(Photo by Hitesh Choudhary on Unsplash)
We have all heard that Blockchain is essentially a virtual ledger shared over a distributed database. This means that all information exchange on it (including the financial transactions that are being generated) is continually being verified and stored on various nodes across the globe. So there is no one critical point of failure............kill one node and it'll survive in hundreds of others, even thousands. It
Not only is a blockchain secure from being taken down but it is protected by encryption so un-breachable that theoretically we have a greater probability of an asteroid taking down this planet than a good blockchains encryption being cracked open. (There is a reason why hackers find a way around this rather than through this encryption. That is why the hacks and security breaches are by compromised passwords, bug exploitation, phishing, etc.) The fact is that as long as you can get your hands on the coins without the owners permission, it would be called hacking.
The blockchain can theoretically be hacked in a number of ways, but most common hacking attacks include, Sybil attack, Routing attack, DDOS, etc. Their is one truth of hacking - theoretically, everything is hackable.
You'll find that blockchain hasn't put an end to hacking. In fact it has even inspired some new ways of disrupting the network or trying to control the consensus. Nevertheless, the blockchains are still some of the most secure locations to keep your money in form of tokens (both fungible and non-fungible). Keep in mind that protecting the keys and passwords to access these tokens is each individuals personal responsibility.
Here is the summary of things that have made the community at large interested in the Blockchain:
Shameless Referrals
