Decentralized Storage Solutions
Data is becoming a more valuable currency than well…currency. Your business accumulates tones of sensitive data about your customers. Unfortunately, this data is also quite attractive to hackers. And one of the most useful things you do for cybercriminals is to store all of it in one place. It’s a bit like storing all of your cash and jewellery in a shoebox at home, then being shocked when a burglar walks off with the entire thing. Unfortunately, businesses are still using centralized storage when it comes to data. However, this appears to be changing slowly. Blockchain-based storage solutions are gaining popularity. For instance, The Apollo data cloud (developed by Apollo Currency team) allows users to archive data on the blockchain and grant permission for accessing to third-parties. The cryptographic access key can be revoked at any time, further reducing the risk of a breach. Thanks to the decentralized nature of blockchain technology, hackers no longer have a single point of entry, nor can they access entire repositories of data if they do get in. This feature is one of the main reasons why enterprises are now considering blockchain as a data privacy solution
Hackers often gain access to systems by exploiting weaknesses in edge devices. These include routers and switches. Now, other devices such as smart thermostats, doorbells, even security cameras are also vulnerable. Simply put, the rigorousness is often not applied when ensuring whether these IoT devices are secure.
Blockchain technology can be used to protect systems and devices from attacks. According to Joseph Pindar, co-founder of the Trusted IoT Alliance, blockchain can give those IoT devices enough “smarts” to make security decisions without relying on a central authority. For instance, devices can form a group consensus regarding the regular occurrences within a given network, and to lock down any nodes that behave suspiciously.
Blockchain technology can also protect all the data exchanges happening between IoT devices. It can be used to attain near real-time secure data transmissions and ensure timely communication between devices located thousands of miles apart. Additionally, blockchain security means that there is no longer a centralized authority controlling the network and verifying the data going through it. Staging an attack would be much harder (if even possible).
DNS is mainly centralized. As a result, hackers can break into the connection between website name and IP address and wreak havoc. They can cash websites, route people to scam websites, or simply make a website unavailable. They can also pair DNS attacks with DDoS attacks to render websites utterly unusable for extended periods. The current most effective solution to such issues is to tail log files and enable real-time alerts for suspicious activities.
A blockchain-based system can take security one step further. Because it’s decentralized, it would be that much more difficult for hackers to find and exploit single points of vulnerability. Your domain information can be stored immutably on a distributed ledger, and the connection can be powered by permanent smart contracts.