How to boost data security with Blockchain ? | Blockchain in Cyber Security

As the world goes online and people relays on the Internet for their routine processes and habits, it is essential to maintain the security of online data. Blockchain, a notable buzzword of recent days has taken charges to secure online data.

Here let us discuss some important facts about cybersecurity, blockchain technology and use cases of blockchain in cybersecurity.

1. Cyber Security - What is it?
2. Challenges in Cyber Security 
3. What is Blockchain Technology?
4. Blockchain In Cyber Security
5. Future of Cyber Security with Blockchain

Cyber Security - What is it?

Cyber Security is the collections of techniques or methods to protect computers, data, coding, and networks,etc., from access or attack by unauthorized sources. Cyber Security is also known as Information Technology Security or Computer Security that protects data or information.

In short, the protection against the theft of data in computers and the Internet is termed as Cyber Security.

Cyber Criminals: A person who commits cybercrimes ie., using a computer or online medium as a tool and target to steal data.

Cyber Crime: A process of hacking that involves computer or internet.

Types of Cyber Security 

The major types of cybersecurity involve the following 

1. Cloud security
2. Application security
3. Critical infrastructure security
4. Internet of things (IoT) security
5. Network security and so on.

Major Cyber Attacks 

The most common types of cyber attacks that happen often are as follows:

1. Phishing attacks
2. Cross-site scripting (XSS) attack
3. Denial-of-service (DoS) and distributed denial-of-service (DDoS) attacks and a lot more.

To know about cyber attacks types in detail, just a have a look at Top 10 Most Common Types of Cyber Attacks and Common Types of Cybersecurity Attacks​

Challenges in Cyber Security 

1. Protecting centralized Data

As data is stored in a centralized medium, it becomes a big challenge for cyber security industry to protect all the data from hackers.

2. Preventing Data Theft

Current cyber security faces a lack of trust among business individuals as it finds much difficult to prevent data theft.

3. False Data Entry Prevention

As storage is centralized, it requires many verification steps by the human to prevent false data entry or data modifications.

4.  Dos and DDoS attacks 

Prevention of major cyber attacks namely, DoS and DDoS attacks on business data by hackers becomes a tedious process for cyber security industry.

5. Serverless Apps Vulnerability

Server-less applications can be a way for cyber attacks to happen which is also sometimes beyond the control of cyber security.

There are also some other challenges of that cyber security finds hard to overcome which involves Ransomware, malicious applications and lot more.

What is Blockchain Technology?

Blockchain technology is a decentralized, distributed ledger technology that record transactions across many computers into blocks. Each block is the combination of the cryptographic hash of the previous block, a timestamp, and transaction details.

To know more about Blockchain Technology, just refer to our previous article: What is Blockchain Technology.

Blockchain In Cyber Security 

Blockchain is a booming technology that boosts every business and industry verticals. As the count of cybercriminals increases complex and are endlessly trying to steal valuable data like financial data, health records, intellectual property, and personal identifiable information, so on. 

So, Blockchain could potentially enhance cyber-defense that prevent fraudulent activities through consensus mechanisms and detect data theft depending on utilizing its characteristics such as data encryption, auditability, operational resilience, immutability, and transparency.

Here is a video clip that explains about how blockchain can boost cyber security .

Use-Cases Of Blockchain In Cyber Security 

Now, let us look at some of the important use-cases of Blockchain in cyber security.

1. A Decentralized Storage Medium 

As we people move faster with online, it is very necessary to make a safer environment for all the personal information that we share on a medium ( computer or internet ). Most of the business still use a centralized medium for its data storage, which makes it easier for hackers to reach data for stealing.

Since Blockchain-based decentralized storage medium can prevent business data theft and hacks. When using blockchain as a medium to store data hackers no longer have a single point of entry to access entire data. This feature is the main aspect of why enterprises are considering blockchain as key for data security.

For Example The Apollo data cloud (developed by Apollo Currency team)by which users can archive data on the blockchain and grant permission for access by third parties.

2. Security in DNS 

Most of the DNS is centralized and hackers can break the connections between a domain name and IP address and can also make the website unavailable. Hackers in recent days try to pair DNS attacks with DDoS attacks to render websites unusable for a certain period of time.

 Using blockchain technology can make it difficult for hackers as your data or information are stored immutable on a decentralized, distributed ledger and immutable smart contracts are present to power connections.

3. Implementation of Secured Private Messaging Platform

As the world is meant for commercial, a lot of information of consumers is gained from their exchanges of data on social media. Although, many social media channels provide end-end data encryptions since many lags behind the roof.

Some notable amount of social media channels started using blockchain technology for securing the user's private messages and account information. Blockchain technology is a great way to secures all data exchanges and enables secured connectivity between different messaging applications.

4. IoT Security 

Hackers always do concentrate on accessing the overall system via edge devices such as routers and switches. In recent days, hackers also find it easier to attack through devices such as smart thermostats, CCTVs, and doorbells too.

Thus blockchain technology can be used to prevent attacks on those devices. Blockchain technology can provide those IoT devices  “smarts” to make security decisions without depending on a central authority or admin.

Here is an infographics that shows the future of AI in cyber security.

Soruce : DigitalBusiness

5.  Data Veracity

The cost of bad data detection and rooting frauds are significant regardless of the industry. Algorithms that are used to fight fraud are largely effective in detecting inconsistencies, but it is quite larger in cost.

Data that is filtered and stored through a decentralized blockchain technology tends to be more trustworthy, more securable and 100 % correct data as it undergoes a lot of verification process. Thus, the threshold of data veracity is higher when using blockchain technology.

Source : disruptordaily.com

Benefits of Blockchain in Cyber Security 

Let me list a lot more benefits of using blockchain technology to prevent cyber attacks/crime.

1. Distribution of Public Key and Multi-Signature Logins
2. Provides Decentralizing Data Storage that Removes Honey Pot.
3. Mitigating Denial-of-Service (DDoS) Attacks
4. Easy Verification of the Validity of Software Downloads / Updates
5. Provenance for Computer Hardware for Prevention of Foreign Intrusion.

Future of Blockchain-based Cyber Security 

Blockchain technology can be utilized to prevent any type of data breaches, identity thefts, cyber-attacks or false transactions ensuring data privacy and security.

As days pass, the rate of Cybercriminals is raising which inturns create jobs for security professionals over the next few years. It is the blockchain technology that tends to be the savior of data security.

Cyber Security will be boosted double the amount of cybercriminals rate, only when blockchain technology has been used as a medium of data storage.

Let us hope for a Data Secured World through this blockchain-based cyber security.

Who We are ?
 
We bitdeal, a reputed blockchain development company in India, catering tremendous blockchain services for various industries including Cybersecurity. Check out here for the industries we serve with blockchain development. 

 

Be in touch with our Blockchain Experts to know more about Blockchain !!

Reference :

1. 4 Promising Use Cases Of Blockchain In Cybersecurity​

2. What is Blockchain and what does it mean for cyber security?

3. 5 Cybersecurity Challenges and Trends

Our Previous Articles about the use-cases of blockchain in various industry verticals :

1. How Blockchain Technology Supports Healthcare Industry

2. How Blockchain Technology Can Modernize Government Sectors ?

3.How Blockchain Technology Helps In Rebuilding The Banking Sectors ?

4. How Blockchain Technology Helps In Rebuilding The Education Sectors ?

5. How Blockchain Can Renovate Supply Chain Management ( SCM ) ?