6 Ways to Keep a Blockchain Network Extra Safe

Blockchain / November 6, 2018 / Comments: 0
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They often say, blockchain is the most secure technology that can protect your data and funds from invaders. In fact, blockchain is a highly-encrypted network immune to unauthorized changes that ties up blocks of sensitive data. However, in an ever-changing IT world, there are lots of loopholes helping to “beat the system.” To make your blockchain experience seamless and hassle-free, Elegro team shares a few ways on how to keep a decentralized network safe.

Use blockchain as a mirror storage

The smart thing is, you don’t actually need to store the original data directly on blockchain. Following the mirror storage idea works better. The idea is to keep a cryptographic checksum or a mirror image of the original files on the network. Such a practice offers extra protection to your information.

Keep your cryptographic keys in safety

To access blockchain network, you need to use private cryptographic keys. Sure thing, you need to store the keys in a secure place, away from prying eyes of scammers and hackers. Saving your keys in a plain text document or using them without encryption is a bad idea. No, really, someone can easily steal crucial data by using specific malwares. Instead, you can rely on high-security storage drives to eliminate security threats in the network.

Proof-of-Stake algorithm keeps away 51% of the attacks

Everyone knows: blockchain stands for decentralization. On the other hand, there are only a few mining pool consortia controlling a large portion of the Bitcoin and Ethereum networks. The point is, a consortium can gain enough power to use brute force and change sensitive data as it see fit. Luckily, there’s a way to avoid the 51% of the “brute attacks.” Switch to less vulnerable Proof-of-Stake or Delegated Proof-of-Stake consensus algorithm. Raise the number of required confirmations to save a lot of nerve cells.

Blockchain coding: do it carefully

If you are about to implement a blockchain code, check it twice or even thrice. A poorly coded system is exposed to wide range of security threats. In this regard, your accuracy will help your defense.

Deal with vendors you can trust

These days you can find a whole bunch of vendors offering advanced solutions in fields of FinTech, smart contracts, etc. That means you can face higher risks of getting low-quality services from some providers. To avoid the frustrations, check reputations of all vendors before ordering their blockchain-based solutions.

Make some time to check if HTTPS URLs are OK

One more way to protect the blockchain network is to make sure if HTTPS URLs are in order. If they are, feel free to process blockchain transactions.

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