Encryption has come a long way in a short amount of time. Your personal and professional information is out in the cloud and requires further protection. Therefore, cybersecurity is enduring an update in the form of the blockchain.
So, what is the blockchain? It's a growing list of records that are visualized as 'blocks' or a diagram of squares. These blocks are linked to each other and secured using cryptography, so they can't be decoded.
Seems pretty secure, right? Well, blockchain technology is the new answer to cybersecurity. Blockchain startups are taking the digital age by storm. Here's why blockchain programming is the new answer to cybersecurity.
Blockchain is the Result of Decades Worth of Research
You may think the blockchain is the recent security measure that appeared out of thin air. It seems that way, but it isn't true. The blockchain is the result of research that began in 1991.
Cryptography securing blocks was a project started by Stuart Harber and W. Scott Stornetta. Based off of the work of Merkle trees, these programmers devised a way to fit several documents into one block.
Today, this is why a copious amount of data can be stored inside of the blockchain without it being hacked.
Blockchain is Difficult to Hack
There's a reason why blockchain programming reduces fraud and hackers: it's extremely difficult to hack and the system has little room for error. And this has to do with the underlying protocol.
Unlike a lot of security measures, blockchain codes are open source. This means the codes can be viewed, but they're extremely precise. This leaves little room for error, making hackers experience difficulty when hacking the blockchain.
The blockchain isn't perfect. For example, let's use cryptocurrency. Bitcoin, the cryptocurrency premiere example of blockchain software, came close to suffering an attack called the '51% attack.'
If a hacker were to gain 51% of the power of all 'miners,' or those who verify bitcoin transactions in the blockchain, they could disrupt the system.
But a simple method will prevent this attack: get more bitcoin owners. If there are more people who utilize bitcoin, it's more difficult to disrupt the system. More bitcoin owners will make the 51% attack more difficult.
The same goes for blockchain programming. Get more businesses, individuals, and networks on the blockchain and the blockchain will become more difficult to disrupt.
Blockchain is Increasing in Popularity
More people are storing their money in bitcoin wallets than a bank.
The European Parliament is opting for a blockchain tech regulation, and more finance, real estate, and the pharmaceutical industry are utilizing this extremely safe method of programming and monetary exchange.
Since all information is identified with each other along a chain, it's difficult to hack.
Not only that, but all information is stored in the same place. The blockchain is becoming more popular because accessing your information is easier and safer.
Blockchain Programming is the Answer to Enhanced Cybersecurity
Information on the web is vulnerable to attacks. But the blockchain helps prevents attacks. The blockchain encrypts information in a powerful way. This and effective programming helps to ward off hackers.
If you're ready to move your storage to the blockchain, take a look at our services.