Blockchain: a big impact on cybersecurity.
Surfing the Internet safely has become a genuine concern over the last few years, owing to the fact that hack attacks around the world have recently become more intense. It is safe to project that things are bound to only get worse. With threats being posed by hackers daily on data theft and internet fraud, businesses and individuals are at risk of losing much more than funds and data. Therefore, the need for protection of data and other online valuables cannot be overemphasized.
Blockchain technology, because of its immutable and highly impenetrable feature provides one of the best tools we currently have to protect data from cyber-attacks; preventing potential fraud and decreasing the chance of data being stolen or compromised.
Due to the decentralized nature of the Blockchain, data is secured optimally. To destroy or corrupt a Blockchain, a hacker would have to destroy the data stored on every user’s computer in the network. This could be millions of computers, with each one storing a copy of some or all the data. Unless the hacker could simultaneously bring down an entire network (which is near impossible), undamaged computers, also known as “nodes”, would continue running to verify and keep a record of all the data on the network. The impossibility of a task like taking down a whole chain increases along with the amount of users on a network. Bigger Blockchain networks with more users have an infinitely lower risk of getting attacked by hackers because of the complexity required to penetrate such a network. Simply put, the possibility of a network facing attack from cyber hackers is inversely proportional to the amount of users on the network, provided the network is on the Blockchain.
This complex structure provides Blockchain technology with the ability to be the most secure form of storing and sharing information online that we’ve discovered so far. That’s why innovators have begun applying the technology in different sectors to prevent fraud and increase protection of data.
As more people join the worldwide web and technology continues to develop, more data gets produced and more hackers will attempt to steal or corrupt that data. The technology behind Blockchain is versatile and incredibly useful for the future of the Internet, allowing users to better secure their data.
Innovative uses for blockchain technology are already becoming a part of other fields beyond cryptocurrencies and can be especially useful to boost cybersecurity. By implementing rigorous encryption and data distribution protocols on a network, any business can ensure that their information will remain safely intact and out of the reach of hackers.
Jelurida Africa, a Blockchain startup based in Lagos together with VaultBridge, a Cybersecurity firm also based in Lagos is bringing the Blockchain and Cybersecurity ecosystem together in Nigeria by organising the CyberChain2019 conference set to come up on August 31st 2019 and Jelurida is a proud sponsor of this great event.
