Is blockchain the ultimate solution to stop hackers from attacking big data?

Baozou Commentary : Yesterday someone asked, what is the relationship between blockchain and big data? My opinion is that blockchain may become one of the security mechanisms of big data in the future. Blockchain can store multiple private keys and complex permissions for a single piece of data, which may be the safest way that humans can think of at present. We may not be able to ensure that every private key will not be lost or leaked, but we can ensure that the leakage of a single private key will not lead to the leakage of the entire database. Ensuring security through mathematical methods, rather than placing hope on the most unreliable human operation, may be the safest way.

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Data attacks have become a constant concern for Internet users. According to recent reports, organizations such as the U.S. State Department, the U.S. Postal Service, and the National Oceanic and Atmospheric Administration (NOAA) have been attacked by cyberattacks and their computer systems have been hacked. Therefore, solving network security issues is becoming increasingly important, but people have not yet found a perfect technology to protect Internet users' data. Will blockchain be the ultimate solution to prevent massive data hacking attacks?

Blockchain is considered one of Bitcoin's major technological innovations and is a public ledger of all completed Bitcoin transactions.

Blockchain is basically a verification technology where every transaction is open to every participant on a distributed ledger. Whether people can use blockchain to deal with identity and cyber data theft remains to be seen.

Blockchain can be part of the whole system

Ethereum is a decentralized application platform that runs entirely according to program, leaving no room for fraud, censorship or third-party intervention. Vitalik Buterin, the founder of the platform, explained that users who want to increase control over their own data can consider using blockchain, which can be combined with other systems instead of working alone. He said:

“Blockchain is not a privacy solution. It’s a verification solution. It’s very important to understand that. Blockchain can be combined with other technologies to create systems that help users better manage their data, but these systems cannot prevent data breaches.”

Blockchain startups believe blockchain can serve as an excellent security measure

But Roman Mandeleil, one of Ethereum’s leading developers, holds a slightly more firm opinion.

When asked if blockchain will ultimately solve the problem of data hacking, Roman responded:

“I think blockchain technology can solve the problem of identity hacking because if your identity is controlled by a private key and you keep that private key yourself, then there is no way to hack your identity, or at least the possibility of an attack is very low compared to traditional database systems.”

Roman went on to say that all blockchains are based on a mechanism where the information on the blockchain is immutable, so no one can actually change the information.

Finally, he concluded:

“One of the biggest values ​​of blockchain is that you can’t change the value at will as an administrator. No one controls the blockchain. This is short-term.”

Technically speaking, blockchain alone may not be a solution to data hacking and identity theft, but it is still a major technological leap for personal information security, moving from cyberspace to the norm.