Blockchain Application In Cyber Security

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Verifying the validity of software downloads/updates

Viruses, worms and the trojan horses that are ridden into our computers can come in many different forms and often difficult to spot.127 million new forms of malware have been developed over the past year. Most of these viruses may come in the form of a software download/phone application updates. The blockchain has the potential to assign unique hashes to downloads and updates. This allows users to compare the hash on their would-be  download with the developers hash to significantly reduce the chances of infecting their systems with malware.

 

 

Mitigating denial of service attacks

A distributed denial of service attack occurs when a network is intentionally flooded with unsustainable amounts of traffic which may result in a crash. Blockchain companies are able to protect against DDos attacks by allowing users to join distributed networks that serve to augment the security of the network coming under fire. This also includes the potential for users in a network to rent out their extra bandwidth to support networks which are being overloaded with traffic hence stopping the hackers from executing an attack.

Biometric private keys/digital identities to replace passwords

Passwords are by and large an extremely penetrable layer supposedly protecting our most valuable information for example;Facebook stated that users’ accounts are hacked 600,000 times per day. The problem with passwords is that;

  1. We have to keep changing and updating them which can lead to a glut of random characters that we cannot keep track of.
  2. Most of us refuse to live by the tyranny of password updates, so passwords can become stale and predictable. More than 50% of security professionals haven’t changed their social media passwords in a year. Hackers can still exploit your password no matter how frequently you change your passwords. The blockchain does not require passwords because it relies on biometric data or private keys and multistep authentication to ensure that a user is who they say they are. This system is therefore more secure, easier and more efficient than using the traditional systems.

Prevent hacks on automated systems

The rise of smart devices and other largely autonomous technologies has also opened up the public to unprecedented levels of hacking and data compromise. The internet of things has provided a more scenic route to hacking that is less prone to early detection which may arise from phishing scams. Hackers can jump through a network of connected devices. The ability to intrude upon an entire connected network through a single point entry represents a flaw in IOT connected devices and their networks. Blockchain technology can be used to recognize invalid or potentially corrupt commands and inputs. The ability of algorithms to be constantly at work recognizing unrecognized or threatening intrusions may allow for the convenience of automation without the risks that come with lax manual oversight by users.

More secure DNS

Domain name system is partially decentralized meaning that hackers can exploit the connection between their ip address and the crash the site. This has resulted in retailers losing loyal customers and businesses due to temporary shutdowns caused by a DNS attack. Some common tactic of DNS hackers include DNS cache poisoning which results in users being redirected to scam websites. Attacks could result in the overload and complete shutdown of a site. The blockchain, completely decentralized by nature has been pushed as a host for the DNS system. The benefits of this proposal include stronger, decentralized security that would represent a needed break from partially centralized system that contains single access points of vulnerability.

Decentralizing data storage to remove honey pots

Storing data in a centralized database with a single, vulnerable point of access is reckless in this day and age. The number and magnitude of data breach is simply astounding. Consumer trust has been degraded since most companies nowadays are complicit in compromising their customer’s sensitive data. The blockchain is decentralized by nature which means there is no single point of penetration by hackers. This therefore; results in a safer and more secure form of data storage.

Distributing public key infrastructure and multi-signature logins

Usernames and passwords for a given site or application are stored in central databases that are vulnerable to hacking. Once a hacker has granted access to the central domain, containing hundreds, thousands or millions of users’ login credentials, they have a virtual vault ,security measures abound. This is precisely the problem with the username password login framework and highlights why a superior method of online security is much needed. The blockchain is decentralized by nature, restoring critical information across several nodes to mitigate the risk that comes from any single node being compromised.Blockchain also operates on a multisignature authentication mode hence confirming that they have access to multiple devices.

This is a more secure means of granting access to a network, which could ultimately reduce that ease and frequency of hacks and better protect sensitive, valuable user data

Preventing false data from entering a system

Regardless of the industry, the cost of bad data and false positives in detecting and rooting out fraud and inefficiencies is significant. Algorithms used to fight fraud are largely effective in detecting inconsistencies, they cast such a wide net that they often incur greater administrative costs. Algorithms however flag thousands of legitimate transactions resulting to customer loss and additional costs for companies.

Data that is filtered through a decentralized blockchain network tends to be more trustworthy as the multi-node security lends itself to greater verification and tamper prevention. Data stored on a blockchain linked network can inspire more confidence for participants because the threshold of veracity is higher than single source centralized networks