The Role of Blockchain in Ensuring Data Security: Key Benefits Explained
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Summary
The popularity and use of blockchain technology have increased significantly in recent years, with its most notable use being to host cryptocurrency exchanges
The fundamental component of its design that makes it so secure is that each block is interconnected with all others in a linear chain, and all information within the chain is visible to all users
As popular as it is, blockchain technology has been touted as one of the most secure forms of digital record-keeping on the market today
It provides enhanced data integrity through its immutable ledger that ensures data immutability, distributive security that prevents single points of failure, transparent transactions that foster accountability, robust access controls that require multiple approvals and restrict authorised users, and advanced cyber threat protection that resists hacking and tampering while enabling real-time threat detection
The synergy between blockchain technology and AI has also been highlighted, along with the potential for expansion into the healthcare and finance sectors