It’s no secret that cybersecurity is one of the main challenges currently faced by our society. Hackers who got into government servers and private communication services have become a global threat. The blockchain could be a revolutionary technology in the fight against cyber threats, offering to protect databases and generally ensure integrity.
Data protection is today’s top cybersecurity priority for any company. Because of the increased sophistication of cyberattacks, there is an increasing demand for cybersecurity. Building the necessary cybersecurity protocols no longer requires relying solely on conventional information technology security controls.
Fintech, supply chain, food, insurance, and many more businesses will benefit from the tremendous breakthrough known as a blockchain. Blockchain technology is being widely adopted by business owners, decision-makers, and investors to change how organizations interact with one another, regulators, and with clients. With speedier capabilities for detection, mitigation, and reaction, this insight piece aims to analyze blockchain as an effective solution for managing serious cyber threats.
In this article, we’ll explore the benefits of blockchain in cybersecurity, how blockchain SIEMs work, and how your organization can benefit from them.
What is blockchain?
Blockchain is a decentralized, immutable database that makes it easier to track assets and record transactions in a corporate network. On a blockchain network, practically anything of value may be recorded and traded, lowering risk and increasing efficiency for all parties. Information is essential to business. It is best if it is received quickly and is accurate. Blockchain is the best technology for delivering that information because it offers real-time, shareable, and entirely transparent data that is kept on an immutable ledger and accessible only to members of a permission network. Orders, payments, accounts, production, and many other things may all be tracked via a blockchain network.
Who, what, when, where, and how much, —can all be recorded in the data block.
Every block is interconnected with those that came before and after it.
These blocks build a chain of data as an asset moves from place to place or ownership changes hands. The blocks link securely together to prevent any blocks from being altered or a block from being introduced between two existing blocks, and the blocks certify the precise timing and order of transactions.
Benefits of Blockchain in cybersecurity.
Blockchain enables us to guarantee that policies are followed.
Confidentiality: This means ensuring that only those with a legitimate need have access to the relevant information. Blockchain data is completely encrypted to prevent unauthorized parties from accessing it as it travels over unreliable networks. To stop assaults from within the network, security measures such as access controls should be put into place right at the application level. By employing public key infrastructure to authenticate participants and encrypt their communication, blockchain can offer sophisticated security measures. However, there is a substantial danger of theft of private keys when backup private keys are kept in secondary storage. To avoid this, cryptographic techniques based on integer factorization problems should be used, as well as key management protocols like IETF or RFC.
Integrity: Organizations can ensure data integrity by utilizing the immutability and traceability features that are built into blockchain technology. In the event of a 51% cyber control attack, consensus model protocols can assist businesses to establish procedures to prevent and control ledger splitting. In Blockchain, the past state of the system is recorded with each successive iteration, creating a fully traceable history log. Smart contracts can be employed to validate and uphold agreements between parties, preventing miners from extracting data blocks.
What Is Blockchain SIEM?
The Blockchain SIEM
The term “Blockchain SIEM” is relatively new, but it’s already gaining traction among cybersecurity professionals. A Blockchain SIEM is a security information and event management (SIEM) system that uses blockchain technology to monitor and analyze security events. In essence, it gathers all the data being gathered by your organization’s existing security tools—and then gives you an overview of all the activity on your network in one place.
A blockchain SIEM makes it easy to track everything from malware infections to insider threats because every action taken by an employee or user gets recorded on a public ledger, which means anyone can access this data if they need to. This also means that any attempts at tampering with that information will be immediately noticeable as well: any changes would require approval from multiple parties for them to go through!
Blockchain SIEM Authenticates the Identity of a Normal User
- Blockchain SIEM Authenticates the Identity of a Normal User
A blockchain SIEM can authenticate an employee’s identity and check if he/she is authorized to access certain data, or even be part of a specific organization. In most cases, this authentication process will be built into the system from the ground up so that it’s seamless for both administrators and users. This also includes being able to verify if an employee has left their company or revoked access (de-authorization).
Blockchain SIEM Monitors an Abnormal Situation in Real Time
Blockchain SIEM can monitor an abnormal situation in real-time. For example, if a node is compromised and is sending malicious data to other nodes, or if a user attempts to tamper with the blockchain itself.
There are several ways in which a blockchain SIEM could monitor that abnormal situation:
- It could detect anomalies in the flow of data across nodes and networks.
- It could detect inconsistencies between multiple nodes’ security policies, templates, and baselines.
- It could be programmed to automatically stop rogue transactions before they happen by detecting suspicious network activity beforehand
Blockchain SIEM Assists in Investigation of Cyber-Attackers and Unidirectional Audit Trails
Third, blockchain SIEM systems can be used to assist in the investigation of cyber-attackers. Blockchain SIEM makes it possible to identify the source of an attack and track down its origin with greater accuracy. This is especially useful because many attacks are launched from servers that are in countries where laws do not allow access to these servers.
Blockchain SIEM offers an opportunity for companies to gain insight into the activities of their employees and their authorized users without compromising their privacy or exposing confidential information. With this technology, businesses can keep track of who accessed which piece of data at what time, allowing them to determine whether an employee is accessing a system for malicious purposes or simply as part of his or her job duties.
Companies have been adopting various technologies such as artificial intelligence (AI), machine learning, and predictive analytics over the past few years but these tools still lack one feature: context awareness (CA). CA refers to being able to understand why something happened rather than just knowing what happened.
Blockchain SIEM Notifies Users of Attack Suspicion and Reduces Response Time
With blockchain SIEM, you can alert users of attack suspicion and reduce response time. As a result, you’ll be able to identify and prevent cyberattacks using the right tools on time.
Blockchain SIEM provides real-time security intelligence that keeps your organization safe from malicious activity and data breaches. It also records all events on the network in an immutable ledger that cannot be changed or deleted by unauthorized users or administrators. This means that all events are recorded permanently on the blockchain, which helps improve visibility into systems and networks without relying on third-party vendors for monitoring software licenses or support contracts.
What is encrypted and how?
- Search in encrypted records – usually, even log collectors that encrypt log data, keep a recent index with decrypted data for searching purposes. LogSentinel has developed a search in encrypted records to prevent data leaks from such indexes.
All data on the SIEM – all logs are being encrypted to avoid data breaches.
- Every record is individually encrypted. Databases typically encrypt an entire column, row, or table. However, in addition to that encryption, we separately encrypt each record, requiring anyone attempting to decrypt the data to locate the key for each record individually.
Blockchain is not only a database, blockchain can also be used as an event stream processor and even as a SIEM. Use cases are limitless and depending on your needs, a blockchain solution might be the best fit for you.
There are several ways that you can leverage blockchain to improve your cybersecurity, including verifying identity, detecting attacks, and protecting data integrity. Many organizations have already begun using these features of the blockchain in their day-to-day operations
The blockchain is a technology that has the potential to radically change the way businesses operate. It has been used in several industries, including healthcare, financial services, and cybersecurity. Businesses should consider their options for implementing this new technology so that they can take full advantage of its benefits.