Emerging blockchain technology is helping revolutionize cybersecurity. Further, blockchain technology start-ups will help secure data in private messaging, business and within popular user websites and applications.
The blockchain is a relatively new technology, which became famous through its first successful implementation – Bitcoin. Thanks to its unique properties, it has given rise to multiple start-ups that are specializing in blockchain technology and bringing cybersecurity to a whole new level.
The blockchain is a technology that helps encrypt all the actions performed with a file or object into the code that is inherent in the file. This encryption cannot be removed, altered or omitted, which makes the files’ records completely transparent: it is always known what transactions were carried out with it, when and by whom. Such a decentralized, autonomous approach to data security brings new opportunities in internet security, which many industries – from businesses to social media – have long been waiting for.
Firstly, and most importantly, blockchain provides possibilities for private messaging security. Startups like Obsidian are dedicated to using blockchain technology in securing the private information exchanged in chats, messengers and through social media. Messengers are used nowadays not only for communication, but for payments as well. The security vulnerabilities in Facebook Messenger and WhatsApp lies in the fact that they use end-to-end encryption, and it does not offer enough protection of metadata, including the identity of the person sending the message, their email and other data they use to register and login.
Obsidian messenger is going to secure metadata of users by using blockchain. The user will not have to use email or any other authentication information in order to use the messenger. The metadata will be randomly distributed throughout a ledger and thus will not be available for gathering in one single point, from which it could then be hacked. They are also planning on introducing their own token as a method of payment inside the Obsidian Messenger. This startup is still under development, but other messengers will follow the scheme and secure their user’s data in a similar way.
These days, the common method of adding users to any system is by using a centralized approach with logins and passwords. REMME, a new startup which aims at using blockchain to recognize devices and users, is trying to change that. The blockchain’s main strength is decentralization of systems and random connections between files and data in general. In addition to that, passwords are made up, kept and introduced by humans, which leaves a lot of space for human error. REMME is trying to eliminate the chance of human error in device and user authentication.
The principles on which this company will build its secure authentication mechanisms are built on leveraging scattered public keys infrastructure. The decentralization of public keys will make them less vulnerable to attacks, something that centralized password manager systems do not do. Each device is attributed its own SSL certificate based on the blockchain technology, which will prevent intruders from using counterfeit certificates.
Startups like REMME will allow businesses to secure their commercial data in much more effective ways, by managing the data and access to their employees. In case of internal breach, the blockchain technology will allow the company to know unmistakably which employee was responsible for the breach. Like Obsidian, REMME is still underway, but hopefully, many more businesses will follow.
Deflecting Cyber Attacks
Finally, blockchain provides many opportunities for detecting and deflecting hacker attacks on major websites with centralized servers. The consequence of such attacks has been seen time again, with DDoS attacks cutting off users’ access to such mainstream websites like PayPal, Twitter and Spotify.
The problem is that current DNS servers lack in security because they keep the access key on a single server and rely too much on caching. Startups like Guardian and Nebulis, are determined to change that with using the distributed network of keys and keywords on the basis of the blockchain. Ultimately, blockchain will protect servers from hacker attacks and make them virtually unbreachable.
The blockchain is by far the most promising cybersecurity invention of the past decade. Chances are, it will revolutionize the cybersecurity systems and will allow for a much safer internet for years to come.