The security company Altr is looking to improve the world of corporate data security using blockchain technology.
Altr has been in business since 2014 and has recently received funding of $15 million from private investors, large financial institutions, and IT firms around the United States. The company can now begin working on their new technology which implements blockchain as a security measure.
Blockchain technology at its core is an append-only ever changing ledger. The ledger requires certain information in each block before that entry can be added to the chain. Because of the authentication required, blockchain is considered a revolutionary leap in computing and will disrupt many industries in the coming years.
The company is implementing their own version of blockchain aptly named Altrchain. This technology is still using the core functionality of blockchain but with an optimized approach for data security. The main application of blockchain is cryptocurrency mining. While cryptocurrency mining does have some built in security measures that come with the use of blockchain, the platform is not powerful enough for use in the corporate world. There are too many transactions that take place in a given timeline for the crypto version of blockchain to work. This is where Altrchain comes into play. They are hoping that Altrchain can improve upon current security standards by implementing real-time security monitoring which in the past has been based on known vulnerabilities and after-the-fact patches.
Altr will have three applications that use Altrchain as the core technology. Altr Monitor (for monitoring events in the blockchain), Altr Govern (for adding or removing entries), and Altr Protect (for storage of information across the decentralized network).
Businesses will not have to buy new hardware or overhaul their databases to work with Altrchain’s software. Altr is providing support for major database software like Microsoft’s Access and Oracle’s database suite.
Link to original article:
https://venturebeat.com/2018/06/07/altr-raises-15-million-to-use-blockchain-for-cybersecurity/
For more information about blockchain follow these links:
https://blockgeeks.com/guides/what-is-blockchain-technology/
https://hbr.org/2017/01/the-truth-about-blockchain
