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You might be surprised to know the random fact that – banks and other corporate giants hire white hats or “Good Hackers” to help fix security issues and prevent system exploitation.
Surprising? Expected? Or Scaring? – banks and corporates hold your most critical data, information, and reports and need aid from “HACKERS” to secure your own data.
This practice is not limited to the corporate world or banking industries, but various sectors take the assistance of hackers to prevent their data from being abused.
This is the decade of urgent action where the corporate world is confronted with an urgent data security crisis. Every industry, and all of us, needs to take a step forward to address our pressing challenge of data security.
Today, in this age of AI (Artificial Intelligence), where industries are transforming to the power of cloud computing technology to become digitally sovereign, it is necessary for every sector to guard, secure, and protect their critical data with the unleashed antidote of blockchain security.
60% of CIOs of different industries are on the verge of integrating blockchain technology across their infrastructure by 2022, considering various aspects of security, scalability, and agility.
What is Blockchain Security?
Every organization or database authority needs security to protect its data from being breached or hacked. Similarly, Blockchain security is a method or approach that manages risk and provides comprehensive assurance to protect data integrated beneath blockchain. Such a system or assurance reduces the cyberattack risk and eliminates the threat of data breach or manipulation.
Blockchain was initially developed and created to support cryptocurrencies. However, as the popularity of blockchain increases with the soaring interest in blockchain technology, organizations and individuals find blockchain has other uses outside of cryptocurrency.
Importance of Blockchain Security in Cloud Computing
The fascinating combination of blockchain and cloud computing offers limitless potential and opportunities to upend entire industries.
Cloud computing is a computer system or system resource available on the internet to store big data, software, and computing power for rapid innovation and flexible availability of resources for the economic scalability of the business. Such services need profound security and protection, as services are delivered through the internet, and it has a high possibility of being hacked or breached.
However, on the other hand, blockchain technology offers decentralized services that guarantee data integrity without depending on a third-party centralized body.
Hence the integration of blockchain security in cloud computing will ensure security, safety, and protection as the cloud is built on trust and security. However, there many other explanations which sincere the Importance of blockchain security in cloud computing.
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Enhancing Data Protection
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Maintain Audit Records
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Quick Disaster Recovery
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GEO – Independence
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Decentralization
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Fuel’s Scalability
1. Enhancing Data Protection:
Blockchains end-to-end encryption aid to protect the transaction data while in transit as well as in storage.
Furthermore, with triple security layer alongside robust peer-to-peer distribution you can get exact copies of the blockchain through a cloud computing network.
2. Maintain Audit Records:
Data is the most strategic asset of every organization, and blockchain in cloud computing importantly makes permanent records of every data transaction. Such records significantly function as Proof of history (POH) for blockchain.
POH aid organization to verify the delay function happened during auditing, which allows an audit trail of all your transaction appropriately and makes a permanent timespan on the transactional information.
3. Quick Disaster Recovery:
As long as blockchain data is closely interconnected via collaborating clouds, it aids in reducing the risk of failure due to one single-serve or node.
As blockchain data is shared with numerous authorities and made public the blockchain data is excessively valuable. However, the network can continue offering services even if one or more cloud nodes are down.
If any network node fails, it can seamlessly reach the current blockchain database status based on transactional records of blockchain trails when the nodes get back online.
4. GEO – Independence:
Internationally, many businesses now use cloud computing apps and solutions. They can now choose to keep their data in several physical locations.
With enough cloud storage available globally for a cloud computing network, the likelihood of data loss or service disruption due to natural catastrophes or other causes is quite thin.
The processing load is moved to another fully functional network node. As blockchain technology is particularly successful at increasing geographical variety when used with cloud networks because it is fundamentally built as a distributed data system.
5. Decentralization:
Because linked IoT (Internet of Things) devices do not need to communicate with centralized servers to handle data or make decisions, cloud computing is currently being pushed to the edge.
Consider a biometric recognition node as an example.
Every authorized person's encrypted biometric data will be stored there; the node will only need to check with the servers when a match cannot be made. A node can function independently unless there is a requirement to check whether updates are accessible.
It is quicker and easier to access official copies when several copies of the database of authorized personnel's biometrics are pushed to the edge by cloud storage which is geographically dispersed.
6. Fuel’s Scalability:
On large-scale blockchain applications, there may be a lot of transactions in the networks. Therefore, having reliable services to process data is crucial.
You will not be able to provide scalable blockchain services or carry out many transactions quickly until then. In this case, the cloud can offer computational resources to make the blockchain's operations easier.
Thus, blockchain and cloud computing can be combined to produce a highly scalable integrated system.
Conclusion:
Blockchain in Microsoft Azure Cloud can hugely transform the digital world in various industries. Today, several industries use Microsoft Azure Cloud consulting services to make businesses more resilient, agile, and Flexible. Blockchain integration in the cloud will work more smartly to enhance security, efficiency, and value.
Additionally, moving to clouds with Azure cloud consulting company will enhance the flow of information, streamline the process, and move your business forward. Combining blockchain in the cloud will implement the decentralized architecture and improve manufacturing efficiency.
Today blockchain is increasingly penetrating cloud computing and is already known as cloud 2.0; hence this curve should not be ignored or neglected. Your company’s long-term profitability and productivity depend on how fast your company implements this technology and how experienced your technology provider is.
Writer Bio:
An Enthusiastic Sr. IT Consultant at azure cloud consulting company called Bitscape. He has a decade of expertise delivering Microsoft technology-based solutions that make use of many technologies. He enjoys visiting wild places.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.