How is blockchain technology revamping cybersecurity?
Technically speaking, Blockchain has revolutionized the cybersecurity process and has considerably made it harder for cyber terrorists to tamper with critical data. In this article, Maria Thomas explores two major functions of Blockchain technology that aid cybersecurity.
In 2008, Satoshi Nakamoto coined the Blockchain technology. So how is it different from other databases? Blockchain is an online directory that assists a user, irrespective of his location. Globally, various financial institutions and governments are operating it for a variety of purposes. Blockchain assists in storing valuable information across a network comprising of personal computers. The information is stored in an assortment of records which are used by millions of users globally. All users have access to view it but do not have the ability to edit it. Blockchain uses cryptography to accomplish this. For this reason, the records cannot be manipulated by any user.
Blockchain technology is popular across various platforms. It ensures wide scalability which guarantees and assures that it reaches a wide network of peers. It is pretty flexible in terms of durability and the records stored in its database are immune to any data tampering. Transactions done through Blockchain are far more secure and safe due to cryptography. With the help of this technology, millions of users are able to communicate conveniently with each other beyond geographical terrains.
How Blockchain technology offers solutions to tackle cyber threats
With the evolution of Blockchain, cyber threats can be done away with ease. This technology is under constant refinement and over the years it has gained momentum as a secured barrier to obstruct security breaches. Technically speaking, Blockchain has revolutionized the cybersecurity process and has made it considerably harder for cyber terrorists to tamper with critical data.
Let’s explore two major functions of Blockchain technology that aid cybersecurity:
- Helps safeguard identities
Blockchain technology helps to protect the users’ identities by enhancing the security thread and blocking any advances from hackers in the authentication process. Many organizations resort to using this technology to upgrade their security processes and protect their internal data from being intruded. Various industry experts are vouching for this new trending technology to avert security threats.
- Prohibits data tampering
Blockchain has rendered PKI (Public Key Infrastructure) as outdated. Cryptography complies with this technology and helps prevent manipulation of data to a considerable extent. With the help of this technology, it has become easier to track data tampering by hackers.
What is the future of cybersecurity with Blockchain technology?
With the kind of security that the blockchain technology renders, it is likely to gain even more momentum. It guarantees the protection of various governmental units, business organizations and millions of users from possible attacks. It acts as a shield against network intrusion. This innovative technology is gradually becoming a major component to enhance the cybersecurity layers and protect the vulnerabilities of a majority of organizations. The encryption technology in Blockchain assures an end user with end-to-end privacy and transmission of crucial information smoothly.
Many information security professionals and cybersecurity experts of multinational corporations and governmental units are eager to implement this technology on their internal servers and network. They are keeping a close eye on Blockchain technology and its development over time. With the advent of this technology in cybersecurity, we are heading towards a bright and secure environment where data infringement would tend to become a bygone affair.
Global companies like Google and SoftBank are exhibiting a keen interest in Blockchain technology. Japan’s SoftBank plans to invest $880 billion in various upcoming technologies, including Blockchain and the Internet of Things (IoT). We can safely say that the day is not far when Blockchain will be used by even small organizations on a massive scale. It will become an indispensable player in the market and play an integral role in our lives, thereby protecting us from malicious cyber attacks and virtual intervention.