HOW SECURE IS BLOCKCHAIN?
Many are praising blockchain technology as a security innovation because it gives a trusted ledger that shifts data storage and protection from a centralized to a decentralized model but blockchain isn’t a perfect solution. Like any system, it has points of vulnerability. Therefore, you should be familiar with those points of vulnerability if you plan on investing in cryptocurrency. And, if your business will have any dealings with blockchain in the future, then consider these issues with blockchain security:
BLOCKCHAIN SECURITY SOUTIONS
This is an integral lesson: Blockchain is a support tool for bitcoins and leverage other models to stay secure. Blockchain alone is not secure. It is just a distributed database ledger. IT SEC will secure blockchain implementations by:
- Powerful access management to protect all privileged access to the host is controlled and properly delegated
- Risk management to secure the host and applications from tampering that could prompt to inappropriate read or write blockchain ledger entries
- Reinforce management for prompt remediation, mitigation, or hardening to reduce risks