Security is one of the top priorities of our time, especially when it comes to online security or cybersecurity — a significant issue for all companies and governments in the world. And in which Blockchain technology occupies a prominent place, as a means to protect information thanks to cryptographic technology. However, it can fail, as is the case with the attack against Vertcoin.
The importance of Blockchain technology
The modern world has brought us incredible advances in the communications sector. Allowing instant contact of people in different places of the planet in a matter of seconds. Opening the doors to exchange between different cultures and societies immediately.
This has brought important economic and technological advantages. Allowing trade and scientific research to become a much simpler task than before, but bringing with it important dangers in this new digital scenario.
Well, as it can be used for charitable reasons, the Internet also opens the door to a new type of crime. We refer to cybercriminals, men and women who spend their time trying to break the security of others' systems. To try to extract information, destroy it or even steal money digitally.
This presents a new landscape for the protection of the information of organizations and individuals. And it is in this plane, in which the Blockchain technology can mean an important contribution. Protecting information using cryptographic technology, by storing it in blockchains difficult to hack.
The attack on Vertcoin
However, difficult does not mean impossible, as the Vertcoin cryptocurrency is choking. Which is currently under attack against its blockchain, in what would be the second hacking suffered by the crypto active so far in 2019.
In this attack, 663 of the chain's blocks would have been replaced by 553 written by the attacker. Generating five “double expenses” worth 125 Vertcoin or the equivalent of 29 dollars. Unknown until now, who were the rightful owners of the money before the attack.
And, Blockchain technology, although it offers much stronger security than any other system, is not infallible. Well, if a person manages to gather the equivalent of 51% of the computing power of the network and direct it against it, they can manipulate it in their favor.
Which represents a call not to fall asleep on laurels when it comes to Blockchain technology. Since, just as Vertcoin has suffered two attacks so far in 2019, almost any cryptocurrency could suffer it.
