Despite being well known as the software that underlies cryptocurrencies, blockchains have far-reaching applications within our society. These immutable, decentralized public databases have been incorporated in the health care, legal, and financial systems. Because they have become so ingrained in crucial aspects of our day-to-day lives, their security and privacy is imperative.
How does blockchain technology currently meet this need? Through a decentralized structure and an unchangeable public ledger, blockchains reduce the threat of outside malware attacks and hackers. In addition, through cryptography, hashes, and keys, blockchains protect the privacy of users and their data. These features currently enable blockchain to address security and privacy in an efficient manner.
However, what are the downsides of these features? What areas need improvement? Is the current security and privacy of blockchains scalable? The Harvard Technology Review strives to explore these difficult questions while also deepening your understanding of the current status of security and privacy and addressing the important role of this field in the future of blockchain and society.