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Building Trust When You Need It the Most with Blockchain Technology

Robust Your Current Backup Solutions with Blockchain Technology Backup

Blockchain is a buzzword these days in technology. Nearly everyone has heard of it but, not everyone understands it. In this article, I will explore how blockchain works and why you should include blockchain in your current backup solutions.

Let’s start from the beginning. The first application of blockchain technology was “bitcoin” and it was released in the year 2009. We all are familiar with the word of bitcoin. Bitcoin is the cryptocurrency which refers to a digital coin. The blockchain technology unpins it and the digital coin runs on the blockchain. Blockchain technology is now shifted to many other real-world use cases.

What Is Blockchain Technology?

When it comes to interaction between two enterprises, the major concern is “trust”. Regardless of the type of transaction between the two enterprises, there is always a need to include a third party which ensures that neither of the party has to worry about fraud.

Blockchain is a type of diary which is nearly impossible to falsify. In a modern world where we do anything, it involves data. Blockchain is an innovative way to store and move the data. The data is then, spread over thousands of nodes across a network and all is locked with the help of cryptography. Let’s study it in detail.

Through blockchain technology data is managed in blocks. These blocks are then, growing the list of records. Each of the blocks has the link to the previous block. In this way any change in the data can be recorded. There are some important points, reading blockchain technology:

  1. Blockchain is a type of diary which contains the information of data.
  2. Each change in data generates a “flash hash”.
  3. “Flash Hash” is a string which comprises of combination of numbers and letters.
  4. Each change in data is listed in the way, it occurred. It is always kept in order.
  5. The flash hash of any change in data depends on the flash hash of the previous change in data.
  6. Even a small change in data generates a new flash hash.
  7. The nodes make sure that any change in data has not been changed by, reviewing the hash.
  8. After the review if the change in data is approved by majority of nodes then it is written in a block.
  9. Each block then is referred to the previous block and thus makes a blockchain.
  10. In majority of the cases blockchain updates itself every 10 minutes.

Why you require blockchain technology for smart backups?

Data rules our lives. Keeping your data at one place whether on private server or the cloud, has a little risk. You lose track of the versions of data which kept or being out of sync. Keeping backup of data works for most of the cases but they are vulnerable to the attacks at the same time. Data breach is the emerging threat to your data. Cloud backup solutions have emerged as a secure and cost-effective data protection options for businesses. With today’s ever increasing flood of data and evolving threats it is essential to deploy a backup solution which meets the needs of today. Blockchain is the safer approach it can’t necessarily stop that from happening but it removes the risk associated with data. Blockchain allows you to have enhanced data security.

Many industries have started using blockchain technology. The blockchain technology is now widely used in the data protection scenarios. Many companies have initiated the concept of Blockchain backups. It provides the authenticity and security for the data and transactions of any kind. It makes the data tamper-proof.

Through blockchain technology the change in data produces a unique signature and these signatures then enter the blockchain and they can never be erased. Block-chain based backups are known to be “immutable” and provide “uncensored truth”. With blockchain backups whether on the local drivers or the cloud you can add the level of authenticity to your business data.

Conclusion:

In the current data environment data has a constant threat and traditional backups don’t guarantee data protection. Transforming your infrastructure to the advanced technologies is the key. Creating a new data protecting paradigm where the data is not just copied, backed up but it is protected and each change is recorded via blockchain based verification is the smart pick for your enterprise.