What is Blockchain?
Conventionally, we had a habit of maintaining everything in a centralized repository and safeguarding it by applying perimeter security. Blockchain is a current breakthrough technology which eliminates centralized concept and show cases the shared, distributed updated records of who is doing what. Although it is decentralized, it supports access rights and is secured by nature. Being immutable as one of its characteristics, it gives us more trust.
Application of Blockchain in Cyber Security
Cyber security needs much more attention to fight against adversary; blockchain will really be helpful to achieve this. Already some organizations have started addressing the loopholes in security. At present we are using PKI (Public Key Infrastructure) structure to verify the parties in network communication, but Guardtime went further and implemented KSI (Keyless Signature Infrastructure) through that we can see this as the next step of evolution in cyber security.
Identity and Access Management is the important factor to authenticate the legitimate user, but this as the solution will not be adequate for the current scenario, hence we need a better solution because of spoofing. To address this, REMME came up with the solution by using blockchain technology to authenticate user in a distributed manner.
Right now all major vendors understand the importance of blockchain and are trying to address various issues with the help of blockchain technology. Some of them are Microsoft Azure providing Blockchain as a Service (BaaS), IBM Blockchain Platform and even banks are trying to implement this, to do transactions using this essential technology.
Will Blockchain Redfine Cyber Security?
By default blockchain provides us integrity but the question arises whether CIA (Confidentiality, Integrity, and Availability) is attainable or not because we can’t achieve full-fledged security with integrity alone. Using blockchain as an underlying technology Bitcoin is being widely used without any inconvenience, this is one of the proofs of concept showing that we can successfully implement blockchain in cyber security.
So with this we can say that blockchain can revolutionize the cyber security by applying it in network communication and IoT (internet of Things). It all depends on the security protocols and algorithms which we are using to build blockchain in cyber arena. But we can clearly see that blockchain is one of the most trending technologies and it will change the way we use the internet.