A Deep Dive Into Blockchain Security On Your WordPress Site

Blockchain is the technology that underpins cryptocurrency. But, it is more than that. It is a secure, encrypted, decentralized digital ledger. Records can be stored and accessed on the blockchain, but they can’t be edited or deleted. Smart contracts can be established that automate transactions and processes, enabling the creation of effective decentralized apps.

Such is the security of blockchain that it can potentially be used as a means of helping protect WordPress websites. WordPress itself is considered a secure content management system and website platform, but it is only as secure as the systems behind it, and this is where blockchain technology can assist.

 

Secure Cryptocurrency Payments

The most common use of blockchain technology is in cryptocurrency. Crypto is an alternative to traditional payments and offers greater privacy and security. New crypto coins are launched regularly, with some offering new and innovative payment processes, and others providing access to platforms like Ethereum.

According to web3 writer, Ines S. Tavares, a number of some of the most recent and impending launches are layer-2 networks that incorporate new protocols on top of existing networks. These can enhance security or incorporate additional benefits.

WordPress was initially developed as a content management platform, but thanks to the introduction of a host of top-notch apps, WordPress can now be used to develop membership sites, e-commerce sites, and various other types of websites.

Many of these websites need to take or make payments, and cryptocurrency offers a secure alternative to traditional payment methods. However, it is worth noting that while cryptocurrency’s popularity is increasing, it is still nowhere near mainstream. Many users are worried about the volatility associated with cryptocurrencies, while the additional technological requirements of using brokers and wallets are obstacles to their use.

 

Decentralized Data Storage

Blockchain offers decentralized data storage and can be used to store any data, from client data to product data. When data is transmitted, it is broken into smaller packages, and packages are sent to different network participants. This way, even if data is stolen from a participant, the thief has no idea where the rest of the data is. The more network participants that are involved in this storage, the more secure the solution.

What’s more, before each piece of fragmented data is transmitted, it is encrypted, which means thieves would have to be able to decrypt every individual piece of data before even having a chance of putting it back together. Public and private keys, which are used to verify and confirm crypto payments, are then used to reclaim and restore data packages and recover the data.

Decentralized storage is not only more secure, as it eliminates the perils of having a single point of failure, but it can also offer quicker data access. Every individual node holds only a small amount of data, which means each data packet can be transferred quickly before the server’s processing power puts it back together.

 

Immutable Records

Blockchain records are permanent. They cannot be deleted and, once created, they can’t be changed. The immutability of the records helps enhance blockchain security. It protects against deletion while also adding an extra layer of protection against ransomware and other forms of malicious attacks.

In ransomware attacks, attackers encrypt website or user data to prevent the site owner from being able to access it. They demand payment in order to decrypt the data. Generally, it is impossible or highly implausible that the site owner is able to beat the encryption used.

Because records are immutable, it enables the WordPress site owner to recover data to a specific point. The data records are not deleted and cannot be changed, so if there is a critical failure or loss of data, there is always a backup point, and that point cannot be altered.

This not only helps prevent data loss but it can also be used to protect site owners against ransomware attacks. The site can be restored to a specific point.

 

Smart Contracts

A smart contract is an automated agreement that executes and completes without the need for a central organization or intermediary. The entire process is automated, and the contract can only progress when specific criteria are met.

A very basic example of a smart contract is an exchange of dollars for Bitcoins. Two parties agree on a price, for example, party A will pay $100,000 to buy a single Bitcoin from party B. The contract is set up so that both parties are required to send their payments to the given wallet addresses. When both addresses report that the money or assets have been sent, the contract then forwards those funds to the other party.

The contract is as immutable as blockchain records, which means there is no chance of either party being able to circumvent the agreement.

Payment fraud risks can be minimized, and processes can be sped up because there is no waiting around for third parties to confirm receipt or take other actions. Smart contracts can be much more complicated than this, and they can be implemented into WordPress sites at the server level or user level.

 

Improved User Privacy

Blockchain can offer complete privacy to all users, which not only enables users to keep their details away from prying eyes but also enhances security because it prevents personal data from getting into the wrong hands.

Membership sites, e-commerce sites, gaming sites, and many other types of sites collect data from their users. The sites and their owners use this data to help facilitate efficient services or expedite transactions, but if the information falls into the wrong hands, it can potentially be used unlawfully.

Blockchain data relies on decentralized storage, which means data is broken down, encrypted, and stored on multiple nodes. This decentralization greatly enhances data security, helping to prevent user data from falling into the wrong hands. This can be useful in financial industries, as well as in telemedicine and other emerging industries.

 

Better Data Integrity

Data integrity is crucial to all businesses and websites, especially those sites that accept money and store user data. Blockchain is designed to inherently prevent data corruption or errors thanks to immutable records and decentralized data storage.

What’s more, blockchain acts as a timestamping feature. This enables users to be able to verify the history of data, which further enables users to check the integrity of data.

New records can be added to blockchain, but by checking the date of submission, it is possible to verify that you are accessing the most recent records or the original records, as required.

 

Conclusion

We are only just realizing the full benefits and uses of blockchain technology, driven by its use in cryptocurrency transactions. It is gaining use in industries that require immutable, secure data, such as in healthcare, real estate, and investment. It is even being adopted by banks and financial institutions, which were initially reluctant to touch it due to its technological proximity to cryptocurrency.

And, blockchain is pushing the notion of decentralization and its benefits to modern business, even further, including in its use in the development of secure websites and the protection of website data.

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