Skip to main content

Blockchain's biggest challenge: Securing the world’s most secure technology

posted onNovember 15, 2018
by l33tdawg
Information Management
Credit: Information Management

“Blockchain, it’s an immutable distributed ledger,” is something we’ve all heard from bitcoin enthusiasts time and time again, but what does that really mean? How safe is it? How can we secure tech’s most secure technology?

An immutable distributed ledger sounds complicated but at its core, the idea is simple: blockchain works as a shared record of information that multiple parties reference and can observe any addition made to it.

Any questionable addition to the blockchain will always be recognized by the other holders of the same record. The questionable addition is then compared against the records held by every other party to determine if it was indeed a legitimate addition. If a transaction is legitimate, it is added to the record permanently. Blockchain was created to be a trustless self-regulating system to facilitate the transparent exchange of information between parties while protecting the privacy of all involved. However, the groundbreaking technology isn’t without vulnerability, one that hackers are already busy exploiting.

Source

Tags

blockchain Industry News

You May Also Like

Recent News

Tuesday, November 19th

Friday, November 8th

Friday, November 1st

Tuesday, July 9th

Wednesday, July 3rd

Friday, June 28th

Thursday, June 27th

Thursday, June 13th

Wednesday, June 12th

Tuesday, June 11th