Can Blockchain be Hacked?
The blockchain itself won’t be hacked. There is a misunderstanding when there are hacks taking place on cryptocurrency exchange; those are considered as blockchain hacking issues, which they should be not. The vulnerability that results in hacks taking place is because of the core idea of centralization.
It is a well-known fact that Blockchain is decentralized. Even though Blockchain is decentralized there are some aspects to it that centralized. This helps hackers get that single point that gets them access. These hacks have led to the rise of
This emphasizes on the fact that it is indeed very important for every aspect of Blockchain to be decentralized in order to prevent any possibility of fraud.
The base of Blockchain’s security lies in cryptography but it is because of the decentralized approach that Blockchain been so secure. This has led to many companies and organizations being more and more intrigued and excited to explore the potential of Blockchain.
- Volvo Adopts Blockchain Technology To Ensure Its Promise Of Safety
- Russian Corp. Rostec Intends To Reduce Blockchain Expenditure By 50%
- Israeli Securities Authority Issues A Request For Information To Stimulate Blockchain Innovations
- Accenture Launches A Blockchain-Based True Supplier Marketplace
- Blockchain Interoperability, A Secret Behind Successful Projects In 2020
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