The Weakest Security Links in the Blockchain

“Despite the technology’s promise to transform how business is done, there are significant limitations and potential risks at the intersection of the digital and physical worlds……..The problem with migrating blockchain outside of financial services and into distributed edge computing applications — especially, the Internet of Things (IoT) and the Industrial Internet of Things (IIoT) — is that data can be corrupted before it’s added to the blockchain. If corrupt data infiltrates the blockchain, the benefits are lost.”. Source: Drew Peck & Tim Butler, DarkReading.

“Fundamentally, blockchain technology enables the recording of events or transactions on a distributed ledger. This ledger is shared and accessible to all participants, not owned by any, and records data securely, immutably, and permanently. Essentially, a blockchain is a constantly growing set of interdependent blocks containing data, with each block recording an event or transaction. The game changer is that those blocks are distributed across a decentralized network, and every member of the network has his or her own copy of the entire blockchain.

If blockchain essentially is a digital record keeper, then blockchain is only valuable if those records can be trusted. Blockchain is trustworthy becauseof the decentralized nature of the network and the new database structure. The broad distribution of many copies of the blockchain provides an unprecedented level of trust because no single party controls the data and there is no single point of failure or tampering risk.

In the real world, the ends of the blockchain are the physical assets — i.e., in commercial, industrial, supply chain, IoT, and IIoT applications — for the data and records to get into the blockchain, companies need an interface and physical data storage for the data related to those assets.

Most hardware isn’t secure — whether it’s the storage or the interface, there is frequently a direct trade-off between security and usability. Additionally, the most common memory architectures used today are specifically designed to allow simple access and reprogramming, almost inviting tampering by bad actors. Data manipulated before being added to the blockchain would be unreliable, rendering the entire chain of trustworthy transmission and recording useless.”

Full Dark Reading article here:

The Weakest Security Links in the (Block)Chain