Following high-profile blockchain hacks in the last year, many people have been left wondering: is the blockchain hackable? The short answer is that any system can be attacked. However, because blockchain is decentralized, hackers may find it more difficult to target. Blockchain technology and it’s working: Blockchain technology, also known as a distributed ledger, is primarily an intrinsic digital record of transactions kept across multiple computers in a network, typically the internet. Each block in the blockchain contains information such as timestamps and data, which are secured by an algorithm, making it nearly impossible to tamper with or hack the blockchain. Furthermore, blockchain employs cryptography to prevent users from manipulating stored data without access to the blockchain’s associated keys or passwords. Is blockchain secure?
Blockchain is not immune to attack; in the past, hackers have successfully targeted blockchain systems. Some of the most successful blockchain hacks have involved exploiting flaws in blockchain implementations, such as smart contract vulnerabilities or human error in the verification process.
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