (DDoS) attack can be to a business. While blockchain doesn’t eliminate the threat, it does have the potential to render it effectively useless.
A DDoS works because most systems are centralized, meaning the data is contained in one place or system. Blockchain functions predominately on a decentralized distributed database, with various nodes and blocks spread out across numerous systems. An attack on a single node isn’t going to bring the entire system down, as the technology can often route around the issue, making these sorts of attacks incredibly less effective than in days past.
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