Intro to Blockchain as a Service (BaaS)

Blockchain? I’m not sure what it is, but I know that bitcoin used to be worthless and now is worth a lot. HODL! (hold on for dear life) Bitcoin can be forked, so blockchain is a scam. Bitcoin uses blockchain technology, that means it is backed by math and code!  These are just some of the things CITATION T_H20 l 1033  (T_HQ, 2020) you can expect to hear if you go down the rabbit hole of blockchain. But what is it really? And what is BaaS?

The textbook answer is that Blockchain is a growing list of blocks that are linked using cryptography. It’s like if during World War II the allies gave the Germans all their secrets and told them the more they got a secret the harder the next one would be. Only in reality it was the opposite when the allies intercepted Enigma. [1]  The first official conceptual use of Blockchain technology was used in the 1990s when a cryptographer launched Timsec. This use as a ledger system provided a cryptographic hash that acted as both a digital receipt as well as provided authentication and non-repudiation is what lead to this type of technology to be used in the first cryptocurrency which was Bitcoin. [2]

While it is true that cryptocurrency is one of the uses of Blockchain, it is also true that because of the large scale implementation of cryptocurrencies and the transactions that occur and are processed by miners, this has led to an interesting economy of blockchains that can be provided as a service. One of the most interesting and prevalent way to use blockchain is to combine it with AI:

“Due to the coronavirus outbreak, global supply chains are somewhat stagnant in many sectors. In response to this, IBM has assembled (Read more...)

*** This is a Security Bloggers Network syndicated blog from The Ethical Hacker Network authored by JT. Read the original post at: http://feedproxy.google.com/~r/eh-net/~3/PJDrSvD_qPI/