A Tour of Current Blockchain Exploits in Cybersecurity

A Tour of Current Blockchain Exploits in Cybersecurity

 

Cybersecurity threats have become the prime reason for many organizations around the world to start protecting their business operations on the cloud. With a growing number of business enterprises taking their operations on the cloud, these security attacks and hacks are being observed every other day. Not only large multi-million-dollar corporates but smaller local start-ups are also getting affected by these increasing number of cybersecurity threats. Most of these cybersecurity attacks go un-reported which proves that the victims are not prepared to handle these vulnerabilities and cybersecurity issues. In that case, the safe and secure technology of Blockchain can help organizations safeguard their business operations on the internet.

 

Blockchain and its exploits in Cybersecurity

 

Known primarily as the technology behind cryptocurrencies like Bitcoin and Ether, Blockchain has been used in many other industrial sectors apart from the finance and banking industries. From speeding up clinical trials for life-saving drugs and disease-fighting vaccines in the health and pharmaceutical sector to making education affordable and accessible to students stationed remotely, the technology of Blockchain is getting incorporated in every major industry of the world.

Blockchain is a technology of distributed and decentralized ledger system that stores and shares data safely over the internet or the cloud. This technology makes peer-to-peer transactions easier without the involvement of any intermediaries or third-party. It allows accessing information and safe transaction possible on the internet. Also, information once stored on a ledger or “block” in a Blockchain cannot be altered. This defining attribute makes it secure and reliable which can be utilized by organizations to help in their risk mitigation efforts.

Especially in cybersecurity, the technology of Blockchain is used to detect foul play by known or unknown sources. Blockchain promotes transparency and provides authenticity to the business operation. Any interference by an unauthorized person or group will get detected easily with the help of this technology. However, despite its many advantages, hackers and cybercriminals have managed to break this complex technology. With the expansion of the internet in terms of speed as well as in terms of its area of reach, more and more organizations whether they are small start-ups or large corporates are becoming victims of cybercrime every other day.

Uses of Blockchain in Cybersecurity

 

Though breakable, Blockchain by its design still offers the safest and secure form of transaction that protects user integrity. If it is used in the right way, then organizations around the globe can take advantage of its various features. In cybersecurity and securing operations on the cloud, Blockchain can become instrumental in risk detection and prevention. The biggest example of the uses of Blockchain in Cybersecurity has been in messaging services that allow encryption-based message transfer between users of the service. This form of sharing information is purely peer-to-peer without any third-party interference. It means that the information shared from one person to another is completely private, even the messaging service provider will not be able to know the information.

This is just one example of the uses of Blockchain in Cybersecurity, with the availability of more information and increase in the number of qualified professionals who understand this technology, Blockchain can be used to secure IoT (Internet of Things), DNS (Domain Name System), DDoS (Distributed Denial of Service), and many others. Attacks on business operations and other cybersecurity-related issues that organizations face can be reduced using Blockchain technology. Therefore, having a thorough knowledge of Blockchain and understanding the technology will help organizations in improving their cybersecurity systems. Individuals interested in future-proofing their careers can get trained and earn credentials in Blockchain through verified Blockchain Training providers as well.

Elishay Smith

Lynn Redmile is a blogger and writer. She loves to express her ideas and thoughts through her writings. She loves to get engaged with the readers who are seeking for informative content on various niches over the internet. techmeshnewsofficial@gmail.com