Blockchain, the distributed ledger technology is enabling a tectonic shift in business transactions. The possibilities are endless, from self-executing smart contracts, digital currencies, fraud detection, real estate records, patient data privacy, automated claim processing, inventory management to product origin tracking, there has been increased adoption of this technology. Industry sectors have deployed Blockchain due to its ability to ensure data integrity, identify the single source of truth, and get the consensus of parties involved to approve transactions.
Across verticals, Blockchain can create trust in complex business transactions where multiple entities need to transact with each other, and may not trust each other. Here, the value of Blockchain is equivalent to the security it provides. Any drop in security standards can leave your business reputation to chance and can result in huge losses.
|Cryptokey tampering||Protection from malicious code|
|Permissions escalation||Misused timestamps|
|Inappropriate consensus mechanism||Genesis block tampering|
|Lack of security controls||DDoS attacks|
|Poor integrity of Blockchain models||Packet sniffing & MITM attacks|
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.
Eliminate security risks and enhance ease of scalability. Assess the design and architecture of Blockchain ecosystem to eliminate possible loopholes from the design.
Review the technology and processes in Blockchain systems, E.g., Application Platforms, Distributed Ledgers, Consensus Protocols, Smart Contracts, and Cryptography, etc. using our exclusive governance framework.
Check regulatory compliance of PII and other critical data, including a review of the genesis block, chain code, algorithms, membership service providers (MSP), etc.
Avert compromise, manipulation, and tampering of the ecosystem. Find issues relating to compromise or takeover of peers, tampering blocks, and consensus manipulations, which can disturb the ecosystem.
Assess and Review services hosting the platform, SDKs, and APIs used by the applications to communicate with the Blockchain ecosystem.
Dedicated team of Blockchain security professionals, architects, and developers to help you secure lifecycle management in Blockchain implementations. The team has proven expertise in Blockchain secure design and architecture, security audits, penetration testing, and remediation services.
Advanced technology setups to perform security audits and penetration testing of your Blockchain environments.
To ensure seamless Blockchain implementation, our experts have developed detailed guidelines, use cases on security best practices on deployment and risk advisory methodologies for various security risks.
Penetration-testing methodologies for infrastructure components of Blockchain setups to pinpoint and demonstrate the security risks and mitigation plan need for your Blockchain infrastructure.
We have developed security governance & best practices guidelines, data security controls such as HSM, and critical management guidelines to remediate security flaws found during audit and penetration testing phases.