How Blockchain Ecosystem Can Resolve the Cybersecurity Issue?

Auto Tech Outlook | Friday, February 22, 2019

Blockchain innovation has enabled enterprises and individuals to agree on the scrutinized data available without any reliance on an intermediary. And the same reason makes blockchain the perfect fit to fight for a few cybersecurity applications. Despite that, as the security threats to the blockchain projects are on a rise, it’s high time to consider building decentralized security applications.

•  Blockchain Innovation

How can one be sure about the networks blockchain developers and crypto miners’ uses are secured? The answer to this is- fuse network security directly into the blockchain implementations. For instance, secure channels for data transport using packet-level encryption can be enabled by default for any deployment, rather than allowing with a separate solution like a virtual private network (VPN). This is because VPNs not only require specialized knowledge to set up and maintain but also introduce a central authority and point of failure into an otherwise decentralized system.

It’s also significant that individuals establish secure connections between all nodes in a network, so traffic is securely transported. Many existing systems integrate transport layer security (TLS) for encryption, and some networks consider secure sockets layer (SSL). But neither may be enough in today’s complex cybersecurity environment.

Few Cybersecurity Companies (Logsign,  Prometheus Security Group Global, Virtis)

As one manages the traffic routing and packet processing as per the rules and regulations stored in the blockchain-based smart contracts, they could simplify the deployment and maintenance of regulations across multiple machines instead of updating them individually. Furthermore, this configuration allows developers to structure their own network traffic rules, such as conditioning on packet-level features to spot common phishing strategies like- a misleading website which is similar to a trusted one is sent to lure in a user; however, these framework ideas are just in the initial phase ad there is a long way to go. Developers should take the initiative to build their decentralized security applications for anti-phishing, anti-malware, and intrusion detection and distributed VPNs to deploy on the global blockchain.

Well, it’s not enough to rely and trust on blockchain’s security because of more transparency than other technological data security and privacy methods. Developers, miners and even enterprises need to look at the entire digital ecosystem when considering safety, as every single point provides savvy hackers a weak link to exploit. The key to avoiding such situations is to keep discussing threats and finding and integrating appropriate solutions for securing it.

Check out: Top Cybersecurity Companies

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