It is fair to say that, in the fast-evolving worlds of Data Science and Big Data, Blockchain technology is the newest emergent data encryption technology and therefore worth any company taking a look at!
How does it secure company data?
First of all it removes any need for any kind of middleman (such as, for example, you would have in the Banking Swift network) and secondly, it provides a virtually un-hackable level of data encryption.
Anattack,or penetration, of blockchain protectedcompany data would thus be too much of a test for any enemy to easily overcome.
Companies would most certainly benefit from adopting block chain technology; Banking, IT, Financial Services firms and any business relying on secure data transmission,such as the military services, are all investigating rapid adoption of the new tech.
From SME’s to the likes of Microsoft, the benefits are tangible. For instance, in the case of a company such as Microsoft, secure delivery of their software over the Internet is a must. If the data is corrupted or altered in any way before it reaches the end user then there could be a problem impacting severely on the business itself.
Blockchain encryption for any company
Any business, or organisation, needs to ensure the safe and secure transmission and reception of its valuable company data. They need to protect both their own and their customers data as securely as possible from the attentions of both cyber criminals and perhaps nation states eavesdropping too!
With most existing IT security protocols and safeguards there are unfortunately, all too often, security vulnerabilities and exploits that can be used against those protecting such corporate or company data.
Secure block chain encryption technology bypasses the many existing flaws of current IT security and offers additional layers of security. Blockchain works by not using any middle ware technology together with some of the most advanced crypto tech that has yet been devised.
The removal of any central ‘authority’,or middleman, and the ‘trust’ that would thus be required makes this technology more secure than other methods.
Blockchain in a nutshell
Lets take a xloser look at the major elements of this exciting new blockchain technology and how it all works.
- Blockchain consists of entities called both ‘miners’ and ‘hosts’.Miners are the computers that are used to calculate a solution to a sophisticated mathematical equation. Hosts are the clients.
- Blockchain uses an advanced type of arithmetic called ECDSA or anElliptic Curve Digital Signature Algorithm. This may all sound like gobbledegook so far but stay with us! Within the miners, Asymmetric Key Cryptography is used as the data encryption technology.
- A transaction enters the network and then the data miners will utilise their raw computing power to solve the transactions ECDSA equation. After repeated computation, the equation is finally solved and success is achieved the transaction is verified by the solutions output data, which is matched with the data string that was first input to confirm.
- When the match is successfully made, the transaction is then added to a network of ledgers, which is basically the accounting system of the blockchain network. The systems historic record of completed transactions is stored here for the clients benefit in the future.
- Finally, it should be noted that Paired public/Private key technology would then protect the output solution, meaning that a hacker cannot alter or corrupt any solution record within the blockchain network.Encryption can be increased or decreased depending on requirements of the clients using the network.
If you are seeking any advice regarding blockchain and IT or website penetration testing in general then contact the one company that is the true expert in blockchain technology! Security Audit Systems is this company. Contact them at: https://www.security-audit.com/company/
With a blockchain and pen test partner company such as the team at this organisation, your data will be far more secure than ever before.