Cybersecurity Challenges in Emerging Technologies | CSIS 343 - Cybersecurity

1. Secure Transactions:

a. Cryptographic Security: Blockchain employs cryptographic hashing to secure transactions. Each transaction is encrypted and linked to the previous transaction, forming a chain. This ensures the confidentiality and integrity of transaction data. Even a small change in the transaction data would result in a completely different cryptographic hash, making it extremely difficult to alter data without detection. b. Decentralization: In traditional centralized systems, a single point of failure can lead to security breaches. Block chain’s decentralized nature, where copies of the ledger are distributed across a network of nodes, ensures that the system remains operational even if some nodes are compromised. This decentralized architecture enhances resilience against attacks. c. Immutability: Once a transaction is added to the blockchain, it is nearly impossible to alter or delete. This immutability of records makes it a reliable source of truth, reducing the risk of fraud and disputes. d. Transparency: Blockchains are often transparent, meaning that transaction history is visible to all participants. This transparency helps in fraud detection, as any suspicious activity can be quickly identified and investigated.