What is Blockchain?
blockchain is a distributed database maintaining a frequently expanding list of records that are securely stored from tampering or revision. It consists of data-structure blocks that contain data or programs, with each block storing batches of individual transactions and the results of any blockchain executables. Every node is stored in a decentralized system and has a copy of the blockchain. There is no “official” copy that exists in any centralized system and no user is given more access rights than the other.
Data Security is no longer an afterthought or luxury, most of our private, personal, and sensitive information is stored and transmitted online daily, tight security is now a necessity for everyone. With so much more of our lives being online, we are starting to hear so much about data breaches and hacks than ever before. We are going to take a look at how Blockchain technology can enhance current centralized data security solutions, and help keep us safe and in control of our data.
Let’s take a look at how Blockchain can protect your data:
Encryption and Validation
The blockchain platform ensures that data is encrypted, making data modification a difficult task. You can also save a cryptographic signature doc or a file on Blockchain. This gives users a way to make sure files are not tampered with, without having to save the entire file on the Blockchain. Because Blockchain is decentralized, you can always cross-check file signatures across all the ledgers on all the nodes in the network and verify that they haven’t been revised. When you look at the file, you can be guaranteed that it is the same version of the document that existed previously. If someone has changed a record, then the signature will be rendered invalid. Blockchain offers highly reliable data verification which can be trusted.
Difficulties in hacking
Blockchain is a chain of digital “blocks” containing loads of records and transactions. Because these records and transactions are not contained in a central location, blockchains do not have a single point of failure and cannot be revised from one computer. Records are decentralized and distributed ledgers across peer-to-peer networks that are frequently updated and kept in sync. Each digital block is connected to all the other digital blocks before and after. Hackers can break into traditional networks and find all the data in a single repository and extract or corrupt it, the blockchain makes this really hard.
Decentralized way of securing data
As mentioned above Blockchain is a decentralized technology it does not depend on a single central point of control. The best way to explain it is: it is a digital ledger of transactions with all the computers having the entire copy of the data. A lack of single authorized access makes the system more secure and fair. Blockchain uses advanced process protocols across a network of nodes instead of depending on a centralized system authority to securely transact with other users, validate transactions, and record data without it getting corrupted. As blockchain is a ledger of data it is very important that the information being stored is truthful and accurate. The data is saved on multiple computers rest assured it is highly secured even if one or two computers malfunction.
Blockchain is a growing technology worldwide, blockchain is now the perfect solution for companies to store data. The biggest benefit of Blockchain for companies is that it’s not just highly secured but it is also very reliable and transparent. Contact Commercient today to take the first step of securing your data, improve the security of your digital transactions, and optimize operations.