Blockchain, Artificial Intelligence, Machine Learning, Robotics, Cyber Security & Cloud are the hot topics of today's Digital World, so just wanted to explore more about these topics.
Blockchain is more familiar to all as everyone knows about cryptocurrentcies like BitCoin, Ethereum, Ripple, BitCash etc. I believe some of you might have made good profit from these cryptocurrencies as well. These cryptocurrencies are based on Blockchain Technology.
Blockchain (chain of blocks):
Blockchain refers to the growing list of nodes/blocks which are inter connected with each other through cryptography. In blockchain technology, data will be distributed across various blocks and will be stored in the form of hashes. If one block/node is compromised, the information from that block/node cannot be used alone. Idea behind blockchain was to decentralize the information. There's no concept of parent-child or master-slave in Blockchain, every block/node is treated/used as master or parent. Blockchain helps in managing the digital identities by storing them on distributed network and it can also be used to secure the personal information’s of end users.
Suppose my password is of 12 characters and I store each character at a different place. Even if someone finds my 1 character, he cannot login into the account. He must find all the 12 characters to login into my account, but these 12 characters are stored at 12 different location so probability to find all the 12 characters from 12 different location is very less as compare to finding all the characters at 1 place.
Don't worry, I don't keep my password like this. 😊
I have read various posts on using Blockchain Identity and Access Management but couldn’t find the answer of the question “Should we move to Blockchain based Identity and Access Management?” I know that data will be more secure in Blockchain based IAM but there are other challenges also exist like Identity Theft, Key Management etc but let's see what are the solutions to overcome these challenges or if we can find something better than existing solutions.