An unprecedented surge in societal interest and institutional investment in blockchain occurred in 2021. The technology born of the Bitcoin cryptocurrency has evolved significantly since its inception over a decade ago. Current blockchain applications span sectors far beyond currency. The distributed ledgers and decentralized economics enabled by cryptocurrencies are an architectural paradigm for the next generation of the web.
Blockchain technology has also ushered in a host of security issues, however. More blockchain security incidents were reported in 2021 than any year prior, resulting in losses exceeding $9 billion. These exploits include traditional attacks, such as phishing or network attacks, as well as novel threats unique to blockchain infrastructure, including cryptojacking, rug pulls, 51% attacks and more.
Although blockchain technologies offer several security benefits, every technology represents new opportunities for malicious attackers -- not to mention user errors.
In a world of distributed record-keeping and decentralized applications, individuals must assume greater responsibility for their online security, and businesses must mitigate threats far beyond their own walls and proprietary assets. For both, this begins with a security mindset.
Continue reading: https://www.techtarget.com/searchsecurity/tip/8-best-practices-for-blockchain-security
Blockchain technology has also ushered in a host of security issues, however. More blockchain security incidents were reported in 2021 than any year prior, resulting in losses exceeding $9 billion. These exploits include traditional attacks, such as phishing or network attacks, as well as novel threats unique to blockchain infrastructure, including cryptojacking, rug pulls, 51% attacks and more.
Although blockchain technologies offer several security benefits, every technology represents new opportunities for malicious attackers -- not to mention user errors.
In a world of distributed record-keeping and decentralized applications, individuals must assume greater responsibility for their online security, and businesses must mitigate threats far beyond their own walls and proprietary assets. For both, this begins with a security mindset.
Continue reading: https://www.techtarget.com/searchsecurity/tip/8-best-practices-for-blockchain-security
