In the Internet of Things(IoT) context, security is already a challenge, it’s clear that security needs to be even more looked at. To a certain extent, IoT is going to be like the Wild West and we need to be able to appropriately secure smart devices to be able to transact. It is important to note though that blockchain is also seen as a way to secure the Internet of Things.
IoT is reshaping the way people interact with the modern world. But there’s another trend that’s gaining traction just as quickly: IoT payments. As the name implies, IoT payments are a way for customers and merchants to make transactions with little to no physical interaction. Rather than having to slide a credit card into a point of sale (POS) terminal, the customer can simply use the IoT device to process the transaction. IoT payments are faster and offer a higher level of convenience than traditional payment systems.
But the problem is the number of devices behind IoT network’s firewall. Compare to decades ago where most of us had to only worry about protecting our computers but now we had to worry about protecting our smartphones as well as protecting our car, our home appliances, and many other IoT devices.
Because there are so many devices that can be hacked, that means that hackers can accomplish more.
Each device which is connected to the network increases privacy and security concerns surrounding the Internet of Things. These concerns range from hackers stealing our data and even threatening our lives to how corporations can easily uncover private data we carelessly give them. While the IoT’s progress will not be stopped anytime soon, here are some of the biggest issues of IoT, and how Hdac provide solution for each problem:
Privacy issues
On top of the pure security aspect, there are the privacy and regulatory aspects. All three are connected, especially as quite some new regulations concern the usage of private data and as compliancy is one of the key drivers in the security industry today.
In the eyes of consumers, the Internet of Things is “a thing”, but the data privacy dimension is more related with the Internet of Things in a consumer context and it needs to be taken serious as it’s one of the reasons why there still is hesitance regarding consumer applications in the IoT space, such as wearables or smart home automation and even regarding more hybrid consumer/industry applications, such as smart meters. And of course consumers also deserve secured environments in which their data are well protected.
More effort needs to be made to secure IoT-related data to ensure the privacy of consumers and the functionality of businesses and corporations.
Privacy is one of the biggest challenges facing IoT, so Hdac configures unique Hybrid Blockchain Networks for general and special purpose users. Our platform acts to support micro-transactions with state-of-the-art hardware wallets immune to viruses.
Hdac seamlessly link Public and Private Blockchains.
Hdac makes it possible to interpret a node as any device connecting to the blockchain network. If a Public Blockchain is open then a Private Blockchain requires an invitation. As a result, the “permissioned” nature of the latter means it’s unlikely to be accessed by nodes as freely as the former. To bridge both blockchain, Hdac creates a Cue Bridge Node, an intermediary which contains key configuration information in order to link the two.
From private to public and back again, Hdac Hybrid Blockchain is configured as a hidden network with safe tunnelling between a user and device to combat hacks, privacy invasions and external attacks.
Security problem
Security experts have warned that the Internet of Things is a cybersecurity nightmare and it’s only a matter of time before a large scale attack is unleashed, using IoT vulnerabilities.
Over 50 percent of IoT device manufacturers will not be able to address threats from weak authentication practices.
Hdac has an enchanced device security. By implementing specific authentication scheme to apply a Quantum Random Number (beginning with our identifiable characters “Hdac”) and eliminate the possibility of hacking.
While Blockchain-based platforms have already been verified with high security. The private key, public key, and wallet address used in blockchain based transactions are created using a pseudo random number. In recent cases, a pseudo random number security vulnerability has been found by analyzing the patterns of pseudo random numbers and creating values for specific purposes. Hdac proposes a method to replace random number generation with quantum random numbers for a private blockchain.
