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Video transcript for 'What is the fit between Blockchain and Cybersecurity?'
What is Blockchain? A blockchain is basically a decentralized, digital, and public ledger. It is a global online database which anyone, anywhere, with an internet connection can use.
A blockchain is a continuously growing list of records, mostly known for being a support for cryptocurrency. Each block is linked and secured using cryptography.
What is the fit between blockchain and cybersecurity?
- Distributed and decentralized:
- No single location or central authority
- Each block has multiple copies, stored in several locations.
- Prevents human intervention from becoming an attack vector.
- Each block contains a cryptographic hash that is computationally irreversible.
- Each time new data is stored in a new block, a new key is cryptographically created.
- In this manner, the data is extremely secure and the threat of a possible attack is reduced.
- Available and confidential:
- Public-key cryptography authenticates users and encrypts their transactions, ensuring confidentiality.
- In the case of DDoS attacks, the system will operate as normal thanks to multiple copies of the ledger.
- Blockchain technology has no single point of failure.
- Transparent and auditable:
- Every transaction is timestamped and signed digitally so that it may be traced back and located.
- Blockchain offers companies a level of security and transparency over every iteration and ensures that the data has not been subject to tampering and is authentic.