Digitization has been both a boon and a bane for businesses that operate on digital network platforms. Cyber-attacks and data breaches continue to haunt online activities at damaging levels. As this scenario continues to escalate in the IT security domain, it is not only the small businesses that fall prey to the attacks but giants like Facebook, Yahoo, and Microsoft are becoming the victims too.
Ransomware attacks and other forms of data breaches have become a daily challenge for online businesses. Recent statistics show that even inviolable state procedures like the Presidential elections are not safe from these attacks. Cybersecurity is not a concern only to the companies alone, but also to government organizations.
For the development of viable cybersecurity strategies, it is important to deeply analyze the cyberattacks for secure data integrity and information security. Blockchain has evolved to become one of the most secure forms of transactions in the digital world. As per the design and intention, technology is credited for the assurance it offers to IT security.
Below are the top 9 ways by which Blockchain technology refines the Cybersecurity domain.
With the Internet and Metaverse shrinking the world into a small virtual dimension, more and more users are joining social media and networking. The number of social media platforms and apps is gaining popularity. Tons of metadata are collected during these social media interactions. Most users protect their services and data with not-so-reliable passwords that can be easily manipulated by hackers.
Messaging companies are adopting Blockchain for securing the user data as the superior end-to-end encryption. Blockchain creates standard security protocols. It can also be used to create a unified API framework.
Numerous attacks have been reported on various social media platforms like Facebook, and Twitter in recent years. These social media attacks resulted in data breaches accounting for millions of accounts being hacked and sensitive data landing in the wrong hands. Blockchain technology can prevent such cyberattacks and secure the private messaging industry.
Hackers have access to edge devices including thermostats, and routers, to gain access to overall systems. With a huge obsession for Artificial Intelligence, it has become easy for hackers to access the systems such as home automation through devices like smartwatches, and other IoT-enabled devices.
In this case, Blockchain technology can be used to secure the overall systems by decentralizing the administration. This approach will give capabilities of the device to make security decisions on their own. Decentralization improves security by detecting and blocking suspicious commands from unknown networks.
Usually, cybercriminals penetrate the central administration of devices and automatically gain complete control. By decentralizing such authority systems, Blockchain can prevent the execution of such attacks.
Distributed Denial of Service (DDoS) attack occurs when users of a target audience such as a network resource, server, or website are denied access or service to the target audience. DDoS attacks slow down the resource systems and servers.
On the other hand, the Domain Name System (DNS) is centralized and this makes it the perfect target for hackers who infiltrate the connection between the IP addresses and the name of a website. This attack leaves websites and servers inaccessible and redirectable to other scam websites.
Fortunately, Blockchain can be used to eliminate such attacks by decentralizing the DNS entries. Decentralization removes vulnerable points that are exploited by hackers.
Online thefts and business data hacks are becoming a primary evident cause of concern to businesses and organizations. Many businesses still use the centralized form of storage medium. To access the data stored in these systems, the hackers exploit a single vulnerable point. Such an attack makes sensitive business data accessible to cybercriminals.
Blockchain protects sensitive business data by decentralizing data storage. This mitigation method makes it harder for hackers to penetrate the data storage systems. Many storage service companies are assessing several ways to implement Blockchain for complete data protection.
Blockchain ensures the integrity of software downloads to prevent foreign intrusion. By incorporating Blockchain, companies can verify patch updates, software installations, firmware updates, and other operations. Software integrity blocks the entry of malicious software onto vendor websites.
Sometimes, the hashes on the provider’s platform can be compromised. But in the case of Blockchain, the hashes are permanently recorded and stored. The information recorded, cannot be manipulated in any way. This approach verifies software integrity by comparing it against the ones on the Blockchain.
The practices like system misconfiguration, data tampering, and more have destabilized the integrity of the information generated from cyber-physical systems. However, Blockchain can be utilized to authenticate the status of any cyber-physical infrastructure. The information generated from the infrastructure’s components through Blockchain technology adds data integrity to the complete chain.
Blockchain prevents unauthorized access to data in transit. By implementing encryption, data transmission can be secured to prevent malicious activities.
Hackers with the intent of tapping data to alter or delete it leaves the not-so-secure communication channels (including emails), vulnerable. Blockchain safeguards the integrity of data and prevents unauthorized access by hackers.
With innovative technological advancements, we have seen unmanned public transportation and futuristic military equipment. These weapons and automated vehicles are possible because of the smooth data transfer to the remote-control databases. Hackers have been able to break these networks and gain access to sensitive data for personal gains.
When tapped into networks such as the Car Area Network (CAN), hackers can gain complete access to automotive functions. Such scenarios can leave a direct impact on human safety. Blockchain verifies any data going through such systems and prevents unauthorized activities.
Blockchain makes data transparent in the financial systems which is the reason why it can be used as the new standard for transparency. Network participants can access the transactions of the public addresses using a block explorer which is used to search the different blocks of the chain.
In the case of Cybersecurity, decentralized is accessible. As per the in-depth analysis and reports, many assert that the security solutions are performing as they are supposed to. But one cannot ignore the fact that businesses are paying for fake analyses where bias may come into the picture. But with the transparent Blockchain, these biases can be eliminated.
No matter how Blockchain is utilized, the key component is decentralization. This feature eliminates the single target point that can be compromised. As a result, it becomes impossible to infiltrate the network systems whose data storage, online traffic, integrity, and access control are not in a single location.
Thus, Blockchain is one of the most efficient mitigation strategies in the IT security domain. Deep Tech is the future and to safeguard your data in the digital era, you need an IT solutions partner. DRC Systems offers world-class cyber security solutions to organizations worldwide. Our dedicated developers and cyber security professionals conduct real-world testing of your networks, devices, and systems to identify the vulnerable access points. We also determine the threats and security issues that compromise your valuable data. Contact DRC Systems today for Blockchain solutions and stay secure in cyberspace.
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