The difference between Blockchain security and Cybersecurity has always been Greek to most people?they have mixed up these two terms. However, there are huge differences between them. Do you find yourself in the same situation? Worry not, as this is what we will answer in this blog.
Simply put, Blockchain security is ?decentralized?? which means that no central authority monitors the transactions, while Cybersecurity is ?centralized?? which means that there is a central authority that monitors the system.
Blockchain security is the security measures that aid in keeping the blockchain network safe and the data stored on it away from unauthorized access, manipulation, and disruption. These measures include encryption and consensus mechanisms. On the other hand, contrarily, Cybersecurity covers various security procedures that guard against cyber threats, including hacking, malware, and phishing for all kinds of electronic systems, networks, and data. While both of them are related, they are not the same.
Let?s dive deeper into these two concepts and determine how they differ. ImmuneBytes is the perfect place to get all the answers from. Our panel has erudite experts who won?t leave any stone unturned.
So, let?s begin.
What Is Blockchain Security?
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Considered to be relatively in its nascent stage now, blockchain was created to support Bitcoin. Over time, people realized how popular it was, with its uses going beyond cryptocurrencies. With the popularization of blockchain, the question was, was it secure enough to store digital assets safely? Hence, the concept of blockchain security entered the scene.
Blockchain security is a complete risk management system for blockchain systems. It describes the steps to guard against unwanted access, manipulation, and interruption of a blockchain network and its data. These measures include network architecture, cryptographic mechanisms, and consensus algorithms. With them, it becomes possible to safeguard the integrity and immutability of a blockchain network.
Blockchain security deals with assurance services, cybersecurity frameworks, and best practices to mitigate the risk of fraud and cyber-attacks.
Additional Read: What is Blockchain Security Audit?
How Safe Is Blockchain Technology?
Did you know that blockchain architecture has significant built-in security features? This underlying technology is behind dApps, cryptocurrencies, and NFTs. Once you add data blocks to the blockchain database, they become immutable. No one can change them to siphon off funds. The consensus mechanism verifies the transactions and secures them against malicious hacking exploits. With the help of these features, blockchain ranks among the most secure databases ever created.
Despite this, we see so many hacking incidents in the headlines daily! How?s that possible? That?s because smart contracts aren?t properly audited and have vulnerabilities. The hackers find them and turn them into expensive exploits.
Additional Read: Most popular smart contract vulnerabilities
Other than this, these are some of the blockchain cybersecurity threats that you need to watch out for:
- Stolen keys
- Code Exploration
- Routing attacks
- Ice Phishing attacks
- Sybil attacks
- Computer hacks
- 51% attacks
- Frontrunning attacks
This brings us to the fact that blockchain security still needs to be taken seriously. To escape fatal hacking incidents, we must prioritize protecting the integrity and immutability of data stored on a blockchain.
What Is Cybersecurity?
Cybersecurity includes various security measures that protect electronic systems, data, and networks against online threats, including hacking, malware, and phishing for all kinds of electronic systems, networks, and data. This includes security measures like firewalls, network security protocols, intrusion detection, and prevention systems.
Why Is Cybersecurity Important?
Every organization has so many new users, devices, and programs combined with an increased deluge of data?the majority of which is confidential and sensitive information. Naturally, there is a pressing need to establish a robust cybersecurity department. Only then the growing volume and complexity of a plethora of cyber attacks and techniques can be put to an end.
While blockchain security and Cybersecurity are related, they are different. While the former centers around safeguarding the integrity and immutability of all the data stored on a blockchain, the latter primarily focuses on protecting computer systems and networks from a wide range of attacks and cyber threats.
Additional Read: Traits of a Good CyberSecurity Consultancy company
Now, we are in a position to understand the difference between cybersecurity and blockchain security.
Cyber Security V/S Blockchain Security: The Differences
Just like others, you, too, might need clarification about the never-ending tussle between these two concepts. However, by now, you would definitely be able to distinguish between them.
To make the task a little easier for you, we will list the major differences between cyber security and blockchain security in the table below.
|Cyber Security||Blockchain Security|
|Denial of Service (DoS)||Targets a company?s web server to prevent customers from accessing the services.||It involves submitting more transactions to the blockchain than it can handle.|
|Endpoint Security||Endpoints are under the control of the enterprise and have some level of heterogeneity.||Endpoints are completely homogeneous nodes.|
|Intentional Misuse||Intentional misuse of the system by clients is what is possible.||Systems use Proof of Work to incentivize miners to do something.|
|Code vulnerabilities||The company writes most of the code, and vulnerabilities can arise only from the code that the company controls.||Anyone can write a smart contract, and any vulnerability in it can cause a massive hack and loss of funds.|
|Data Protection||Access is strictly controlled by the owners, ensuring confidentiality and integrity.||Data is distributed, and everything relies upon the blockchain to provide integrity and availability.|
We hope we have brought together all the points through which it will now be simpler for you to distinguish between the two concepts now. If something else is bothering you, you can always turn to our smart contract auditing experts at ImmuneBytes for guidance on many topics in this field. We are all ears to your queries and would love to hear from you.
Over the years, blockchain security and cyber security have been thought to be synonymous with the advancement of technology. However, in reality, that?s not the case. Both of these concepts are way different from each other, and so are their characteristics and related concepts. To dwell deeper in their respective fields, you need to fathom how they are distinguishable.
We hope this blog does serve the purpose! If there?s something else that we can help you with, get in touch with us today.