What makes blockchain secure: Key Characteristics & Security Architecture
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The document outlines key characteristics and security architecture of blockchain technology, highlighting its core strategies of cryptography, decentralization, and consensus. It emphasizes that blockchain provides a tamper-proof environment that enhances business performance and security through features such as distributed processing, immutability, and digital signatures. Furthermore, it details the multi-layered security architecture that protects transactions and data against fraud and unauthorized access.
What makes blockchain secure: Key Characteristics & Security Architecture
- 1. What Makes Blockchain Secure Key Characteristics & Security Architecture Copyright EC-Council 2020. All Rights Reserved.
- 2. 3 Core Strategies Cryptography Decentralisation Consensus Blockchain solutions are specially crafted to be tamper-proof and are highly secure
- 3. Key Characteristics of Blockchain Security • Blockchain is undeniably a measure that ensures security. It has become a disruptive technology due to its ability to centralize, incentivize, digitize, and secure the transactions’ validation. The records are protected through cryptography decentralization to ensure the fool proof blockchain security of the blocks. • Many sectors are evaluating blockchain Technology for detecting the strategic differentiation to leverage their business potential. Blockchain has the potential to simplify business processes and give them access to enhanced performance and security. • Every transaction in this technology that gets recorded and stored is not directly labelled as a blockchain.
- 4. 1. Distributed Distributed blockchain technology evenly distributes the processing among all business peers, developing a shared infrastructure within the business system. Participants can independently validate the details without any centralized authority.
- 5. 2. Immutable In this, all the blockchain transactions in the blockchain-based technology are immutable. Even the code encryption is done for the transactions, effectively covering the participants’ date, time, and information.
- 6. 3. Consensus-Based The transactions in blockchain technology are executed only when the parties present on the network anonymously approve the same. One may even choose to alter the consensus- based regulations to match the circumstances.
- 7. 4. Digital Signature This blockchain technology streamlines the exchange of translational values with unique digital signatures that depend on public keys. In blockchain technology, private key codes are known only to the key owners to develop ownership proof. It is a critical feature that avoids any fraud in blockchain record management.
- 8. 5. Persistent Persistent blockchain technology invalid transaction detected by the consensus-based system. It isn’t easy to roll back the transactions once they are integrated into the blockchain ledger. Cryptographically, blockchain blocks are created and sealed inside the chain, making it difficult for the hackers to edit or delete already developed blocks and put them on the network.
- 9. Security Architecture in the Blockchain Technology • The blockchain records are protected through cryptography, where network users have their own private and secure keys. • This key is assigned directly to the transaction keys, and it acts as a personalized digital signature. Blockchain safeguards and prevents any malicious attack and secures the data of the company by encrypting it. • This technology enables enterprises to separate their responsibilities and roles. It also helps them to protect confidential information without compromising access to any privileged user. • Blockchain is empowered at many layers for developing any enterprise application.
- 10. Layers of Security Architecture User access layer Presentation layer Identity and access management layer Application layer Network layer Infrastructure layer
- 11. Blockchain Security Architecture PC Laptop Smart Phone Tablet Terminal User Sessions Laptop Smart Phone Tablet Terminal Enterprise User Identity User Access Controls Certificates Smart Contracts Blockchain Protocol Consensus Algorithms Denial of Service Data in Motion SSL, TLS Audit Trail Data Monitoring User & Activity Monitoring User Access Presentation Layer Identity and Access Management Application/ Data Layer Network Layer Infrastructure Layer
- 12. Blockchain technology is specially designed to pay off in the long run. Blockchain has irreversible and highly encrypted data blocks that allow us to fight against any fraudulent conduct. Conclusion
- 13. Thanks for Watching! Want to learn blockchain? Join the next batch of Blockchain Training at EC-Council