What is Blockchain?
Blockchain is a worldwide online database that any person, anywhere
with a good internet connection can use. Unlike traditional databases which are
owned by central figures like governments and banks, a blockchain doesn’t
belong to anyone. Blockchain stores information permanently across a network of
personal computers. This not only decentralizes the information but distributes
it too. This is relatively hack proof. Blockchain’s millions of users make it
difficult for any one user to take down the network or corrupt it. There are many people who run the system use
their own personal computers to hold bundles of records submitted by others.
These records are known as blocks. Each of these blocks have a time stamp and
are linked to previous block in a chronological chain. It’s like a giant google
doc with a one key difference that one can add to it or view it but cannot
change the information that already exists. The blockchain forces this through
cryptography, a form of math. Thanks to cryptography records can’t be
counterfeited or altered by someone else.
Why has it become famous?
Blockchain is a public document of
transactions on a network which is used by different decentralized nodes.
Blockchain technology enables a peer to peer network where the peers do not
need a trusted intermediary for interacting with each other. Since this network
is not controlled by a central authority and all the transactions are validated
and checked by the consensus from among the peers, the peers do not need to
trust each other.
Decentralization makes it resilient to
failures. It acts as a ledger which is immutable and durable. The records once
made are also immune to any further changes or tampering.
The maintenance of the network by peers
makes it highly scalable. The network spreads more as more and more peers
(miners) join in to the network.
Auditable & Secured
Cryptography serves as a good tool for
securing the transactions in a blockchain network. The transactions become
auditable as everyone on the network knows about all the transactions and
cannot dispute it.
Transactions can autonomously take place
and different entities are enabled to communicate with each other (IOT).
does blockchain fight cybersecurity threats?
Remme solves a very commonplace problem in
a very sophisticated way. They are planning to replace passwords altogether
with the blockchain with SSL protocols. If one has a lot of sensitive data like
scientific discoveries, customer information or health records then the biggest
point of failure can be your employees because they are the ones who can
facilitate a data breach knowingly or unknowingly. REMME tries to make a device
specific login unlike a Facebook login where you could login from your phone,
laptop or tab etc. Blockchain anchoring and ethereum based tokenization they
are going to be able to store an SSL certificate signature on a device in
particular and then store that SSL certificate on the etherium blockchain for
verification. Therefore that file won’t even be centralized enough for it to be
stolen off of a device and then used and copied onto a second device. The
blockchain is even going to take that SSL certificate type of protocol and take
it one step further by removing it from the device. The blockchain part of it
is the anchoring that’s going to be able to verify whether one of these
certificates is in a valid status or revoke status and so on so forth. So, one
will be able to use the telegram two factor authentication in combination with
this which similar to Google two factor authentication at least at a very high
level and they are looking at being able to help the people to remember their
password or not need to remember their passwords to login to things like their
Chats today on platforms like Facebook,
Whatsapp and WeChat which collectively count for roughly 3.2 billion users are
in danger of being a victim to hacks, social engineering and other security
issues. Blockchain technology used by obsidian makes it uncontrollable from any
centralized source. It also reduces
surveillance risks through digital fingerprints. There is increased privacy as
the users do not have to link e-mail ids and phone numbers. Obsidian Messenger
will have a parallel network for exchanging data and files. The platform will
also serve as a mode for the exchange of its own token.
Ahto Buldas, an Estonian cryptographer
founded the Guardtime in 2007. It has
now started using the blockchain technology to safeguard records that are
sensitive in nature. Keyless Signature Infrastructure was created using this
technology by Guardtime. The KSI technology replaced the PKI technology (Public
Key Infrastructure). The PKI technology had been using an asymmetric encryption
and a cache consisting public keys supervised by a central authority that is
the Certificate Authority (CA). Guardtime stands largest in the world with
respect to earnings, manpower and clientele. 2016 proved to be a marvellous
milestone for the company as it succeeded in securing 1 million records in
health with the wonder of Blockchain in Estonia.
This startup was founded by Max Niebylski, Marcelo
McAndrew and Alex Godwin. This organization has come up with decentralized CDN
(Content Delivery Network) and protection against DDoS through blockchain.
Their aim is to come up with a peer to peer, fully decentralized, serverless
node network, for connecting with bandwidth and storage pools to website
searching for protection against DDoS with delivery of expedited content
An application (light) installed on a
system with Linux, Windows or MacOS is used in this technology. However, this
works at the background according to the user’s convenience. The unused
bandwidth is rented out to earn tokens (GLA) Gladius. There are no new
generation of tokens that take place which is very unlikely of Bitcoins. The
payment that they receive is a part of their network bandwidth.