Blockchain Security

Blockchain is one of the most secure ways of conducting transactions. It is a digital chain of blocks, making it hard for a hacker to devise a breach. Each block has a transactional record, and cryptography ensures the records are secure. Every participant gets private keys for each transaction, which also function as their digital signatures.

Organizations these days use Private, and Public Blockchains based on their security needs since both differ in the way of transaction verifications.

Bitcoins are public Blockchains, and the identity of the participants remains a secret. The security issues in such Blockchain setup include limited scalability, lack of privacy, inability to verify formal contracts, and lack of governance standards, to name a few.

Private Blockchain confirms participant identities and provides them with access privileges so that the identity is transparent to all others in the network. The challenges here include weak permissioned networks, undefined smart contracts, tampering of transactions, security governance, and compromises in PKI based cryptography and hashing.

The adoption of Blockchain has its challenges, and organizations must secure and protect their Blockchain infrastructure. Our digital security services can help in managing your identities, business applications, and people, including third party aggregators and vendors. From governance, devising customized approaches, and solution methodologies, our consulting teams can secure Blockchain lifecycles, help you facilitate online transactions, and formalize digital relationships.