Regardless of any hype about the security of blockchain, enterprise blockchain platforms should never ignore the necessary security measures.
Many people are assuming that the security of the blockchain is for sure from the beginning. However, a blockchain platform is a software with code, and code can be hacked. Therefore, developing security solutions in parallel with blockchain solution development is essential.
Synopsys has shown much interest in enterprise blockchain platforms in terms of the cybersecurity space.
Synopsys is a technology company with the world’s most advanced technologies for chip design, verification, IP integration, and software security and quality testing. It provides other enterprises on-demand expert penetration testing services with its Synopsys Managed Penetration Testing.
Some experts have already stated their opinions on how to make blockchain platforms more secure for business.
Threats on enterprise blockchain platforms’ security
Although distributed ledger technology and consensus algorithms have been around since World War II, blockchain has only existed as complete software and platforms for the past few years.
Besides, the scope of blockchain adoption has not yet expanded. It still has much space to explore and develop, accompanied by the new threats of decentralized software. The point is that the irreversible nature of technology can make fixing vulnerabilities in existing ways more difficult or ineffective.
According to Stark Riedesel, associate principal at Synopsys said when it comes to enterprise uses, “the risk is to the 5% of companies not investigating blockchain in their industries.” Much of the effort to prevent risk comes down to anything that involves software: Testing, Analyzing, and Fixing the bugs before releasing them.
Anything that needs to be done for a secured enterprise blockchain platforms
Three main tasks for the C-suit to follow to lower the security threats to most enterprise blockchain platforms:
- Examine the whole system and the role of blockchain in terms of the protection properties it’s meant to have.
- Analyze the source code to ensure that those assertions are correct.
- Test the live system to see how you can even get through the controls in imaginative ways.
Audited and proven frameworks are essential for creating secure code from standard patterns, such as authentication and authorization, monetary transaction handling, or safe math operations.
Also, “Threat “modelling is helpful for systematically identifying all components of the system, potential threat actors, and controls provided by the platform. This model is aimed to provide the overall security of the system and support security teams on additional security measures decisions.
Finally, leaders need to pay attention to security governance and policy to guarantee user’s information and assets.
Enhanced security with akaChain
Synopsys also did a penetration test on akaChain blockchain platform. The outcome is satisfactory since the report points out that akaChain can resist the common attack patterns from unauthorized users.
Security remains one of our key focuses. Hence, we also intend to bring in the Hardware key integration to enhance the transaction security. For stability, to respond to the ever-growing demand of our customers, we will improve the performance of the blockchain to 500tps.
Understanding our strengths and weaknesses, currently, we focus on organizations with the multi-industries ecosystem and multi-regional subsidiaries. We’re operating predominantly in Asia, and Dubai is one of our priorities since the government encourages the adoption of blockchain technology.
Check out our blog to learn more about blockchain, or leave us a message if you are interested in securing your future enterprise blockchain platforms.
akaChain is backed by FPT Software, a globally leading technology, and IT services provider. It is an end-to-end, permissioned, multi-chain network based on the Hyperledger Fabric. Since its establishment in September 2018, akaChain’s product has assisted many enterprises, from SMEs to Fortune 500 firms, to transform with distributed ledger technology. The company provides a broad range of permissioned blockchain-based products and services in multiple sectors, including retail, supply chain, banking and finance, insurance, shopping mall management, etc. to transform with its distributed ledger technology. For more information, please visit https://blog.akachain.io/.
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