Replies to post #20890 on Validian Corp fka VLDI

[Surwin]

I just know even to be dangerous, but I am reading up on it every day, especially since I have already made a few investments in blockchain technology which currently is the basis for all cryptocurrencies.


It is tough to hack since it's a distributed system instead of centralized. The key problem any hacker would need to solve is the compute power required to fool the bashing mechanism. This is possible, but would require the majority of the compute power that supports that specific blockchain.

Hackers can shut down entire networks, tamper with data, lure unwary users into cybertraps, steal and spoof identities, and carry out other devious attacks by leveraging centralized repositories and single points of failure.

The blockchain’s alternative approach to storing and sharing information provides a way out of this security mess. The same technology that has enabled secure transactions with cryptocurrencies such as Bitcoin and Ethereum could now serve as a tool to prevent cyberattacks and security incidents.

Blockchains can increase security on three fronts: blocking identity theft, preventing data tampering, and stopping Denial of Service attacks.

https://venturebeat.com/2017/01/22/blockchains-brilliant-approach-to-cybersecurity/