Cisco has done some work on its own enterprise blockchain tools, the networking firm is also using blockchain internally.
Cisco’s StealthWatch Cloud will be embedded in the enterprise blockchain platform offered by Lambda 256.
The StealthWatch solution uses machine learning and behavioral modeling to respond to cybersecurity threats.
South Korea’s Lambda 256 has partnered with Cisco for the security of its Blockchain as a Service (BaaS) platform, Luniverse. Cisco’s StealthWatch Cloud will be embedded in the enterprise blockchain platform offered by Lambda 256. The StealthWatch solution uses machine learning and behavioral modeling to respond to cybersecurity threats. Luniverse supports Hyperledger Fabric in its BaaS hosting offering. Even though this offering is enterprise focused, the company’s heritage is in the cryptocurrency sector.
Lambda 256 is part of Dunamu, which operates the Upbit crypto exchange and also a venture investment fund with ten blockchain investments. While Cisco has done some work on its own enterprise blockchain tools, the networking firm is also using blockchain internally. Four months ago, it partnered with NEC to use blockchain to ensure the authenticity of its networking equipment and make sure software is not tampered with. Cisco is also a participant in the Trust Your Supplier offering from Chainyard to manager supplier qualifications. Other members include IBM, Lenovo and Nokia.
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While most technologies aim to improve enterprise and societal problems, blockchain technology could stand out given its transparency and security while remaining decentralized and inclusive.
Much has been written about blockchain’s potential as well as its unfulfilled promises. While blockchain is distributed and secure, verifying transactions through the network can be slow. As observers have indicated, blockchain could change industries, from finance to healthcare. From its origins as an airtight validation mechanism for bitcoin, a digital currency, enterprise blockchain technology has made its way into a range of industries, as it secures any valued digital asset.
It does so by recording digital asset transactions—payments, medical records, votes, and potentially many other things. Blockchain is seen as immutable and secure because the permanent, append-only ledger is distributed among blocks across many physical storage nodes. Code can be embedded in the blockchain to customize its security and behavior even further.
The result is a network of nodes that can locate relevant data – but that is protected from malicious hackers, because the hack would have to solve every hash solution in the chain–and the hash solutions are all spontaneous.
It's easy to see how the complexity of the security rules outlined above, computationally intensive as they are, would make a blockchain as slow as molasses–and most are. Early blockchains could manage only one or two transactions per second, and even today, five to seven transactions per second is considered blindingly fast. That's a deal breaker in many scenarios. Conceptually, a blockchain is a decentralized, distributed network. In practice, however, since every node in the network is aware of every transaction, a consensus protocol is required–and that forces a tradeoff between decentralization and low transaction throughput.
The methodologies emerging for scenario-specific blockchain implementation inevitably add a layer of complexity to an already complex undertaking. This complexity is the cost of doing business for a technology that swings for the fences quite assertively in an Internet-driven world, rife with security threats and infrastructural compromise. But any enterprise capable of wrestling with the intricate elegance of blockchain in the first place should be up to that task, and should reap game-changing rewards.
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