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Blockchain: revolutionizing the technology industry or simply Hype?

The guarantee of integrity that a piece of a track is not changed, whether it is data or software, remains a significant challenge in the IT industry.

The guarantee of integrity is incorporated in many databases; helps to ensure that data is not changed unless it is performed in a well-regulated / controlled manner. In addition, the Trusted Platform Module (TPM) and Secure Execution platform proposals such as Intel SGX and ARM TrustZone ensure measurement and reliability of integrity. In these solutions, the measurement of integrity is not historical but is related to the current state of data or software.

However, if the question is how to maintain even historical integrity values ​​that can be easily verified, simple hashing (hashing table) or Merkel Tree style solutions have limited applications. Two considerations add even more complexity to this question; 1) no entity should be able to change historical integrity and records, and 2) all information will be in the public domain. People have proposed blockchain as a possible answer, but the question remains …

Is Blockchain the solution?

The task of designing a decentralized (digital) online currency involved addressing specific security issues that included negotiating an immutable record of public transactions. For the immutability function, blockchain integrated in bitcoin architecture. Blockchain is basically a series of linked record lists called blocks. Each block has a strong cryptographic property of immutability provided by cryptographic hashing algorithms.

The characteristics of immutability do not protect from a powerful entity with total control of the blockchain. This is one of the main reasons why it is essential in bitcoin architecture to have a majority consent when accepting a chain lock. With the distributed nature of the mining community, bitcoin architecture seeks to protect powerful entities from block modification.

However, on a precautionary note, if a (Read more …)

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