The Role of Blockchain in Improving Cybersecurity for Your Busines

Ian Haynes
the role of blockchain in improving cybersecurity

Cybercrimes and data breaches are the biggest threat to the stability and reputation of your business. According to recent research, malicious hackers are attacking computers and online business networks every 39 seconds. Additionally, over 81% of the organizations surveyed during the study had reportedly fallen victim to a successful cyberattack.

The current security protocols can’t protect organizations from the increasingly complex cyberattacks that threaten them.

Lately, there’s been a lot of hype around Blockchain and its ability to make data sharing and networks more secure. It started out as the technology behind Bitcoin but has grown in popularity for its ability to mitigate cybersecurity-related issues.

This could perhaps explain why the global Blockchain market is projected to be worth $20 million by 2024.

Here are several ways that this distributed ledger technology can ensure security and maintain data integrity for businesses:

Secure Data Storage Solution

Your business accumulates vast amounts of sensitive data prone to cyberattacks. The inability to protect it can lead to huge losses for businesses worldwide. Even big companies like Anthem have suffered from data breaches that compromised over 79 million people's personal information. Centralized data storage solutions are even more vulnerable to hacks and cybercrimes.

However now, blockchain technology solutions offer a decentralized system that won’t let anyone into your storage systems without proper authorization. This decentralized form of data storage protects your sensitive data and makes it impossible for hackers to access it. This is one of the reasons why enterprises are considering Blockchain as a potential data security solution.

Offers IoT Security

Hackers use IoT devices to gain control over entire business systems.

Moreover, advancing Artificial intelligence (AI) has enabled hackers to override entire systems by accessing your staff’s IoT or edge devices, as these often have inefficient security features.

Blockchain technology offers security to these devices by decentralizing their management. It enables the devices to take action on their own rather than relying on a central authority. This protects IoT devices by helping you discover and stop suspicious commands from unknown networks.

It even makes it harder for hackers to access the device as it decentralizes the entire device management system.

Decrease DDoS Attacks

Hackers employ different techniques to launch cyberattacks that include sending vast amounts of requests to the website or directing a considerable amount of traffic to the site until it crashes. The vulnerability of your network to DDoS attacks could be attributed to the existing Domain Name System. This decentralized system is responsible for converting domain names into machine-based IP addresses.

Implementing blockchain technology would decentralize DNS, making it almost impossible for hackers to infiltrate and attack it. With this technology, the hacker will not be able to access single points of entry as it offers domain editing rights only to certain authoritative people or domain owners, so you can rest assured that they won’t fall into the wrong hands.

In Conclusion

Blockchain technology promises to reduce cyberattacks by offering a high level of data integrity owing to solid data encryption systems that facilitate business scalability.

But it’s most effective at decentralizing, i.e., removing the need for a single target or entry point that can be compromised. As a result, it becomes entirely impossible for malicious individuals to infiltrate your networks or systems because access control, network traffic, and data are no longer at the same location.

It’s time for small and big businesses to invest in Blockchain technology and experience sustainable and safe growth over the years.

More stories

Kubernetes to expand cloud possibilities
Kubernetes - The Ideal Cloud Platform Choice

Google’s Kubernetes cloud-based app deployment platform as an optimal solution for developers and businesses due to the framework’s versatile architecture and features like scalability, immutability and separation of concern.

Read more
create a GPS library model in android
GPS in Android as a Library Module Published on Jitpack via Github. Part 1

How to create a GPS library model in android and add Java class to implement GPS.

Read more
how to create a market-ready application
Considerations While Crafting the Optimal Web Application

Find out how to create a market-ready application based on changing consumer trends,

Read more
use a font without copyright infringement
How to Use a Font Without Copyright Infringement

How to choose the right font, whether freely available or purchasing a license, depending on your design needs.

Read more
Gamification and Animation in UX Design
Gamification and Animation in UX Design: Enhancing Engagement in UX

Gamification design to optimize UX and influence predictable reactions from users interacting with products via game-like environments.

Read more
The Role of Artificial Intelligence in Patents

How AI is changing the IP landscape by optimizing previously manually handled processes, such as patent searches.

Read more

Algo uses cookies for personalization and other purposes. Learn more about cookies use. Algo supports the Digital Advertising Alliance principles. By interacting with this site, you agree to our use of cookies.