Cyber Security for your Blockchain
Infrastructure with cyberscan.io®
Blockchains are considered tamper-proof, but nevertheless cybercriminals repeatedly gain access to corporate data and financial flows.
With cyberscan.io®, you can continuously monitor your blockchain infrastructures to close these security gaps, enhancing the full potential of this technology.
Why does optimizing the security of your blockchain make sense?
Industries such as the financial sector, the pharmaceutical industry or logistics, are increasingly using blockchain technology to share data, process deals or handle financial transactions. This is because blockchain infrastructures are supposedly secure. Each data record is stored and processed in a decentralized manner and attached to a chain of data records in cryptographic form. However, even these systems are not immune to cyberattacks and there are individual points of attack through which hackers can cause immense damage. The German Federal Office for Information Security (BSI), for example, has reported numerous security incidents in its publication “Blockchain sicher gestalten” (Designing blockchain -securely) citing damages in the millions. Increased IT security measures are therefore essential for blockchains.
To support companies in increasing their blockchain security, our experts in the Innovation Lab have developed the services of our IT security tool cyberscan.io®. This provides you with important information about vulnerabilities within your blockchain infrastructures and enables you to permanently monitor your own network nodes and instantly close the security gaps.
Three use cases from cyberscan.io Innovation Labs
The question is always which components of a blockchain system should be given special attention? And how exactly do companies succeed in optimizing the IT security?
The following three use cases illustrate where the use of cyberscan.io® pays off to counteract risks within their own blockchain infrastructures:
Whether in a VPN network or in the cloud: cyberscan.io® enables you to secure your company’s enterprise blockchain infrastructure in a targeted manner. You have an overview of your nodes via our all-in-one dashboard. This enables you to comprehensively protect sensitive data and internal systems that are connected to the Enterprise Blockchain in a comprehensive way.
When you use cyberscan.io® to manage the risks of your Oracle systems, our vulnerability monitoring enables you to identify current cyber risks at an early stage as well as to continuously ensure a high quality of off-chain data for your smart contracts.
Protect Validator Nodes
Validator nodes, which are an important security instance within a blockchain and frequently preserve large amounts of crypto assets, are a popular target for cyberattacks. With cyberscan.io®, you receive automated notifications about current vulnerabilities and security risks in this area and can react promtly to loopholes in your cyber security.
What are enterprise blockchains?
An enterprise blockchain is a blockchain with a highly restricted group of participants, in which each operator of an associated network node must be officially included. Since the visibility of the exchanged data is limited to the defined group, this blockchain type is considered particularly private. Governments, authorities and institutions as well as cross-company networks that exchange data, process global payments or want to monitor transactions or supply chains therefore opt for an enterprise blockchain.
This blockchain variant also offers a high level of security because the cybersecurity can be analyzed and optimized specifically via the few nodes with the help of a suitable IT security tool. In this way, the entire network is optimally protected against external attacks. This protection is important because the nodes are usually directly connected to internal systems, not infrequently with payment systems of their operators, and expose a sensitive weak point for cyberattacks.
In contrast, public blockchains such as Bitcoin are outside the control of a government, a company or co-operations. Due to the very large number of participants, they can hardly be secured comprehensively, but rather selectively.
What are Oracle systems?
The term Oracle System describes servers or programming interfaces (API) that connect blockchains with external (off-chain) data and trigger the execution of operations in a smart contract. Illustrated by a practical example from logistics, the arrival of a delivered good at the port of destination would trigger a digital payment to the supplier in accordance with the smart contract.
Due to their interface function between the real and technical blockchain worlds, Oracle systems have proven to be attractive attack vectors for cybercriminals. At these points, it is possible for hackers to interfere into the state of the Smart Contracts as well as manipulate external data. Therefore, companies do well to increase the security standards of their Oracle systems and minimize risks at an early stage – ideally through continuous vulnerability analysis.
What are Validator Nodes?
Validator nodes are defined by experts as the most important party within a blockchain network: they manage a high number of staked crypto assets. As an independent validation entity responsible for verifying, voting and recording transactions, validator nodes must be permanently online.
If such a node does switch to the offline status, the rewards provided for each validation are not paid out. This can lead to financial losses and a redirection of customers to other validator nodes. However, the greatest potential danger lies in cybercriminals gaining unauthorized access to the staked crypto assets. To avoid the associated loss of millions of dollars in cryptocurrency and reputational damage in the blockchain industry, it is critical for operating companies to secure validator nodes and to maintain their online status at all times.
Want to know more about how cyberscan.io® can help you optimize the security of your blockchain infrastructure?
Contact us – we will be happy to advise you.
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