Blockchain Technology Is A Huge Target For Cyber-Attacks

​The sudden rise of the blockchain technology has shown a new and exciting way to do business. But with this comes a new series of challenges—the rise of cybersecurity being a major case in point.

One of blockchain’s most valued features is its inherently secure structure, therefore the threat of cyber security would seem counter-intuitive at first glance. The main reason being that the distributed nature of the system makes it more difficult to tamper with unlike traditional centralized databases, which tend to have more clear and public attack targets. 

Luckily, these emerging threats have only pushed blockchains to implement robust security protocols, specifically through the full encryption of blockchain data and authentication, authorization, and audit (AAA) strategies. This means that data cannot be accessed by third parties while in transit, not least when transit takes places in untrusted networks. And companies have been quick to successfully implement such measures in full-force.

---