Financial technology & blockchain specialist
The blockchain is often hailed for its immaculate security, its immutability, and the protection of its users’ identities. To uncover the true level of security, Igor discusses the mechanism itself, transaction validation and other criticisms.
The blockchain is often hailed for its immaculate security, its immutability, and the protection of its users’ identities. To uncover the true level of security, Igor discusses the mechanism itself, transaction validation and other criticisms.
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9 mins 41 secs
The blockchain is often hailed for its immaculate security, its immutability, and the protection of its users’ identities. However, there have been many cases where exchanges have been hacked and cryptocoins have been stolen. These hacks can be attributed to lax security standards not in the blockchain-system itself, but in the management and storage of data such as private access keys. The blockchain itself has proven extremely resilient and as more transactions are added to the chains of cryptocurrencies such as bitcoin, the safer the mechanism becomes.
Key learning objectives:
Explain why nodes would invest resources/computing power into the blockchain network
Understand whether attackers change blockchain history
Understand the 51% attack and why is it unlikely
This content is also available as part of a premium, accredited video course. Sign up for a 14-day trial to watch for free.
This content is also available as part of a premium, accredited video course. Sign up for a 14-day trial to watch for free.