Block chain technology provides several design configurations and applications to enhance security. However, although it has a so-called security advantage, the block chain market has been full of security issues – 2021, the crime associated with encrypted currency has caused a loss of more than $ 14 billion, an increase of nearly 57% over the previous year.
This puts forward a question. Is the block chain in the design, or whether the block chain case should be safe?
The block chain technology will record digital and distributed across the network, so the transaction verification process no longer rely on a single central organization. The block chain is always distributed, but there is a great difference in permissions, scale, role, transparency, participant types, and transaction processing methods. The decentralized structure provides an inherent security advantage because it eliminates a single point of failure.
The block chain is also composed of several built-in security quality, such as cryptography, public key, and private key, a consensus, contract, and identity control of software. These built-in quality provide data protection and integrity by verifying access, certification transaction records, proves traceability and maintain privacy.
These configurations enhance the position of the block chain in three aspects of confidentiality, integrity, and usability by providing better elasticity, transparency, and encryption. However, the block chain is designed and built by people, which means they are subject to human error, prejudice, or use-based exposure, subversion, and malicious attacks.
Fancy mathematics and software cannot match the chaos of the real world. For this reason, the block chain is theoretically only design security. In practice, the block chain must be designed and implemented safely.
In general, the block chain creates a safe, reliable and tamper-resistant economic transaction infrastructure for the parties. Regardless of whether the encrypted currency is surprised in the next few decades, the block chain will continue to work in a variety of ways.
The block chain provides enhanced security levels and transparency, credible data networks to make them the first choice for different companies. Perhaps in the near future, the block chain technology can replace all other data storage and record save options.