Blockchain technology is arguably one of the most important inventions in the information age, and it extends beyond the vestiges of cryptocurrencies. It has massive potential to solve problems, particularly inefficiencies in a number of information processing systems, like legal contracts, escrow services, and supply chain traceability.
At its core, the blockchain is designed to serve as a “decentralised ledger” that eliminates friction and maximises efficiency in secure transactions. It is effectively immutable, thanks to the verification process that includes every single node or “block” ever created within the chain. Should hackers attempt to tamper with a blockchain’s data, they need to seize and change every other node as well. In other words, it is virtually impossible.
However, it’s clear that the blockchain technology is still in its infancy, especially when it comes to its role in the cyber security space. But that didn’t stop a handful of innovators from taking blockchain out for a spin.
Here are five applications of blockchain in cyber security that businesses can use today:
1. DDoS Protection
In the digital age, a Distributed Denial of Service or DDoS attack is among the most troublesome security threats that can compromise the stability of businesses. It’s the act of overloading an online service, …