ADSactly on ADSACTLY - Can Blockchain Systems Provide Both Security and Privacy?

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ADSactly on ADSACTLY - Part #52

ADSactly - Can Blockchain Systems Provide Both Security and Privacy?

Some people see Blockchain technology as a threat to the currently wide-spread database systems. Like Facebook. Or Google. Or an alike corporation that tirelessly gathers everything there is to gather about you and your affinities so they can sell the information to people who will use it to manipulate your opinions and actions way easier. As it was said a numerous times before, in the technology age, information is the most dangerous weapon.


Other people believe that decentralized blockchain systems give a new hope to the original idea of the Internet. The grand idea of uniting the world without censorship or government surveillance of common, ordinary, law-abiding people. Where lies the truth? It is quite likely somewhere in the middle. Who wants to have his personal data sold to third parties for someone else to make a fatty profit? On the other hand who wants to let every criminal and potential terrorist whatever they please?


The ones more concerned with their security than privacy tend to point out that blockchain technology still doesn't have all the answers and that we need to wait for another 5 to 10 years for all of the right pieces to come in the right places. They argue that we cannot abruptly throw away old systems before the new ones are not tested and verified. Also, we all know how many ICO's promote worthless coins serving only to financially help the team behind them. This misuse is a downside of the system, a shame of the crypto movement. But, do you throw away a baby together with the dirty water?


The other side argues that everything should be "block chained" as soon as possible, for this is the right path toward the decentralized future, refuting the counter-thesis and firmly believing that the time to join the "crypto revolution" was yesterday. The only thing, we can point out with certainty, is that we are living in a dawn of the new age of technology and it is really thrilling to witness all of the new developments and all of the vast efforts put in a never-ending search for the new and better solutions. Finding the answers to the unknown, finding a valid solution to a problem is what this is all about.

If we are aware that we are finding solutions to the problems that didn't even exist yesterday, we must admit that the whole journey is more about the path, not so much about the destination. Not before we've reached it.


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with regard to security it can be penetrate using quantum computers in the future and with regard to privacy it's not gonna be easy, since blockchain is a decentralized the goal should be a trustless society and transparency to make the world a better place.

Blockchain technology will not be the holy grail of cybersecurity, but it is a powerful tool which can help to harden systems. Blockchain plays its strengths very well; if the system which it is disrupting is a centralized system with a single point of failure. If higher transaction speeds are possible, blockchain is a technology with use cases ranging from smart grids over the Internet of Things to a globally deployed and used currency system and smart contracts by dot magazine.

All the reasons you gave about blockchain are all perfect. Thanks @latikasha for sharing.

technology blockchain is gaining increasing popularity. Many people talk about it as a "savior" in an endless information war. Other people see this as a threat to the established digital centralized world. But is it really so? Partly yes, and partly not.
I agree that the block chain is at the initial stage of development. It is a young but promising technology that will somehow change our familiar digital life. Yes, the big plus of it is that there is no censorship here and everyone can express their opinion. Individual countries can not total control resources that are based on the blockchain.
But it is possible to distinguish from minuses that the blockchain can be used by "bad" people for their own mercenary purposes. Manipulation is also possible in this case. Information in our time can be more dangerous than a weapon. Especially if the information is manipulated by evil people.
I like the fact that the blockchain represents resistance to censorship. There is no censorship useful or not useful.
Similarly, the advantage of the blockchain in the appearance of new types of organizations. Such organizations can use the block chain as a means of exchanging funds, and they can enter their rules into the blockchain. For example, with the help of The DAO, people could collect money together and collectively decide on what to spend.
I see more pluses than minuses. But I also agree with the fact that it takes time that the block chain should solve all the problems at the moment.

Well, block chain can't solve all the problems together at once if people are still kicking against it

Although blockchain can solve many of the problems, it's still not perfect. There are many loopholes in the system but they can be fixed with time.

M a big fan lf your writing sir 😍

In fact this will be the most safest thing in the human history nobody will know what you actually own since everything will be digital, the only threat is from cyber criminal but there is always a way out

We are all responsible for the information we share on any platform.Unlike facebook and google using our information to fatten their wallet with nothing going to its users,Blockchain tech platforms like steemit is the only one in my opinion with a working model on how to give its users authorship rewards .

It doesn’t ensure privacy as such, it does close to the opposite by design.

Blockchain creates a public record (distributed shared ledger) with state changes signed by private keys.

Anyone with access to the chain can then determine if a change was signed by a private key with the right to do so. The integrity of the blockchain is protected by proof-of-work or proof-of-stake.

Where this can promote privacy is that if the knowledge of who owns / controls a private key is secret - you can’t know who in the real world is behind it and any value associated with that key unless someone chooses to reveal their public key.

Implementations such as Bitcoin are also completely decentralised and autonomous so there is no person or organisation with any kind of privileged access. By consensus the community can role out breaking changes and even alter the chain - as Ethereum did following the DAO attack (to return $64m of value that was stolen through a software fault) though.

oh u are a greater writer i hope i can get great ideas from you
thank for sharing this post

good job you have done

The way you write is so astounding sir. I would definitely join your discord chat.

P:S: your series just educated me alot. Whepwww, it's amazing how I get this info free while others pay. Thanks once again

Sir you are good writer.And your post filled with information. I like this kind of information very much. Thank you sharing the post.

always follow you @Adscatly
keep up the good work

Awesome post! You've got a new follower.

I would add that whenever revolution/innovation is happening, we have critics and hard time. The problem is that if the people who believe in those new ideas don't start producing and spreading their belief, it will always be just an idea.

Your posts are so informative as I am still learning about this

nice post dear

Your posts are so informative as I am still learning about this. good job you have done

awesome post... blockchain is the future solution of security.

yeah Its great and awesome everything is open and there are no hidden things on it but still, it happens with me that one of my friends just refund my 3 SBD but it shows me on my wallet as a notification but not gonna add in my earning this is the only thing that gonna happen with me although its good and secure

Blockchain will solve the problem of cyber security and privacy issues with time. Right now they may be many loopholes in the system since it's just new. Great post though!

Very educating and entertaining.

IT is creating for development and innovation

most important post ever

Nice,very good

it is true that now many scams with different modes to get results

One thing I know, the block chain system is a blessing.

Privacy isn't fully guaranteed and neither security.
Like you said, it's more about the path.

The journey is more important than the destination.

That's why there is need fit reviews and feedback. And make slight modifications that birth improvements.

Not necessarily a drastic change, just note a problem and improve on it one at a time.

Presently, the block chain is facing a whole lot of opposition and even some countries don't allow it

I've been following @stan for sometime about his crusade for defence of the block chain and it's users.

A system can never crumble from the outside, it can only be opposed and attacked from the outside. If the internal organisation is so knitted together and of a single goal, then it can only be fortified.

I believe in the block chain, I believe in kts future. I don't know how soon it will arrive, but am. Excited to be a part of it

There is an everyday bomb appearing on the Steemit trending page. It is called Shit Posting Bomb, just like this one.