Blockchain and Cyber Security
Bitcoin, which is one of the digital currencies close to centralization with the P2p protocol, has been actively used since 2009. Crypto coins are located in the structure of blockchains on computers connected with the same protocol. Blockchain has an ever-expanding data structure and they are prone to making smart deals. Applications that add new codes can be developed through these agreements. There are miner-like systems in this chain and these systems keep the chains containing many transactions available. These blocks are in a nutshell link with the previous blocks. It develops different APIs in the infrastructures of different cryptocurrencies. Various blockchains establish smart contracts and implement a variety of applications. Blockchain is also used here for the protection of personal data.
In addition to being used as a database, blockchain technology can be used to regulate official transactions such as monitoring supply chains or even voting. In addition, it is suitable for use in the protection of intellectual property rights. Blockchain can play an important role in preventing malicious attempts by securely storing its data in the form of “sensitive data” and accessing it chronologically quickly.
Blockchain gathers transactions in blocks, the participant who added the block; or obtain the approval of other participants, updating the scattered ledger and connecting it to the blockchain using Blockchain Mechanisms. Security mechanisms can be provided for blockchain, for example;
Encryption can be provided by using public or private key methods, or each block stores data blocks sequentially using the previous or next blocks, so data tampering can be avoided. A new report from MIT says that although Encryption offers some protection, it does not prevent system errors. Additionally, according to the report, it was noted that there were numerous errors that allowed cryptographic protocols to be compromised.
If you ask where is cyber security in this system;
Since cybercrime has been increasing rapidly since 2018–2019, individuals, institutions and governments have now turned to take serious measures in this regard. In the past, it was inevitable to use strong and complex encryption methods, firewalls and anti-virus programs to protect software. However, nowadays these methods. As a matter of fact, these methods have lagged behind in their time.
Blockchain, which is our subject, will help the strongly based and protected network technology for cyber security systems through algorithms that will prevent cyberattacks. It also has the ability to protect all data types as unchangeable, transparent, time-stamped and asymmetrically encrypted.
