The word ‘hack’ is ambiguous in the digital realm. It takes a variety of meanings under different contexts. But when it comes to the blockchain, to hack is to have power over it, thus possessing control over more than 51 percent of the computers interlinked to it, which is impossible.
How does blockchain work?
The Blockchain technology is an immutable ledger. A set of entries is called a block and multiple blocks linked one after the other together constitute the blockchain. They are shared with all the users in the network. The ledger data is validated through a common consensus mechanism. The entries on the ledger are made immutable by several computers performing computations to validate them. This is called hashing the block.
Hashing involves crypto-encrypting the entries. Each block has a heading entry that denotes the link to the previous block. This helps in identifying the sequence. Hash algorithms ensure the changes made during encryption by subsequently changing the entire segment of data bits. Thus backtracking is not possible.
Why it cannot be hacked?
Now that we understand how the blockchain works, let us understand why it cannot be hacked.
1. One cannot overhaul the sheer number of computers that validate the entries.
2. Crypto encryption adds complexity to the ledger data that cannot be decrypted easily.
The above-mentioned factors make blockchain intrinsically a very secure technology. It’s decentralized nature and cryptographic algorithms make it immune to attack.
Comments
Post a Comment