Lyle Hauser shares his thoughts on why when comes to online security, nothing is foolproof, though Digital Ledger Technology (DLT) like blockchain comes awfully close.

1. How DLT Offers Greater
Online Security
Lyle Hauser

2. When it comes to online security,
nothing is foolproof, though Digital
Ledger Technology (DLT) like
blockchain comes awfully close.
The increasing popularity of DLT has
led to increased investment, with the
potential for even more on the
horizon. CSO cites Transparency
Market Research indicating that the
DLT market is expected to reach
$20 billion by 2024, and Gartner
projections that put the value at
$176 billion by the following year.

3. What is DLT? It is a decentralized ledger — i.e., one that requires
neither a vendor nor service provider (e.g., a bank) — the use of
which was best illustrated by MIT Technology Review using the
popular cryptocurrency Bitcoin, which is powered by blockchain
In blockchain, the ledger is shared to multiple computers, called
nodes, giving each node the opportunity to verify every
transaction. A certain number of owners of these nodes then vie
to combine legitimate transactions into “blocks” that can be
added to a chain of those that came before.

4. Each block features a
cryptographic fingerprint known
as a hash, one line of defense
against hackers. The hash is a
result of considerable computing
time and effort, and leads to a
bitcoin reward; hence the notion
that the cryptocurrency has a
“proof-of-work” feature.
Any changes to the block require
that the miner conjure up a new
hash, and the other nodes verify
its validity, then update their
blockchain duplicates.

5. The hashes serve as links to each other in the blockchain. Any enterprising
hacker would therefore have to change not only a single block’s hash, but
those of the others in the chain. And that would require controlling at least
51 percent of the computers in the same ledger.
Any attack to a blockchain, whether that blockchain be public or private, is
nonetheless possible — that a blockchain’s infrastructure is a big
determining factor in just how secure it is. IBM recommends platforms
featuring security protocols that severely limit access to critical information,
as well as encryption keys.

6. DLT platforms such as Hashgraph hold
the potential to displace blockchain,
offering improved benefits that include
lower transaction costs, greater
mitigation of fraud and errors in
transaction processing, improved
tracking and an increased ability to
understand and utilize data and
analytics. Hashgraph in particular
offers unparalleled speed, having a
capacity to securely process up to
500,000 transactions per second – a
profound improvement over
blockchain.

7. The demand for distributed ledger solutions is fast outpacing the
supply; thus growing acceptance of cryptocurrencies as
legitimate forms of tender is fueling a fevered need for user-
friendly payment applications, application development
solutions and specialty products and services to better support
and secure the burgeoning crypto ecosystem while reducing
current risks. All are solid reasons why smart investment dollars
are flowing into the space — including several of my own.

8. THANK YOU!
To read the full article, visit;
lylehauser.com