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Fremont, CA: In recent years, the cyberattack landscape has grown at an exponential rate. In recent years, there has been an incredible rise in the number of data breaches that have resulted in significant financial losses and have harmed business reputation. In this scenario, blockchain is gaining traction as a promising cybersecurity mitigation technology. The evolution of blockchain as a distributed ledger technology has been compared to the early growth of the internet, with several debates about its potential in a variety of industries, including healthcare, manufacturing, finance, energy, and others.
Blockchain is best known for its secure network of distributed ledgers that protects sensitive information. Aside from that, technology makes people's daily interactions with technology more accountable. Businesses can effectively incorporate blockchains into their cybersecurity initiatives if they know where to look for them to protect critical and sensitive data, cryptocurrency and other digital assets, and smart contracts.
Let us look at some most promising blockchain use cases for cybersecurity.
Security flaws and challenges have long been connected to internet of Things (IoT) and other connected devices. With the rise of artificial intelligence, hackers can now gain access to a company's or an individual's overall systems via edge devices such as smart switches. In this context, integrating blockchain into the security framework of an IoT system allows IoT devices to securely communicate with other devices, encrypt machine-to-machine transactions using distributed key management techniques, and authenticate the integrity and legitimacy of software image updates as well as policy updates.
Eradicating DDoS Attacks
A distributed denial-of-service (DDoS) attack is a malicious attempt to disrupt normal traffic to a specific server or network by flooding it or its surrounding infrastructure with Internet traffic. These attacks have been observed to compromise connected devices such as routers, webcams, smartphones, vacuum robots, and so on in order to launch attacks. A number of new types of DDoS attacks, such as the Hide and Seek malware, are emerging at an alarming rate. It keeps working even after the system has been rebooted. As an immutable and cryptographically secure system, blockchain can be an effective solution to such attacks. Many blockchain service providers claim that their solutions can protect against DDoS attacks by allowing users to join distributed networks.