How blockchain technology can improve cybersecurity

How blockchain technology can improve cybersecurity

Safety while navigating the Internet has become an escalating concern over the years. As technology gets better, hackers get better in their threats and plots. The only good news is that the hackers can never outsmart the entire tech-savvy population. Every day, there are newer and better ways to combat hacker attacks.

On that note, there already exists a technology in the market, blockchain technology, that can be and has been used for a while now by big brands. This technology helps to protect people’s information from cyber-attacks, which ultimately is a measure to improve cybersecurity across all industries.

Find out below how you can use blockchain technology to enhance cybersecurity for your business.

Recording transactions

Have you ever wished for a technology that can record all your transactions for safe keeping?

Well, the Blockchain is in itself a decentralized ledger that keeps an account for all the records of transactions across multiple computers. This list of the database is what is known as a chain. Just like how Ottomatik.io offers MySQL backup, the blockchain provides a backup of all the transactions of your machines.

The data stored in the blockchain is very authentic, which means that the records are fully transparent as per the records.

Decentralized storage

Blockchain technology has provided a decentralized storage mechanism for people’s files and transactions. The decentralize storage that the Blockchain offers is in such a way that there is no central authority or storage location for files and data. Instead, people on the network get to store their own Blockchain. It gives a sense of responsibility to the involved parties, as they get to be active in the process of verifying the data, as a false data or not, and whether the false information can be added or removed from the chain.

Ideally, the users of this technology reserve the choice to store their information in their network on their computers. Since most people opt to do so, they have the advantage of tracking the transactions along with the technology to ensure that the chain will not collapse in the event of a security threat, say a hacker attack.

Preventing data tampering

The Blockchain technology does not leave any room for information to be tampered with. The very way the transactions were recorded is the way they remain throughout the storage period. Technically, the Blockchain generates a cryptographic hash that is unique for every piece of information that is stored. This way, if you need access to a particular data, you must feed in the same hash algorithm for the file.

Further, if you determine any change in the input of the files stored in the Blockchain, it comes up with an entirely different cryptographic hash because it becomes a different transaction and data altogether. It fashions the best means to verify a file’s authenticity. The best news is that the hash algorithm is designed in such a way to work in one direction. This only means that you cannot determine the file input from the output alone, therefore becoming totally tamper-proof.

Preventing fraud and data theft

With Blockchain technology, the chances of losing your data to theft are meager in comparison to other techniques. What happens with this technology is that the chains are established for a global network. Ideally, for a hacker to get away with corrupting information, stealing it or deleting it, it would mean tampering with every user’s computer in the global network, which is virtually hard to attain.

What happens is that the more users join the network, the harder it become to bring down the network. Therefore, the bigger the Blockchain, the lower the security risks. In that case, it is near impossible to bring down an entire system, which means that the chances of fraud and data theft are very minimum.

Peer-to-peer sharing

As mentioned above, people have more engagement with the Blockchain technology and in the safety of their information. As people become more and more in part with the verification of data processes, a whole ecosystem of secure networks is established, and peer-to-peer sharing is encouraged.

In fact, due to the decentralization advantage, users can decide to rent out their free storage space to other users and earn money from it.

Overall, as top brands are using this technology to safeguard their information online, it is becoming clearer that the battle against hackers might soon be conquered.


<small>Partner Content: This article is sponsored published by Ottomatik.io</small>

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