The Role of Blockchain in Cybersecurity

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Blockchain is taking the world by storm. Since its launch in 2009, the technology has seen over 81 million people using it through digital currencies like bitcoin. But blockchains are more than their use in cryptocurrencies and the need for it in cybersecurity can’t  be overlooked. They are decentralised, digitally distributed ledgers that exist in various networks. They record and store transactions and digital assets.

Blockchains foster trust to make cybersecurity stronger. Essentially, if you need strong cybersecurity for cloud-based solutions, a blockchain can have a decentralised ledger system that only makes information available to the members of a specific blockchain. This is one of the reasons why blockchain is maintaining its popular position within the cybersecurity industry.

For more applications of blockchain trends in cybersecurity, read more below.

Role of Blockchain in Cybersecurity

 

Using Blockchain to Secure the DNS

The Domain Name System (DNS) is a naming database where domain names can be located and translated into Internet Protocol (IP) addresses. It can be likened to a phonebook – only this time, it’s the internet’s phonebook.

Hackers saw this as a way to exploit links to crash sites, so they have begun to access the DNS. But with blockchain, these risks can be mitigated. The DNS is a centralised system model of trust – and with blockchain as a decentralised system – blockchain can utilise its validation rules and algorithms to guarantee the security of the data within the DNS. The domains can be distributed on a blockchain, essentially blockchain-based name systems, to offer security for the domains.

Having a Decentralised Storage of Sensitive Data

Data is generated every day. Some of them could be very sensitive and can contain classified information. As such, they are vulnerable to various cyber-attacks. With blockchain, you can arrange a storage solution that can be decentralized to protect your data. Moreover, you can store data for as long as you want without it being a problem.

This practice is evident in blockchain’s key use in the legal sector where long-duration record-keeping is possible. As blockchain is a self-renewing and self-regulating technology, this will keep your data safe and stored for long periods of time. In this case, you wouldn’t even have to worry about the challenges you might face with intellectual property rights. The same concept can apply to nearly every other industry that has gone digital, too.

Being a Security for IoT

IoT or the Internet of Things is the system that connects the devices or machines that are connected to the internet. It is an interrelated network whose purpose is to facilitate communication between the cloud and the devices connected to it. Because it is an integral part of how the internet works, any cyber-attack is seen as a major concern.

Having blockchain within the IoT cybersecurity can make it hard to tamper with. Blockchain technology makes it so that any transaction within the IoT is encrypted and has gone through trusted parties. Blockchain can improve cybersecurity by utilizing key management techniques and authentication processes to maintain the safety of the IoT. Blockchain also secures the IoT by identifying the weakest link in the network and removing that point of failure. It can create a mesh network that can allow a more secured device-to-device communication.

Shield Against DDoS Attacks

popular cyber-attack as of late is the Distributed Denial-Of-Service (DDoS) attack. This is a scenario wherein hackers disrupt the flow of services by generating an overwhelming amount of internet traffic.

Blockchain can easily deflect these attacks due to it being a secured system. It can remove the need for a centralised IoT ecosystem that needs to authenticate individual devices. Thus, there would be no centralised point of failure and the blockchain can filter transactions without clogging up a central network.

The decentralised nature of blockchain puts it in a vital role in cybersecurity. Aside from being a versatile secured ledger, blockchain has the ability to improve cybersecurity practices through encryption and strengthened connections. Cybersecurity is becoming more important these days – and blockchain can easily be adapted to fight against outside threats.

 

Article written by Renee Jolene

Exclusively for shesecures.org

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