Cybersecurity stands for the practices that are applied for protecting networks, programs, and systems from digital attacks. Understanding the concept is very important because every person who deal with the internet can encounter different virtual attacks by hackers or scammers.
Blockchain technology eases our lives via various platforms and applications. For instance, the technology can make the healthcare sector better with virtual recording methods and fake drug identification. Also, we can mention the existence of blockchain technology in the banking industry. Like these two different fields, the technology can be utilized in cybersecurity to provide internet lovers with more secure environment.
How Can Blockchain Technology Support Cybersecurity?
Although a lot of people think that blockchain technology is not safe for daily usage, the technology can help cybersecurity to keep users safe from different digital attacks. Now, we want to explain how this technology can do that!
Decentralization Increases Hackers’ Working Time
Firstly, we can mention the decentralized structure of blockchain technology that can contribute to cybersecurity. The technology depends on decentralization, and this situation means that blockchain does not need a central authority.
The decentralized structure can be utilized for creating decentralized security systems. With these systems, data can be replicated via different nodes in a network, and this circumstance can make hackers and scammers’ work difficult.
Thanks to decentralized security, hackers/scammers must spend a lot of time to understand the infrastructure of the system, and they have to use many resources to reach their goal.
The daily applications, like social media and shopping apps, have a centralized structure. In other words, these apps are based on a central authority, and the data of users are stored in one place. This situation means that the data are easily accessible for hackers! For instance, a hacker who entered into a centralized server can reach your credit card details and passwords of your social media accounts. Hence, centralization is not as good as decentralization in terms of cybersecurity.
Blockchain Offers Authentication
Authentication means the process of understanding the identity of a registered user/process to build a safe environment on the internet. This process can be done with the help of blockchain technology, so this tech can ensure internet users’ safety.
Blockchain can be utilized for authenticating software updates for fighting supply chain attacks. Also, the technology can be used for authenticating individuals. Via the authentication of users, identity protection and access management can be considered effectively in the digital space. This technology is using cryptographic keys that authenticate user identities, so it is a good tool for avoiding identity theft.
The data and other information in messaging and social media applications can be protected in a good way with the help of blockchain technology. For example, some organizations are utilizing the technology’s encryption and hashing capabilities for safeguarded communication.
Blockchain Eliminates Changing/Deleting Info
Immutability is an important property of blockchain technology, and this feature can be beneficial in cybersecurity. If a transaction is recorded on a blockchain, it cannot be changed or deleted, and this circumstance can be utilized for protecting users from digital attacks.
With the immutability of blockchain technology, detecting and preventing cyber attacks can be easy and quick. Also, this feature is useful in decentralized voting and data collection in the healthcare sector and scientific studies.
Transparent Ecosystem Is Created by Blockchain
Another advantage to cybersecurity is blockchain’s transparency. Thanks to the decentralized structure, all transactions on blockchains can be viewed transparently. With this circumstance, detecting frauds becomes easy and effective.
This technology offers immutable and transparent ledgers where all transactions and data are recorded. These ledgers are used by some organizations which want to continue a tamper-proof audit trail of all activities, such as system changes and data transfers. Hence, the transparency is a significant element in cybersecurity.
For creating secure environment, different fields consider the usage of blockchain technology. For instance, some hospitals record their patients’ information on blockchains while some financial institutions, such as the Bank of America and JP Morgan, improve their security protocols via the technology.
Thanks to the various features of blockchain technology, cybersecurity for all internet users, especially old people and children, can be administered efficiently.