Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
By Mr. Siddharth Ugrankar
Cybersecurity has been a central theme in IT since the creation of the first cyber networks. Sophisticated tech allows bad actors to covertly compromise systems either on site or remotely to benefit themselves financially or to simply spread fear. Over the years there have been multiple attempts recorded in history that involved either hacking systems to steal data that could be sold or attempts to steal money byusing sophisticated brute force methods to crack passwords.
Sifting through all the noise, one reason considered to be the most commonly responsible for data leaks and financial thefts is human error. No matter how strong or smart a cybersecurity system is designed, nothing can prevent a person from sharing a password or clicking a malicious link.This makes it much more important to have robust systems to protect against new threats. It will require innovations in software and hardware technologies to be able to stay ahead of the curve.
With new technologies being invented almost regularlyand data moving to the cloud, the security landscape is changing. Innovations such as Artificial Intelligence have the potential to detect human induced security lapses and predict the impact of those lapses before they causeirreparable damage. In addition to this, AI can also monitorapplication-level attempts for unauthorized access and perform a security action preventing damage. Advances in database storage techniques such as IPFS and Blockchaincan store data in a distributed and encrypted format making it harder to steal, copy or change this data.
AI and Blockchain,when used together,have the potential to prevent data thefts and unauthorized access.Artificial Intelligence is made up of several algorithms. Anomaly detection is one such algorithm that is responsible for detectingchanges in pattern or behavior. It does this by using something known as Linear Regression that monitors the relationship between a known variable and an independent variable to predict the outcome of the interaction. This practice has been used in IT for close to 10 years now where tools developed using Machine Learning observe the pattern of streaming data to detect any possibility of system failures. The same technology is being used to predict human behavior that could cause some level of harm to the system or software that is being accessed.
Blockchain on the other hand is encrypted database system that stores data in the form of a chain.This chain is immutable in nature and exists in multiple copies on nodes of the network known as peers. Blockchain came into prominence with the popularity of Crypto currency that created a decentralised financial system. People we able to earn crypto coins by solving an algorithm which if successfully solved, would award a coin or Smart Contract on a blockchain network. The contract is encrypted, and copies of proof of work and ownership is saved on all the nodes within the network. This architecture makes it very difficult for hackers to steal or change this contract making transactions and storage very secure. If a hacker got access into a network, he would have to find every single node within the network where the contract has been stored. Once he finds these nodes, this person has tothen decrypt the certificates to access the machine and then finally decrypt the contract to make changes to the data or steal it. Each step becomes progressively harder.
AI and Blockchain are mutually exclusive technologies and can operate independentofeach other. But together they form a formidable force to reckon with. The value that they bring to a network from a securitystandpoint is unparalleled in today'stechnology landscape. Both the technologies are still in their infancy, and it will be a few years before they become mainstream in IT security. Many projects around AI such as OpenAI are attempting to bring the technology to the masses. Other projects in the blockchain space are also attempting the same. For example, the Self Sovereign Identity or SSI project,that stores a person identity on a secure and decentralised walletwill prevent organisationsand hackers from accessing a person's personal information without their consent.
The future for both these technologies is bright as it will help security experts stay ahead of the constantly changing global security posture. In order for these technologies to reach a level of maturity, it will require a combined effort of public and privateentities.Governments should stop pandering to AI and Blockchain doomsday ideas and instead be open to collaboration and innovation. Thats how the internet became what it is today. But AI and Blockchain will shape it to what it will become tomorrow!
Author Bio
Mr. Siddharth Ugrankar is CEO & Founder, Qila.io
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.