International Symposium on Blockchain Advancements ─ Blockchain Security Considerations

Coinlive reporting at the International Symposium on Blockchain Advancements: A New Interoperability Dimension Coupling DeFi and CeFi event at InterContinental Singapore. Charlie Kaufman, System Security Architect at Dell EMC, is covering the topic “Blockchain security Considerations”. He brings up blockchain security and states that most security issues are not from the blockchain itself but from the applications. The blockchain design is robust; if the blockchain maintainers lose contact with each other, each connected group will continue to add new blocks and confirm transactions as though the others do not exist. However, some blockchains will halt if a network partitions into too many small groups. So, there is a design tradeoff between possibly halting and producing forks. In summary, blockchain is a tool that does something exceptionally well but poorly too. Blockchain might help with an application’s security, but that is not all. Therefore, knowing the problem and picking the best tool for the job is crucial.