How can blockchain technology enhance the security level?
As much as we need technology, it has exposed us to vulnerabilities, data threats, reach of account and act of network breach is not new. Digitization has led to a new era, and the World Wide Web has made things more accessible. This accessibility is not limited, and even hackers have access to it. Hence, data security or cybersecurity has become a prime concern for many. Tech experts are looking for new ways to ensure data security. The surge of Blockchain technology paved the way for a wave of technological transformation that exposed a new method of functioning.
Blockchain is a distributed ledger technology. It started as the underlying framework for Bitcoin exchange; however, Blockchain emerged as the mainstream technology that paved the way for a new set of development over a period of time. Business operations run on conventional platforms are now being synced with Blockchain technology to make them more efficient. But why is there so much buzz about Blockchain? Is this distributed ledger technology enough to create an impact, or are there any drawbacks to be addressed?
Key features of Blockchain
If you want to know why Blockchain is the technology of the future, then you must know about its key features that differentiate it from the other technologies:
3. Data security
6. Peer-to-peer interaction
While all these features are paramount, the one that has garnered maximum attention is data security. Presently most businesses are looking for alternative ways to enhance data security, and Blockchain promises the same. Let’s see how does this work:
As we have mentioned above, Blockchain is the distributed ledger technology, and it allows data storage chronologically. Each of the information that enters the DLT is time-stamped. So, when it comes to tracking the information, it becomes easier. Besides, all the information is added in the form of blocks that are stored linearly, and each block is connected with the other. we can say that:
1. Blockchain time-stamps the data
2. Each information is stored in the form of blocks
3. All blocks are interlinked
4. The information is distributed to the entire network
All these clubs together and assure that the data that is entered on the Blockchain is completely secure. Besides, each data is encrypted cryptographically. This makes Blockchain a secured platform.
Although Blockchain guarantees complete data security, the fact of the matter is that in the case of public Blockchain, anyone can become a part of the system. So the blockchain developer have come up with the concept of permissioned Blockchain, which is more secure and has only authorized members as a part of the system. Hyperledger and Corda are examples of permissioned Blockchain.
Cybersecurity and data threats are major concerns, and most companies are looking for ways to secure the system. Blockchain technology has emerged as a panacea that overcomes all the barriers and provides a seamless and secure platform for the transaction. The growing use of Blockchain technology has also led to the rise in the demand for Blockchain developers. With a certification course in Blockchain, you can start your career as a Blockchain engineer or developer. Blockchain Council offers the best Blockchain course online. To know more about Blockchain courses, connect with the Blockchain Council today.