Realizing the increasing contribution of blockchain in world technology, cybersecurity plays a crucial part in its growth and development.
According to an article tweeted by EOS Block.one by the Head of Developers Relations, there is a doubt on the public servants whether they take the cybersecurity seriously or not. It is the next best common sense to embrace the blockchain and its expansions.
The government’s IT system is said to be vulnerable to risks. This was seen in the Wannacry ransomware attack after the National Health Service computers were put out of action last year. Wannacry ransom attack occurred last year wherein windows Operating systems were hacked and the users were asked the ransom in Bitcoin.
According to the sources, it is in the hands of the blockchain companies itself rather than depending on the government legislation.
Earlier this year, Interpol reported that blockchain can be repurposed by hackers to export malware to all computers within the network. Interpol proved this by introducing a proof-of-concept malware that showed the viability of such a cyber attack.
In the event of an actual attack, blockchain’s virtues, such as decentralization and immutability, would instantly become vices, as the malware would spread far and wide and the pollution would not be easily erased.
The Head of Developers Relations, Serg Metlin tells us how EOS integrates security solutions,
“The first is integrating technology such as the EOSIO open-source blockchain protocol into operations and moving responsibility for authentication and authorization processes to users themselves. If we all have private keys to authorize transactions, banks and other organizations won’t have access to them.”
EOS price analysis:
At the time of writing EOS is trading hands at $5.38 along with a red number 0.33%. With number 5 rank, the market capitalization is recorded at $4.87 billion and volume of over $420 million for 24h.
The graph of 7 days show a slight decline, and 1-month graph shows the recovery of the stock after a major decline in the prices(a sluggish market).