Nowadays data is king in the online world. Data are playing a major role in every individual’s life!
Whether users want to pay their bills or want to do any kind of transaction, everywhere data plays a vital role. And here the question arises whether the data we are using or consuming for our purpose is safe. Whether it’s secure or not?
Well, for answering the above questions, we need to have an idea of how data are working in this digital world.
All the content we see online are having two sides one is the client side and the other one is the server side. The client side is used in the front end which is seen by the users to consume content or use the data for purchasing, transactions, and many more. Whereas the server side is used by the person who has created the website or application. The server side has the access to modify the data in terms of resetting, destroying, and many more ways.
As we have heard that data are also being controlled. So, the security of data can be the biggest concern for the users. Here question arises that whether there is any technology present that is more reliable in terms of securing data.
Yes, blockchain technology can solve the majority of the security issues of data and it is considered more powerful in the tech industries. As it is leading in the market because of its unique features which other technologies can’t provide.
Again the question arises, why blockchain cannot be hacked? How does blockchain secure data? Can blockchain be hacked by anyone? Let’s go deep dive into blockchain technology.
Can blockchain, be considered an innovation of technology?
The data are stored in a particular space and handled by a particular person or company. But, blockchain works on decentralized technology. Decentralization means that the data is not stored in one place.
It is stored in a different -different places. That’s when hacking blockchain can be next to impossible. It is not a centralized system nor there is anyone to control it. In the blockchain, data or pieces of information are stored in a form of a block.
The database becomes more reliable with the help of blockchain. As the blockchain is decentralized, it is accessible to everyone. Blockchain can be considered an innovation for the tech industry because it provides the best security than any other technology in the market.
How does blockchain protect data and provide security to users?
All the users have their information which they want to be secure. Here, blockchain plays its role. It stores any information in the form of blocks. It is not physically present rather its presence can be shown by digital media.
The users always try to store data or their information in a structured way. In the same way, blockchain stores information. All the information is stored in the form of blocks in a structured manner. Every individual user can create separate blocks to store their data. Every block is made up of three things:-
- Both data and information will be provided by the user to the blocks.
- Each block will have its fingerprint known as “hash”. Hash provides some unique id or code for the data that makes each block different from the others which is helpful for the users as well in storing their information safely.
- Every block stores the fingerprint of the previous blocks and the process goes on. With this method, the chain becomes stronger and hard to break. This makes the information more secure.
Now the question comes why blockchain cannot be hacked. And it’s simply due to its complex structure, it is hard to crack the security.
Few major applications and uses of blockchain:-
Well, blockchain was first discovered in cryptocurrency known as Bitcoin. Cryptocurrency is a medium to exchange currency using digital media with low to no cost. The role of blockchain has a major impact and here we will cover it.
- Data Storage & Securit:- Blockchain can be the best technology for storing data because blockchain works on a decentralized platform. So it is next to impossible for an individual to hack the data. As an extreme amount of data is added to it, it becomes way more complex to break out. In this way, blockchain provides greater access to the data and this environment is accessible to multiple users at the same time without damaging its integrity.
- Financial and Banking Domains:- Many Companies and Banking Sectors started using blockchain as it is less expensive with the worth it is providing to the users. Even the transaction process is more smooth and more reliable. Moreover, the special quality is that the exchange of currency becomes more trustable because there is no presence of a third party or middlemen in between the process.
- Voting in Government Sector:- Voting can become more secure with the help of blockchain. Blockchain technology can reduce the duplicity of votes. Eligibility criteria can also be verified. As the blockchain is a digital-based technology, it is easier for users to press the voting button with the help of their smartphone. Government can also use blockchain technology for saving the government identities of their users which will be more secure and easily accessible in this digital era.
Explored the use of blockchain, now let’s see, can blockchain be hacked? Meanwhile, we are also getting the security question.
Is blockchain completely secure?
Blockchain has a very complex structure and even if it is decentralized, it can’t easily lose its integrity. Despite all these facts, there is no assurance that blockchain is completely secure. The major characteristics of blockchain which plays a vital role in security purposes are:-
- Decentralization
- Cryptography
- Consensus
With these properties blockchain can’t hide any information and it is open to all the users to modify, change or delete the data. It is not ruled by a particular person or party.
Due to its “hash” property, it becomes impossible to break or hack as it will consume lots of time and energy. As we all know that nothing can come in a forever-guaranteed manner. In the same way, blockchain also has its drawbacks.
What are the possibilities for blockchain to be hacked?
Technology like blockchain can’t be so easy to crack because attacking becomes tough as blockchain has multiple blocks. And attacking a single server is not so stressful as attacking multiple servers that are connected in such a complex manner.
But even if it is a powerful technology still there will be some possibilities to crack it, like:-
- The software of blockchain can be hacked when the system is preparing. At the same time, a hacker can smartly play their game in stealing information.
- One of the common ways that hackers can steal data is crypto. As cryptocurrency is completely based on blockchain.
- Through nodes of computers, it can be hacked.
With these few ways, the algorithm of blockchain can be cracked.
Conclusion:-
Blockchain is one of the promising technology to protect data. It has a few drawbacks. But it is one of the most reliable and trustable technology in terms of providing security to the data.
By coming to the end of the discussion, it concluded that exploring blockchain is the best choice to shield the information.