An Overview of Blockchain

Blockchain is a network of digital immutable ledgers that allows for reliable and transparent transactions between users. This ledger is built on a decentralized database that stores information in a series, and these series are called "blocks", and these series of information called blocks are stored in a "chain-like" shape. Hence, the name "Blockchain" came to be. Each of these blocks contains information about assets that could be tangible( Lands, houses, money, etcetera ) or intangible( copyright, branding info, etcetera). Hence these blocks are protected with a unique photographic code and a record or proof of transaction confirmed by the network of participants.

Blockchain is built on a decentralized network, meaning it has no central server that holds all information, this way it becomes hard for hackers to attack the network and succeed. There is no point of control in a blockchain network or intermediaries between transactions.

In recent years, blockchain technology has grown exponentially and is used in different aspects of cryptocurrency, and the creation of NFT( Non-fungible Tokens)Web 3 is also built on blockchain technology.

In case you were previously not aware Blockchain is not just cryptocurrency or crypto.

CyberSecurity

Due to the significant increase in Cybercrime recently, there is a need to protect these networks and all the databases, and this is where cybersecurity comes in.

It is the art of protecting computer networks and digital information from hackers and unauthorized access, and loss from other cyber attackers. It is a crucial part of the digital world, for without it many companies, industries, and even individuals will be doomed.

Blockchain in Cybersecurity

As we have had an overview of what blockchain and cybersecurity are all about, let's see how blockchain could be used to revolutionize the area of cybersecurity and data protection. Below are some of how blockchain technology can help improve cybersecurity;

1. Encryption: The information or data stored in the blockchain is highly encrypted with unique cryptographic keys. Even if the attacker gains access to the system, they won't be able to access the information without the unique key. This method helps protect and secure data.

2. Immutability: Data stored on the blockchain cannot be changed or deleted once stored. That is to say, if there is any attempt to alter or access them, it would be detected. It could be implemented in the protection of other digital assets or information.

3. Decentralization of Data and information: By decentralization, we mean that data or information stored in the blockchain is stored across nodes of computers or servers, unlike the traditional way whereby information is stored in a single server, making it easier for cyber attackers to gain access to multiple pieces of information.

4. Use of Smart Contracts: Smart contracts are codes programmed to automatically enforce or execute certain tasks. There can be used to reduce human errors in the networks. As well can be used to perform actions like self-destruction, or closure when there is the detection of unauthorized entry.

5. The use of a Consensus Mechanism: The consensus mechanism is a pivotal part of blockchain technology. It allows multiple participants to determine the current state of a block. There is no need for a central network here. Some of the consensus mechanisms used in blockchain are Proof-of-Work(PoS), Proof-of-Stake(PoA), Proof-of-Authority(PoA), and Delegated Proof-of-Stake(DPoS). You can read more on the consensus mechanism on the Ethereum Docs.

These points are some of the blockchain areas that can be implemented in cybersecurity to enhance the protection of networks and digital data.

Thank you for reading, please leave a comment below, it would improve my writing.