Blockchain and Cyber Security

Blockchain technology, in short, is a chain structure consisting of blocks. Blocks hold the transactions and the previous block address and form the blockchain. We can see the blockchain as a registry, it is known that transactions there cannot be changed. Blockchain, which provides data transfer and data security in an encrypted way, does not need a centralization for these transactions. The data transferred in a secure environment can be stored in an equally secure way.

Cyber security is a set of methods applied to protect networks and all devices connected to networks. The security of information in electronic environment is called cyber security. Thanks to cyber security, anyone who is not authorized to access digital data is not allowed to access it. Malicious attacks and threats are also prevented by cybersecurity. Since there are IoT and many other technological developments in the new age and all these communicate through a network, cyber security solutions are being developed against possible network threats.

Methods used for cybersecurity include blockchain, cryptography and digital signatures. Blockchain-based approaches are used in many sectors where data privacy is very important and it is expected to be used more in the future. Already, blockchain technology appears to be used in categories such as data collection, data trading, and authentication. By examining the security infrastructures of Jeton-like companies providing financial services, it can be seen which technologies are used. In Blockchain technology, transactions are made with mining power, but as a result of the researches, it has been seen that mining consumes a lot of energy. The Proof of Stake approach has come to the fore in order to make mining with less energy consumption instead of mining, which is called Proof of Work, which is usually done using a graphic card. Instead of devices that are constantly trying to solve puzzles, it is more beneficial to create blocks with the cryptocurrency in the system. It is difficult to predict whether PoS will completely replace PoW, but the usage rate of the PoS method is expected to increase day by day.

Transactions on the blockchain are very fast and the probability of successful attacks is very low due to the distributed nodes. There have been and will continue to be attempts to attack, but the probability that the hacker will seize most of the mining power is unrealistic. It can be said that cyber security is best provided with blockchain, but it should be noted that blockchain does not have a goal of privacy.

Even though blockchain provides enhanced security as a powerful technology that encrypts communication, companies must take additional security measures. Because with the development of technology, malicious people also find new methods for attack. However, all security measures can be updated at the same speed and the damage can be minimized. It is not correct to say that any network is 100 percent secure or fragile. The future of networks can be kept secure as the use of cloud technology becomes widespread and cybersecurity measures strengthened by blockchain are introduced.

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