Blockchains Can Potentially Improve The Quality And Performance Of Encryption And Authentication. This Means Not Only Improving The Security Of New Ecosystems Such As The Internet Of Things.

Blockchain In Cybersecurity, But Also Allowing Organizations And Webmasters To Use The Technology To Prevent Distributed Denial-Of-Service Attacks.

Some experts believe that the revolution that the blockchain will bring in the next decade will be similar to the universality of the Internet.

Of course, similar predictions have been made about technologies such as cloud computing, artificial intelligence, and virtual reality, indicating that the IT industry will change dramatically in the next decade.

He passed it. Liana M. DeWildt Guzman, senior vice president of blockchain development at Skillshare, believes that blockchain may not be the key to solving all security problems, and experts have exaggerated the potential capabilities of this technology in security.

However, there is a clear fact that the presence of the blockchain in the field of security has great growth potential. A report published by the Grand View Research Institute shows that the blockchain technology market by 1403 AD was about 7.

What is a blockchain?

Blockchain is a decentralized data storage system. In this system, all data is encrypted by the 256-bit AES algorithm, and the data is divided into different blocks. Each block can be decrypted with a key from the previous block, but this key is not sufficient to open a block. In simple terms, each block is created by creating mathematical equations that are irreversible. One of the most important benefits of blockchain is Smart Contracts. These types of contracts, which are actually computer codes, are a two-way, unmediated agreement between a seller and a buyer. In case of failure to fulfill the obligations of either party, the party that has not been able to fulfill its obligations will be fined (material or immaterial). With this description, we see that a digital chain is a set consisting of blocks. Whenever a person wants to make a transaction, it is as if he is building a block and connecting it to the other blocks, so another loop is added to the blockchain. When a new block is created, it is added to the end of the chain, it is inseparable, and thus the chain is not broken. Unlike most methods in which data is written, it can be seen here from the beginning of the chain to the current point of each transaction. For example, if I have a word processor that acts like a blockchain, any changes made to this article can be tracked by the processor, meaning that anyone can see what has changed from the beginning to the end of the article. . “Blockchains are transactional networks,” says Guzman. A blockchain is a secure database that is being replicated globally. You can think of it as a secure, unchanging, and lasting cloud page. The only blockchain protocol widely used today, called Bitcoin, has been running non-stop for eight years. “The network operates in such a way that if one of the nodes goes offline, the network can continue to record transactions without interrupting moments.” However, several experimental blockchains are to be introduced to the world of technology. Maersk International Shipping, for example, is working with IBM on a project that helps supply chain management around the world and can track records of tens of millions of shipping containers worldwide. In another example, the UK Children’s Rescue Charity seeks to build a humanitarian passport through a blockchain. Walmart retailers in China use blockchain to track food supply chains and monitor their health and safety standards. It seems that the above technology is of interest to large companies, especially companies that operate in financial services. “The UK’s newest retail bank is seriously developing this technology,” said David Young, chief technology officer at Metro Bank. “The blockchain structure itself is not safer or more secure than other structures in the field of technology,” said John Palfremann, chief executive officer of IBM’s cloud computing division. The main attraction of the blockchain is not the security benefits of this technology but the programs by which they can activate. “The code that supports blockchain is relatively new and untested.” It seems that the above technology is of interest to large companies, especially companies that operate in financial services. “The UK’s newest retail bank is seriously developing this technology,” said David Young, chief technology officer at Metro Bank. “The blockchain structure itself is not safer or more secure than other structures in the field of technology,” said John Palfremann, chief executive officer of IBM’s cloud computing division. The main attraction of the blockchain is not the security benefits of this technology but the programs by which they can activate. “The code that supports blockchain is relatively new and untested.” It seems that the above technology is of interest to large companies, especially companies that operate in financial services. “The UK’s newest retail bank is seriously developing this technology,” said David Young, chief technology officer at Metro Bank. “The blockchain structure itself is not safer or more secure than other structures in the field of technology,” said John Palfremann, chief executive officer of IBM’s cloud computing division. The main attraction of the blockchain is not the security benefits of this technology but the programs by which they can activate. “The code that supports blockchain is relatively new and untested.” “The UK’s newest retail bank is seriously developing this technology,” said David Young, chief technology officer at Metro Bank. “The blockchain structure itself is not safer or more secure than other structures in the field of technology,” said John Palfremann, chief executive officer of IBM’s cloud computing division. The main attraction of the blockchain is not the security benefits of this technology but the programs by which they can activate. “The code that supports blockchain is relatively new and untested.” “The UK’s newest retail bank is seriously developing this technology,” said David Young, chief technology officer at Metro Bank. “The blockchain structure itself is not safer or more secure than other structures in the field of technology,” said John Palfremann, chief executive officer of IBM’s cloud computing division. The main attraction of the blockchain is not the security benefits of this technology but the programs by which they can activate. “The code that supports blockchain is relatively new and untested.” The main attraction of the blockchain is not the security benefits of this technology but the programs by which they can activate. “The code that supports blockchain is relatively new and untested.” The main attraction of the blockchain is not the security benefits of this technology but the programs by which they can activate. “The code that supports blockchain is relatively new and untested.”

What are the security benefits of blockchain?

Blockchains can fill in the gaps created by poor implementation of security mechanisms, leading to distrust in some technologies. Today, security experts have to set the encryption process by default on all devices. At this time, you can not be sure if a third party has seen your email when you are sending it. In some cases, we may not even be able to verify the identity of the sender. But by using the methods provided by a blockchain, we can sign our transactions or verify their authenticity. While blockchain-related news today revolves more around digital currencies, the reality is that implementing blockchain-based solutions allows us to use popular digital services more reliably. The biggest application of the blockchain concerns the public sector, which allows us to build citizen-centered urban infrastructure. As cybersecurity has become one of the most challenging sectors of online businesses, many IT organizations are exploring whether blockchain can effectively make security solutions more secure and powerful. If so, how. is it doing? Dr. Joao Ferreira, a cybersecurity specialist at the University of Teeside in the UK, believes that blockchain has two key benefits: stability. “Theoretically, it is impossible to interfere with the data. You can not simply modify blockchain data because the data has a distributed hash structure,” Ferreira said. “Most cyberattacks are due to the ability of hackers to change information. The blockchain can use to prevent this from happening, and it is this capability that has led experts to consider the widespread use of blockchain in security.” The blockchain uses a consensus algorithm (consensus), and therefore, any change in it must be approved by the network, which is costly. “It costs a lot to implement any change, so any attack on a blockchain-based service is complicated because if you have to pay to implement the change, cyberattacks are expensive,” Ferreira said. The second advantage of blockchain in information technology is its lower risk in the face of distributed denial of service attacks because the attack level is distributed rather than concentrated. More precisely, the difficulty of editing information due to the inherent nature of the blockchain provides a resilient infrastructure for businesses to rely on with confidence. “If a hacker destroys my blockchain version, I might lose my services, but other people can still use it, so a denial-of-service attack in the blockchain world doesn’t make much sense,” says Dr. Ferreira. . » “Blockchain is a decentralized system and is superior to current single-point failures architectures,” said Gareth Baker, an analyst at IT 451. We looked at certification authority (CA) organizations with security risks and saw what happens when a domain name system provider fails.

Just like the Button Mirai attack that dealt a heavy blow to Dyn. “However, I doubt that the blockchain can perform better in this area and can facilitate the use of public key infrastructure (PKI) by eliminating dependence on the certification authority as a haven.”

Blockchain vs. IoT

No organization hopes to use blockchain to solve one of the biggest problems in the IT industry right now, IoT security. In collaboration with members of the Blockchain Association, the Isle of Man is working on a project to see if the technology can protect IoT devices from hacking. “We’re looking to add a layer of security around the devices so that any data that enters them from the outside is routed into a mesh network,” said Brian Danger, Isle of Man, chief financial officer, banking and development operations at the Isle of Man. Be carefully analyzed in this network. If this method is implemented correctly, the conditions will be created to predict the behavior pattern of packets and to quickly identify and deal with any changes in the structural pattern of packets. You gain access to a network of devices around which the blockchain forms a protective layer by continuously using the blockchain. “Statistics show that the majority of attacks are carried out because of the ability of hackers to change information, while the blockchain can be quite effective in preventing such attacks.”

More power creates more responsibility.

Legislators are trying to keep pace with the development of strategic and important technologies and pass relevant laws. Accordingly, people who implement blockchain technology and services for organizations will be responsible for any incidents and know-how security risks that may damage organizations’ communication infrastructure. “Blockchain service providers need to make sure they understand the pressure from the law and the customers and do what they can to reduce the risk,” said Luke Scanlon, chief technology officer at Pinsent Masons. “The worst-case scenario for companies is when they are unable to adapt to new technologies because suppliers are unable to guarantee the safety of the new technology.” This is important because blockchain creates risks. Dr. Ferreira says: “There is no system that is 100% secure. For example, the theft of Bitcoin from cryptocurrencies is a clear example of this. The key blockchain risk is just like the technologies in which the human aspect is influential. We indeed expect users to manage their currency wallets. Still, the reality is that there are many problems in this area because hackers can easily exploit people through social engineering. Here, hackers can easily access a large number of files that encrypt your account address and balance. If you lose these files, you lose your identity, money, and all encrypted currencies. Even companies that provide these services are exposed to security breaches. Last year, a smart DAO contract based on the Atrium currency cryptocurrency was hacked, causing $ 50 million to be withdrawn from the virtual capital fund. Mistakes in smart contracts are common, and hackers are ready to exploit the vulnerabilities hidden in these contracts. “DAOs hire good people and skilled programmers, but there are always bugs that hackers can exploit.”

Some blockchain benefits, such as anonymity, can be used against organizations because hackers hide illegal transactions such as ransom payments. Using blockchain-based identities to control access to services relieves users who wish to remain anonymous. Still, if the blockchain is cracked and data is disclosed, the reputation of the responsible company will severely damage. The more sophisticated the technology, the deeper the catastrophe.

What is the future of blockchain and cyber security?

Right at the implementation stage, blockchain and cybersecurity are at odds with each other. If a blockchain is implemented incorrectly, it poses a great risk to organizations and their customers. “The technology is not yet secure and mature enough to alleviate security concerns and allow organizations to approach it with more confidence,” said Florina Maliki of SonicWALL, an IT security company. “The code that supports the blockchain is almost new and has not been thoroughly tested against potential hacking capabilities, so there is no reliable way to identify bugs and invisible vulnerabilities.” Blockchain is not a new redefinition of cybersecurity but an infrastructure to strengthen security. By combining it with existing IT security solutions, blockchain can provide greater security.