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Blockchain technology is growing rapidly and it is being used in various sectors like food, medical, cryptocurrency, data transfer, and more. As you might know, blockchain is the best technology out there to record transactions made on a network, thus there is a wide range of use of blockchain technology.
But no matter how secure this technology is there are several loopholes that make the whole operation worthless. One of these challenges is end-to-end security which can be fortified using a biometric security system.
In this article, we will be discussing all biometric systems and how they can help us secure blockchain technology.
What is Biometric and How It Boosts Security
Biometrics are biological distinctive features found in every living organism. Biometric devices observe and measure these biometric features in a living being and execute commands that are preset into them.
This type of technology is heavily used in the security business where the main motive is to identify the owner and restrict all others. Now there are three types of biometric security:
- Biological biometrics
- Morphological biometrics
- Behavioral biometrics
Biological biometrics identifies traits at a genetic level. The devices that utilize biological biometrics are extremely accurate. These devices can even differentiate between twins instantly. These devices may use your DNA or other samples from your body to identify you.
Morphological biometrics uses your body traits to identify you. This type of identification is very cost-friendly thus used everywhere in the world. This type of biometric system uses structure reading of your unique body parts like eyes, fingerprints, and the shape of your face. This also gave birth to facial recognition systems.
Behavioral biometrics is based on analyzing behavioral patterns that are unique to each human or any other living being. This system analyses the way you walk, talk, or even dress to identify you and open the security passage.
The Need for Biometrics in Blockchain Technology
Blockchain technology is revolutionary when it comes to its features that let participants enter and save information like no other existing systems can do. They also serialize the data in such an efficient way that modern databases are put to shame. This amazing feature of blockchains has attracted the eyes of not only the crypto world but also other industries. Such as food, logistics, medical, and more.
But the biggest challenge that these industries will face if they try to introduce blockchain technology is the lack of privacy. For example, if in a private blockchain network any hacker can easily get access to your computer and access your data. If you do not have an advanced biometric system defending your private information you will be hacked very easily.
The best way to introduce biometric locks for blockchain is to use peer-to-peer locks. If you save the data of the individual who is supposed to receive the information on the other end you will be able to safely send data. This data then will be received on the other end of the network through a computer that can only be accessed by that individual whose data is stored in the biometric device.
The key benefits of using biometrics in blockchain for the industry would be:
- It will help you easily pin down the responsible person by going through the access granted in each step.
- It will also help you make the management more transparent inside the company.
- You will be able to control the transaction of information among the staff.
- The data you transfer using the biometric installed blockchain will be in much safer hands.
Blockchain technology has a lot of potential that existing technology does not possess. It is truly the technology of the future. But for it to become fit for use in our everyday lives it needs more security.
More specifically peer to peer security so that no one other than the intended person gets their hand on the data transferred using the blockchain network.
To tackle that we should utilize biometric security in blockchains. Using this even cryptocurrencies that run on blockchain like bitcoins will be in safer hands. If you are looking for a safe way to trade bitcoins then check out cryptoengine.app.