We live in an interconnected society and everything we do is somewhat online. Technology has given us the ability to do things today that even 20 years ago seemed impossible, and new technologies are popping up in an extreme pace.
Naturally, this has brought up many threats to our safety. The everyday person doesn’t want to think about security or possible vulnerabilities. Even if they are aware of the risks, they most likely don’t have the tech background needed to defend against online threats.
In the midst of the massive influx of innovation, people have gotten used to the convenience technology brings them. We have gotten used to being able to get whatever we want, whenever we want it at the touch of a button. Want some Chipotle delivered to your house? Then Uber Eats can have it at your door in 20 minutes. Want to check your bank account? Tap your password and you’re within seconds.
The devices, apps and websites we use expose us to all kinds of issues. A lot of the current proposed solutions that increase security haven’t been successful, as they can take away from the convenience we have come to accept and demand. For instance, using password keepers to secure your personal passwords might be one of the most critical ways to stay safe, but some people find that using all those apps and browser extensions is a burden. Even worse, those could just end up getting hacked as well with our passwords inside.
Through the use of a blockchain, permission, trust and centralization are removed. In an optimal blockchain – and of course this isn’t always the situation – no one user has more power than another. By removing a trusted third party, data can be stored in confidence by maintaining consensus.
There are different methods of achieving consensus and this depends on the chain, but the basic method requires over half of a network participants to agree on a change. Controlling that much of a network is extremely difficult for an attacker to do, especially when a network is protected by computing power.