Cybersecurity has emerged as a grave concern for many businesses. Organizations now store large amounts of data on the web. Many transactions are conducted online as well, while numerous activities and workflows are coordinated through connected apps and devices. Unfortunately, this heavy reliance on the internet leaves companies vulnerable to hacks and exploitation.
Cybersecurity experts are constantly looking for new solutions and measures to address this. Now, many blockchain developers are working on cybersecurity solutions too, which can potentially redefine the security field as blockchain has several inherent traits that can resolve specific threats.
Now that blockchain has become one of the hottest cybersecurity topics, some experts believe that it could shake up the industry while others write it off as a buzzword. Which view is right, it could the answer fall in-between? Let’s see.
What is blockchain?
Bitcoin popularised blockchain, but it’s a technology in its own right. Basically, blockchain stands for a public ledger that records and verifies every transaction, whether with cryptocurrencies or other. ‘Blocks’ of transactions are verified, processed, and then added to the ‘chain’, creating an immutable record.
Some security experts believe that blockchain offers several inherent advantages for cybersecurity. Writing for Infosecurity Magazine, Savaram Ravindra argues that such distributed …