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Jan 2018 - IDC Perspective - Doc # AP43518518

Securing the Blockchain

Authors: Jeff Yong Xun Xie, Simon Piff

Abstract

The rise of distributed ledger technology (DLT), blockchain, and cryptocurrencies have disrupted the world of technology in recent months, if not years. With data transparency and integrity as its most prominent advantages, blockchain is here to stay and it's only getting bigger. In this report, we discuss the threats of cryptocurrencies and the underlying technology, blockchain, and how to secure them.

"The nature of a distributed ledger provides a reasonably secure environment, but the security of the entire network architecture still affects overall resiliency," says Jeff Xie, senior security analyst at IDC. "The skyrocketing prices of cryptocurrencies make attacking blockchains and cryptocurrency wallets a lucrative heist."

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