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Importance Of Blockchain And Audit ...

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Hello to my friends who love life and always smile despite all kinds of negativity. Data privacy and security concerns are increasing day by day. This data security concern threatens cybersecurity practices more and more as cybercriminals or hackers take advantage of more advanced methods. In this article, I would like to talk to you about the data privacy and security of Blockchain technology.

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What is blockchain technology in a nutshell… ?

Using blockchain distributed ledger technology, they break up large amounts of data into small pieces and distribute them across entire computer networks rather than transferring them to a cloud server or storing them in one place. This means that the technology has no central control to secure data.

Blockchain is often associated with Bitcoin. Every movement of Bitcoin is recorded, an indexed database is created. Unlike traditional digital ledger solutions that save information on a central server, blockchain technology stores transaction data in vast computer networks that constantly check and verify information with each other.

Blockchain offers a decentralized transparent database network. Thus, it also provides encryption and authentication methods to protect user data. For example, if an organization implementing blockchain solutions enters user or transaction data into their systems, validation of the data is done with a quick consensus among the servers of the network stakeholders. This data after verification cannot be changed unless authorized change permission is given by the stakeholders. This data is then encrypted with the highest level of encryption protocols to further enhance data security and stored in the blockchain network used by the stakeholders.

So how does blockchain technology contribute to data security?

Distributed Identity, Storage and Data Integrity

There are two types of identities in Blockchain, one for the user and the other for the device. Blockchain meets these needs of devices with the infrastructure it offers, while ensuring that devices are part of a verified chain with their fully defined and secure state.

In the blockchain, while the data is stored in comprehensive systems, both the information in each node in the chain and the entire database are guaranteed by the storage feature of the ledger.

Blockchain has an integrity that is hard to break with a decentralized structure that stores all the information necessary for the systems to work. In this integrity, no one can access and modify all information.

Mandatory Liability, Infrastructure Protection and Distributed Encryption

Investors and regulators want verifiable records. Blockchain provides the opportunity to audit and/or detect problems thanks to its features of verifying and recording every change made.

Blockchain technology leverages exchange verification and payment transparency to protect infrastructures. It becomes almost impossible to hide malicious software or make illegal changes in this system, which records every transaction.

The security of the information in the blockchain does not ensure that these key stores are hidden in different locations. It is based on its clutter and the difficulty of the algorithms used. The blockchain, which keeps users' information secure, renders the tools most cyber attackers use to obtain passwords useless.

If you want to create your own blockchain using blockchain technology, you should pay attention to the following elements…

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Secure Blockchain System Design Blockchain System Penetration, Static and Dynamic Tests Secure Smart Contract Design, Development and Control Web and Mobile Application Security

You have developed your project on a great blockchain and/or a blockchain of your choice in accordance with what we have explained above. But that's not enough...

Although this transparency-based nature of blockchain technology makes the job of hackers much more difficult, it is not impossible. For this reason, you need to work with professional teams in audit work. Thus, it will test and supervise you according to all kinds of situations. By correcting the errors it finds, you will be able to maximize the quality and reliability of your project…

It's time to answer the question of who is doing this audits…

Security solutions tailored to the volatile nature of blockchain technology and components are a few examples from companies in the blockchain security business to isolate and neutralize security threats prevalent in the blockchain space.

Certik is a security company looking to use world-class official verification technology in collaboration with some of the top cybersecurity experts to build end-to-end services. Certik claims to have audited hundreds of thousands of lines of code on its website and secured billions of dollars in assets. He developed Certik Chain, a public blockchain focused on leveraging Certik's Official Verification platform to secure decentralized projects. Certik is backed by leading investors such as Binance Labs, Lightspeed, Matrix Partners and DHVC.

Slowmist is China's leading blockchain security company. They perform comprehensive blockchain security services including smart contract audits, blockchain security audits, wallet security tests and much more. Slowmist also has a secure sharding project for blockchain ecologies that provides real-time data on the growth and security patterns of EOS, Cosmos, Vechain and other top blockchain projects. Another interesting detail about this platform is the powerful firewall project for EOS smart contracts called FireWall.X.

Quantstamp has an experienced team at top IT companies like Google, Facebook and Apple. Developed a decentralized safety net for smart contract control. With this solution, users can perform automated smart contract security review on a "global network of decentralized security nodes". Additionally, the platform provides expert security audits and 24/7 security monitoring software tool for clients' blockchain projects.

US-based ConsenSys is one of the largest and leading blockchain incubators in the industry. ConsenSys uses its resources and technological know-how to develop Ethereum blockchain applications, especially financial infrastructures. That's why its product ConsenSys Diligence offers security analytics for smart contracts. This audit product is at the cutting edge of sophisticated “cryptography, blockchain technology and crypto-economic incentive analysis”. Another of their products, MythX, is one of the most powerful automated scanners for Ethereum smart contracts. This solution provides a robust API that developers can use to access their security analysis tools.

At the end of my article; While the blockchain technology provides us with a great assurance of reliability and immutability, the widespread use of this technology by different institutions requires auditing the correctness and integrity of the logic and infrastructure of the designed chain. These audits made by professional companies play an active role in the development and reliability of projects.

The project you want to invest in; You should start looking at what problem it has solved, whether it has a competitor, your team, its marketing, whether there is an audit report now, and the reliability of the auditing company...

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