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Blockchain - Decentralized Applications with Azure Blockchain as a Service RRS feed

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  • Blockchain has emerged as a solution for streamlining business processes, verifying transactions, and reducing the potential for fraud. This article introduces Blockchain as a Service (BaaS) in Microsoft Azure to build a secured data structure and create a distributed transactional digital ledger.

    Read this article in the July 2018 issue of MSDN Magazine

    Monday, July 2, 2018 8:00 PM
    Owner

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  • Please comment on how blockchain defends against a computer with many gpu(s) with the intent of cracking security....As you point out, the "computer system has locally, a complete point int time physical copy of the blockchain data set" and virtually unlimited processing time.......the probability of cracking the encryption is high. Moreover, you cannot detect the breach if and when it occurs.

    Tuesday, July 17, 2018 3:01 PM
  • You are correct in saying that a malicious attack to a node in a blockchain network, with the intention of tampering with the data stored in it, can be successful in some time and with the use of powerful computing. There are two features in a blockchain that make this a pointless effort: gas and hash.

    Each transaction in a blockchain requires some "gas" to be consumed. Think of gas as a transaction fee. The more data you handle, the higher is the fee you pay. This fee is expressed in the cryptocurrency of the blockchain platform in subject, BTC for Bitcoin or ETH for Ethereum, for example. Spending a lot of gas may not be financially convenient.

    Assuming you are successful in cracking the level of encryption of data in a transaction, and you alter its content, you cannot commit the modified block back to the original blockchain. Each block has a unique hash. As soon as you change even a byte of data, the hash is different. Significantly different. Because blocks are connected to each other in a chain of hashes (block n references the hash of block n - 1, block n - 1 references the hash of block n - 2 and so on), as soon as a hash is modified, the block is out of sequence and the chain is broken. So the node is out of the network. In this way, the breach can be detected and the node removed from the blockchain.


    Wednesday, July 25, 2018 3:36 PM