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IT security is a major concern for organizations around the world and strive to achieve the same result. The centralized storage system makes data highly vulnerable to cyber threats. Data in the current age is crucial and its loss can be serious for companies. The blockchain is one of these technologies that seems to possess the potential needed to overcome current IT security challenges. This technology has more intrigued researchers with its characteristics and believe it would exceed existing cloud computing technology.
What does Blockchain offer?
Blockchain is a decentralized ledger with which it is protected cryptographic security and supported by immutability and self-authentication functionality. The decentralized registry eliminates the intervention of a third party and possession of data. Entities in the chain network can store data but no single entity will have complete control over it.
The immutability function limits any entity to modify or tamper with data already stored, but all entities can view the data available in the blockchain, which injects transparency into the network. Blockchain auto-authenticates each user and only after proper validation can you access the network, even the archived data is encrypted with encryption, adding an additional level of security against threats.
Each transaction is stored in the blockchain itself, which means that a transaction trail is available for the longest period and data validation is possible. Real-time data sharing is also exploited by blockchain technology.
Check it: Best computer security companies
What holds the blockchain?
With such great features, the technology seems to be revolutionary, however, has not seen many applications in addition to cryptocurrencies. The absence of the rollback function is a drawback that hinders the expansion of the blockchain. Once a transaction has been made in the network, it is not possible to roll back that can sometimes result in permanent loss of important data.
For cases of human errors blockchain technology it still requires a solution. Because blockchain does not allow access without validation, in scenarios where credentials are lost, valuable data should be lost and this is more about the organization.
Furthermore, the technology has not yet found a correct implementation apart from the cryptocurrency. Companies are reluctant to share their valuable data for development and pilot purposes; as a result, the exploration of blockchain technology could not happen accurately. A significant contribution is required for the development of any technology, and the blockchain lacks more.
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