Current Events Reporting
As an IT professional it is important that you remain current in the field. For this course, this will be accomplished by researching and reporting on current events relating to the management of information technologies. Prior to the first class, you will be assigned several dates. On your assigned day, you, individually, will be responsible for sharing a current event with the rest of the class. Prior to class time on your assigned day you will write a brief summary of your chosen current event (in MS Word) and post it. You will then explain the event to the class and how it relates to the course. You will be graded on your presentation and your written summary.
Duplicate current events will not be accepted.
This is the event I have chose: The use of Blockchain technology in cybersecurity
Current Events Reporting
The use of Blockchain technology in cybersecurity
Cyberattacks were launched against google servers back in September 2017, which were the largest. Google disclosed the event publicly in October 2020. The report described the incident as a distributed denial-of-service (DDoS) attack from a foreign origin (Forbes). In February 2020, another DDoS attack was launched on Amazon Web Services (AWS) customers. It was also the most potent attack launched on AWS and any company up to that period. A Russian-based search engine known as Yandex was also hit with a DDoS attack. That happened in September 2021, and it was the most significant attack in the Russian internet segment.
Blockchain has been the next big thing in the world, and it has gained notoriety as the basis for Bitcoin over a decade ago. It is now in parallel with cryptocurrency, but additional applications have emerged as platforms for various functions beyond non-fungible tokens (NFTs), crypto-like smart contracts, and decentralized financing. It is hard to attack blockchain due to its decentralized, consensus-driven nature. Bitcoin is one of the blockchain solutions that utilize proof of work validation methods (Ahmed et al., 2021). Therefore, it is hard for hackers to access most nodes to compromise ledger transactions.
DDoS attacks happen when attackers take advantage of the internet due to its decentralized nature. They aim to maintain anonymity and overcome resistance to the attacks they initiate. They exploit the internet domain name servers (DNS) that locate the IP addresses to readable website names. Moving DNS to blockchain enables resources to be distributed to different nodes, making it hard for attackers to manipulate the database. Creating applications or databases alone will not make the blockchain invulnerable to attack. I believe that, with the government playing its part in cyberwarfare, it will be more difficult to initiate an attack on blockchain.
(n.d.). Forbes. https://www.forbes.com/sites/forbestechcouncil/2022/03/04/how-blockchain- could-revolutionize-cybersecurity/?sh=2b0f21bf3a41
Ahmed, I., Darda, M., & Nath, S. (2021). Blockchain: A New Safeguard to Cybersecurity. In Blockchain Technology: Applications and Challenges (pp. 271-284). Springer, Cham.