Cyber-security is one of the major concerns of today's world. We can say no data is 100% safe in the cyberworld. What we consider safe today may not be helpful tomorrow. There are nearly 4.3 billion internet users today i.e. amounting to nearly half of the population in the globe. And it is predicted that there may be more of 6 billion users by 2022. More users more data handling and security is needed. And most companies and cybersecurity experts face a huge risk in their path. It is anticipated that cybercrime will cost the world of $6 trillion every year by 2021, up from $3.6 trillion in 2016. Cyber attacks are increasing nowadays and it is becoming more complex due to the availability of more sophisticated malware, creating a greater threat to many organizational out their.
Blockchain is considered as today’s security for the web world, still the critics are into exploring its scalability, sustainability, and security. However, the blockchain’s capacities such as data confidentiality, integrity, and availability surpasses all the technologies already existing. Blockchain is now considered as a viable technology when it comes to data security and business transaction.
Here are some of the most prominent uses cases and solutions from blockchain to increase cybersecurity.
Domain Name System (DNS) is largely centralized. It makes easy for hackers to get into the system and make a connection through websites and IP address. By this they are able to crash the system, can steal data or redirect to scam websites. With this the attack it is also possible to pair DNS attacks with DDoS attacks and can lead to render an unusable website.
A blockchain system can create a security level to another level. As it is decentralized, it will make difficult for hackers to find an exact hack point. Every data and other domain information are stored in a distributed immutable ledger, and it is safeguarded by powerful smart contracts.
Decentralized Storage Solutions
Data security and the efficiency of data has been a serious problem for the organization and individuals around the world. Storing the data is not a real issue but keeping it in a secure manner is a great challenge. Centralized storage are always vulnerable to security breaches, makes it's unsuitable for data security nowadays.
Blockchain is an ideal solution for the centralized storage solution. In order to store the data, Blockchain uses distributed ledger technology. It is very secure since it uses modern cryptography hashing algorithm to store data. Blockchain-based cloud storage allows one to store data securely with utmost efficiency and clear transparency on a network. Blockchain solution provides full control of data with utmost privacy and security by using the latest data encryption methods. For eg: Friend an open-source community that is powered by blockchain technology and is built to provide much better solution for data security. This platform provides digital freedom to internet users. This cloud computing setup provide much control and security than their centralized server system
Security to Internet of Things(IoT) Devices
IoT security is one such area that is largely concerned with safeguarding and it provides network security to the connected devices on the internet. IoT devices help hardware devices to connect to the network and transfer data to better performance of the device. Allowing devices to connect to the internet will allow them to connect to a more vulnerable system which can lead to serious attacks if the device is centralized and not properly maintained or protected.
DLT can be used to protect IoT from attackers. IoT devices can be smart enough to maintain security without relying on a centralized system. For instance, consider some device that can take part in a group which creates a common consensus regarding how the network to transfer data if anything suspiciously or any node work against consensus will lock or remove from network. By keeping the IoT device in blockchain can let the device to attain a real-time data transfer and real-time communication between any devices from anywhere.
Private Data Security with DLT
More popular internet becomes, a lot of huge data, metadata is collected from each user during each transaction(on each activity). For instance, suppose a customer uses social media and share his/her like on some product, the real-time data is watched by other users and they are able to track that and use it for their own monetary benefits and other purposes.
Many social media started to use end to end encryption to protect the data being transferred. Currently, most social apps and messaging services are missing a standard set of security protocols, also they use single platform API for enabling cross-communication. By using blockchain for communication, transmitting messages is via creating a unified ecosystem.
The main key factor of using blocking in cyber security is that it can provide a secure decentralized platform. When data is no longer coming from a single point and is secured by certain consensus and crypto encryption, it makes it much more difficult for the cyber crime activities.