Skip to content

How can traditional tools secure and speed up blockchains?

--Advertisements --

Get trading recommendations and read reviews on Hacked.com for only $ 39 a month

This article was written by Pini Raviv, a software engineer and team leader front-end for a company based in Israel. Start. A bitcoin enthusiast spends his time searching for altcoins, extracting Ethrereum and blogging on blockchain

Blockchain technology is often hailed as safe and incorruptible, mainly because of its decentralized and immutable nature. Because it's notoriously difficult to manipulate, many believe that the blockchain is the perfect tool for building systems that are immune to fraud and corruption.

There is certainly true – blockchain has the potential to provide systems without a central point much safer and more robust than traditional software – while being faster, smoother and more efficient.

However, blockchain is not invincible. Networks are still vulnerable to attack, which could compromise the consensual mechanism of technology that "hack" a chain of blocks or seriously slow down a system.

To get an idea of ​​what might happen, it's important to take a look at the infrastructure of the blockchain.

-- Advertisements --

Mechanisms of consensus in blockchains

When minors add a new block to a blockchain, they have to make sure of certain things. One of their main tasks is to make sure that the new block is the only possible version – avoiding "forging" where the chain splits into two separate paths of blocks.

Blockchain technology uses consensus mechanisms to guarantee it. In Bitcoin, for example, the main consensus mechanism is proof of work . It's a system where minors have to complete a puzzle – the first to solve it gets mine.

See also  Lyft freestyle pilot with nuTonomy begins to taxi in Boston

The idea is that only one block is extracted, because only one minor will finish first. It's a pretty solid system, but it's not the only one.

Another consensual mechanism is the Byzantine mechanism. In this way, a system actor called a "validator" creates the block, and a majority of the system's nodes must sign it before it can be added to the blockchain.

The idea here is that no block can be added unless this action is supported by the majority of the network. Everything is fair and democratic – as long as knots are not compromised .

Here raises the problem of the security of the blockchain. The integrity of a blockchain-based network relies on its nodes – if the nodes are not secure and trustworthy, then the network does not either.

-- Advertisements --

If a sophisticated attacker had to take control of the majority of the nodes or flood the network with their own nodes, they could compromise the integrity of the blockchain and massively slow down the progression by refusing to. allow new blocks.

Worse still, they could have their say on what's going on in the chain and take charge of the whole system. Defending and dealing with these issues is a huge waste of resources and time for blockchain developers.

How to secure knots

The good news is that it is possible to secure a network by simply using traditional tools. For example, users can protect their own portfolios and services by using general firewalls, anti-virus software, and other malware.

It is also possible to protect a blockchain network from being supported by malicious nodes. Web application firewalls such as Incapsula can filter unwanted traffic, preventing systems from being supported by unwanted nodes or DDoS attacks and XXS that could slow down the entire network.

See also  Fmr. Obama was attacked for taking bitcoin contributions for a political campaign

Despite its great promise, blockchain technology has its limits. Although they are often celebrated for being decentralized, blockchains can still be diverted and manipulated via their nodes in theory.

If a network has enough rogue nodes, everything is compromised and this section of the network will be able to influence the rest. That is why it is essential to ensure that the nodes are secure and can not be supported by malicious third parties who intend to manipulate the system for their own purposes.

-- Advertisements --

The total market capitalization of all cryptocurrencies and all blockchain-type societies is estimated at about 243 billion dollars . Since we do not know the value of many new companies in this field, the actual figure is likely to be even higher, and it looks set to increase rapidly in the near future.

The size of this industry is one of the reasons why it is important to protect it. There are a lot of promises in the blockchain, and that could have massive implications for how we live our daily lives. In order to encourage the technology to develop and to be used in new ways, it is essential to assure people that it is safe and reliable.

It is also crucial to ensure the integrity, accessibility and timeliness, three factors that distinguish the blockchain and make it attractive to investors and software developers. The protection of the nodes in the systems is a powerful way to ensure the safety and efficiency in the world of the blockchain.

See also  Carl Icahn, billionaire investor, looks at Bitcoin: "It looks like a bubble"

Advertising

Advertisements