Why is blockchain important for data privacy?

Central companies and servers can be vulnerable and weak against hacker attacks. Blockchain could increase data privacy and confidentiality. It can create more secure networks.

Blockchain data privacy

Hackers don’t just steal people’s money from their accounts. They steal information that is as important as money.. Recently, we have witnessed that hackers, who use the vulnerability on the websites of central companies, steal the identity information of people.. Hackers and cyber attacks also affect the crypto money markets in some places.. The latest BBC reporter wrote about the events that happened to him in his own column.. BBC reporter lost his password (private key) in his gmail account, which has a central server and structure, to hackers, and hackers stole his victim’s Ethereum worth 30 thousand dollars.. Blockchain proposes a more secure method of data privacy.

Please See BBC reporter discusses how he had their Ethereum stolen

Central A simple vulnerability in companies’ networks can lead to the theft of thousands and hundreds of thousands of people’s personal information such as passwords, usernames and emails.. Last July, information of exchange users was leaked due to a security vulnerability after the update on the QuickBit exchange.

Please See: QuickBit crypto exchange had the identity information of 300,000 people stolen

Not only our personal information such as password and user name, but also biometric information is under threat.. 23 gigabytes of biometric data used by many companies, including law enforcement and banks, was hacked in the UK this month.. It is claimed that this stolen data includes fingerprint data.. You can change your password when it is stolen, but how will you change your fingerprint? The common feature of the examples given is that they have a central structure.. Decentralized blockchain can increase data privacy and security.. When this target is exceeded, they can access millions of data.. When hackers have a lot of data, they can make cyber attacks at high cost.. Contrary to a cumulative data at the address targeted by hackers, if there is less data, the data to be obtained will be far below the cost of the hackers.. Therefore, central servers should be distributed and decentralized.. Decentralized blockchain can increase data privacy more than centralized structures.

Note: This article is not an investment advice.. It is for informational purposes.

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