The World is offering Smart choices. There is more dependency on Cyberworld jargons like Cloud Technology, Internet of Things, Artificial Intelligence, Blockchain Technology, Cryptocurrency, etc. But the real question is- Are these technologies safe enough to protect the data contained in its system? The answer would be Yes, No or Maybe!
Blockchain is one technology that has a soaring demand in the market. It is estimated that by 2022, there will be a whopping 12.4 billion US Dollars that will be spent on BlockChain worldwide! The global organizations’ C-suites’ favorite, BlockChain is one technology that adheres to safety and security to a larger extent. These global organizations can be any industries like banks, a chain of hotels or health care.
Securing data and safe proofing the credentials thereby nullifying fraudulent activities and data theft are very vital for an establishment like Block Chain industry. When it comes to data guarding, even end to end encryption or Public Key Infrastructure (PKI) cannot be a 100% dependable solution. But Block Chain can outsmart this short come in securing data.
Secured transactions and Data Encryption in BlockChain is not as risky as it is in other areas. What makes BlockChain unique in the Safety and Security aspect? There are two reasons for this:
- Cryptographic fingerprint for each block in the BlockChain.
- “Consensus Protocol” that validates the agreement of the various nodes in the network to agree on a shared history.
This is why BlockChain is generally regarded to be tamper-free and invulnerable to data theft. Cybersecurity is most righteously managed in BlockChain and the growing demand shows the organizations’ trust in the system.