Why BlockChain is not hackable
When it comes to secure platforms, few can have an authority on the matter and BlockChain stands as the most pronounced of the lot. The digital platform has brought a lot of opportunities and it is fair to say that the challenges on the security of information has also become an issue to contend with. This is where BlockChain has looked to thrive since it has become the guaranteed platform where security and trusted verifiability have been captured. The security instrument that has made BlockChain such a success is the fact that it has a decentralized system where no central database is in command. However, this is just one of the operational benefits that BlockChain holds and plenty others combine to make the platform a fortress.
Evaluating why BlockChain is not hackable
Theories have been forwarded that try to explain the security measures that BlockChain is set up under and why it is virtually impossible to hack the system. Here, we look at the individual elements and how they combine to bring the security in place:
The first measure that ensures BlockChain is not hackable is the cryptography used in setting up the blockchains. Every block that is added to a chain is given a distinct identity that is also encrypted in itself and distributed all through the network. In addition, every transaction is evaluated by Miners and a distributed computational review done which leads to the transaction being approved as a Block. The miners have to scan and find the relevant nodes before approval which means compromising the system becomes harder.
One peculiar factor about BlockChain is that every block constitutes a set of data which is encrypted using functions mainly regarded as hash elements. The block of data is then added to a chain hence making up a BlockChain. Every block of data has a unique hash and this makes it virtually impossible for hackers to gain access or manipulate the data within the blocks in a given chain. This is because any alterations to a hash is easily noticeable and the beauty is that the system rejects such making the network a secure platform for data.
BlockChain makes use of Miners who are paid agents given the mandate of handling the validation of transactions after which they receive a commission. It is in the best interest of Miners that they satisfy the needs of users since it is how they get paid. In the same wavelength, it is the Miners who scan the network to find any discrepancies that may be related to a transaction. This eliminates the window of uncertainty that was available to hackers where transactions would not be validated making it possible to duplicate transactions.
BlockChain does not have a central database that can be hacked and this arguably the most notable security measure. A distributed peer to peer network is what manages BlockChain and the same is encrypted for top level virtual security.
BlockChain is designed to affirm the existence of an asset and ownership of the same. The chronological chain for each block holds a timestamp and a link that forms a connection to the previous block. Any alteration to a blockchain is therefore recorded and updated meaning no single hacker can adjust the system without being noticed.
Corrupting the network is quite impossible due to the varied Nodes processing information. A hacker would need to hack and control all the nodes that are processing information which is an impossible task. It is more of the design of a multiple key lock and not just one entry setting is needed to get access. Multiple nodes have to process information before it is accepted and approved and this makes BlockChain a trustable platform.
Every block is captured with a link to SHA (Secure Hash Encryption) which is what links it to a previous block. Multiple blocks housing transactions therefore form a blockchain and this means hacking the same will be next to impossible since there is no super computer that will be able to hack all the blocks all at once and eliminate the information or alter the same. As long as there is one working computer that has a copy of the blockchain, it can be copied and redistributed making the hacking process a fruitless affair.
If any block is changed without verification and designated approval, it will be traced and easily found out. Any change on a block will also alter the hash that was recorded on its creation and this means that the system will reject the new hash making it impossible to change any information without detection which is a nightmare for hackers.
It is impossible to control computing power in “proof of work” and this is one of the clever successes of BlockChain. Computing power is spent to validate a transaction and multiple Miners have to agree to a block for a transaction to be considered legit. Hacking this computing power is impossible and this is what makes BlockChain secure. No hacker can divert computing power so as to control the network and further security is being tapped with “proof of stake” element that cements the security of the platform.
Transactions on BlockChain are untraceable and since they are added in an encrypted fashion onto a select ledger, they are impossible to reverse or alter. This is by far the major positive in terms of security that BlockChain can boast.
The bottom line
The secure nature of BlockChain has been famed and given rave reviews all in a deserved frame since much effort has been used in structuring the security measures. As a platform where other applications can be built on, its distinct operational capability and trusted setting is what makes for a unique experience. Visit bitgale.com for more on BlockChain and its enormous potential within organizations and industries.