How can Blockchain Ensure Better Cybersecurity?  (2024)

FAQs

How is blockchain used to improve cyber security? ›

Blockchain-based decentralised file storage systems distribute data across a network, reducing the risk of a single point of failure. This not only enhances the security of sensitive files but also ensures privacy by minimising the exposure of data to potential breaches.

In most blockchains or distributed ledger technologies (DLT), the data is structured into blocks and each block contains a transaction or bundle of transactions. Each new block connects to all the blocks before it in a cryptographic chain in such a way that it's nearly impossible to tamper with.

By creating a record that can't be altered and is encrypted end-to-end, the blockchain helps prevent fraud and unauthorized activity. You can address privacy issues on the blockchain by anonymizing personal data and by using permissions to prevent access.

In the IoT ecosystem, the application layer therefore helps with both data visualization and firmware management. User authentication is essential in this layer to enable communication with the blockchain with the proper data owner. A two-layer authentication mechanism was used in this case to ensure safe access.

Blockchain technology offers an innovative approach to achieving confidentiality in cybersecurity. Blockchain uses cryptography to secure data on the network. Each transaction on the blockchain is encrypted, and only authorized parties can access the information using their private keys.

Blockchain's decentralized, secure, and transparent nature offers a robust solution to many of the cyber security challenges faced by various industries. Beyond cryptocurrencies, blockchain is poised to revolutionize data integrity, identity management, IoT security, supply chains, and more.

Cryptography: Every transaction on the blockchain is secured with cryptographic principles, ensuring data integrity and authentication. Public key infrastructure (PKI) grants users a public key to receive assets and a private key to safeguard them.

By utilising a decentralised and immutable ledger, blockchain ensures the integrity and authenticity of sensitive data, such as communications, logistics and supply chain information. This tamper-resistant infrastructure reduces the risk of cyber attacks, espionage and data breaches, and bolstering national security.

Blockchain heavily relies on cryptographic techniques to secure data at every step. It encrypts transactions and information, making them nearly impervious to unauthorized access and manipulation. Public and private keys serve as digital signatures that verify identities before granting access to data.

To enhance blockchain security, it's important to implement robust measures such as encryption, multi-factor authentication, secure coding practices, regular security audits, and continuous monitoring and threat detection. These measures help to safeguard the blockchain system from potential threats.

Is blockchain better than cyber security? ›

While blockchain security and Cybersecurity are related, they are different. While the former centers around safeguarding the integrity and immutability of all the data stored on a blockchain, the latter primarily focuses on protecting computer systems and networks from a wide range of attacks and cyber threats.

Decentralized data storage

Unlike centralized storage systems, identity data and Verifiable Credentials are stored on people's individual devices and not even on the blockchain itself. This makes it harder for bad actors to access a lot of personal information at once.

Blockchain represents a groundbreaking shift in securing data integrity and reinforcing information security. It provides an immutable, transparent ledger that is bolstered against conventional digital vulnerabilities.

Blockchain systems use asymmetric cryptography to secure transactions between users. In these systems, each user has a public and private key. These keys are random strings of numbers and are cryptographically related. It is mathematically impossible for a user to guess another user's private key from their public key.

Blockchain technology's data structures have inherent security qualities because they are based on consensus, cryptography, and decentralization principles. Each new block of information connects to all the previous blocks in a way that it's nearly impossible to tamper with.

Answer. Answer: Blockchain applied to improve cybersecurity in IoT, data storage and sharing, network security, private user data, navigation and utility of World Wide Web.

Cybersecurity measures are designed to protect data from unauthorized access. Blockchain, on the other hand, is designed to provide transparency and immutability. Once data has been added to the blockchain, it cannot be altered or deleted, ensuring that data is tamper-proof and transparent.