Category: Blockchain Page 3 of 4

The Risks of Login Codes Sent via Text Message

On April 19, 2021

In Blockchain, Chika Wonah, Digital, Internet of Things, Technology, Uncategorized

Two-factor authentication can seem very useful for securing your essential accounts from intruders. However, more and more hackers have been getting into accounts that use text messages for two-factor authentication. Look into these reasons why you should switch over the type of two-factor authentication you operate away from text messaging.

Routing Messages

When you’re holding your phone close to you, you might be thinking that an intruder will have to get into your phone by getting you to install malware. For the past couple of years, though, intruders have been more clever into how they get into mobile phones. They can do this by going directly to your mobile phone carrier.

The way they do this is by first finding some personal details about you. These can be as complicated as your social security number or as simple as the address you live on. From there, they call up your phone carrier.

Depending on the phone carrier, they can be easily convinced that you’re locked out of your mobile device, and you need your number transferred to a separate phone. Intruders can accomplish this by giving up their details and paying a small fee. If it goes successfully, an intruder will have full access to any phone calls or text messages coming your way, with no way to stop them until you’re able to call your phone carrier again. This all is why you shouldn’t ever use text messaging for your two-factor authentication.

Notifications

Sometimes, an intruder might not even be far away to the point where they can be looking at your phone screen in public. Depending on your mobile device settings, you might have notifications popping up with security codes on any screen of your device. Intruders can come up with a plan to get a security code this way.

For example, you might be live-streaming a game on your phone to the internet. Intruders will use this to their advantage by logging into your account online and checking your stream for when the phone notification appears. After that, they can log in to your account and do enough damage before you even have the chance to change the passwords on your accounts. Notifications are just another reason why you shouldn’t be using text messaging linked to your two-factor authentication.

2021 Cyber Security Predictions

By Chika Wonah

On February 15, 2021

In Blockchain, Chika Wonah, Digital, Internet of Things, Technology, Uncategorized

Many corporations have prioritized cyber-security amid the COVID-19 pandemic. PwC’s recent report shows that 96% of managers have changed their cyber-security techniques, and 40% of them claim that their digitization efforts have increased. Correspondingly, IDC anticipates that global security expenditure will increase by a compound annual growth rate (CAGR) of 8.1% during the 2020-2024 prediction period, reaching $174.7 billion in 2024. Similarly, Forrester’s 2021 cyber-security forecasts indicate that funding for cyber-security companies whose headquarters are outside the United States will rise by 20% in 2021. Analysis Mason also predicts that between 2019 and 2025, mobile device security will be the fastest-growing cyber-security category and will reach $13 billion with a CAGR of 17%.

In 2020, breaches became a challenging problem that was difficult to stop. For example, the U.S Depart of Health and Human Services (HHS) Breach Portal shows that in 2020, 436 breaches attacked healthcare organizations, affecting 17.3 million.

Here is a list of predictions that apprehend how cyber-security will advance in 2021:

1. In 2021, 55% of businesses will increase their cyber-security budget allocations, and 51% will hire more full-time cyber staff.

2. In The Next Three Years, the most dominant cyber-security technologies will be the Cloud Workload Protection Platform, Passwordless Authentication, and Posture Management. As Gartner’s Impact Radar for Security framework indicates, the Zero Trust Networking will have a significant impact within a period of one to three years.

3. Security services will be the fastest and largest growing security market sector, occupying half of the security budget meant for the 2020-2024 prediction period. The segment will also attain a CAGR of 10.5% in five years.

By 2021, cyber-security IT spending will reach a CAGR of 12% due to the drastic increase in cybercrimes, such as breaches, endpoint security attacks, phishing, and privilege access credential abuse.

Intellectual Property will be cyber criminals’ target in 2021.
The global cyber-security expenditure for small and medium-sized businesses will increase by 10% CAGR between 2019 and 2024, making this segment an $80 billion industry in four years.

4. Business cybersecurity spending will grow at a higher rate in four major industries- healthcare services and systems, financial and banking, technology and media, and social and public segments.

5. Improvements in AI and machine learning will contribute to 80% of devices’ capability to self-secure-and-heal, enabling IT to implement policies and remain confident that their data and devices are safe.

Many companies will struggle to reduce their vulnerability to cyber-attacks in 2021 and beyond.
Over the next five years, cyber-crime costs will increase at an annual rate of 15%, reaching $10.5 trillion per year by 2025.
Security vendors will continue to consolidate endpoint security in 2021.

In 2021, cybercriminals will devise new and innovative ways to attack personal devices to access corporate networks. While the COVID-19 pandemic has forced workers to work remotely, many organizations have not fully protected their employees. As a result, cyber attackers will exploit these gaps, leading to increased cybercrimes.

Understanding if Your Device Has Been Hacked

By Chika Wonah

On February 15, 2021

In Blockchain, Chika Wonah, Digital, Internet of Things, Technology, Uncategorized

From social sites to banking, smart devices are increasingly becoming part of most people’s daily lives. Unfortunately, they are also exposing them to data snatchers, popularly known as hackers. The hackers may gain access to a device in many ways, but we will discuss how to know when that happens.

Receiving Random Pop-ups

Random pop-ups are not annoying, but they are among the most popular signs that a device got hacked. If one is getting random pop-ups from their browser, something has compromised their device with adware. Adware is popular with hackers when trying to force someone to view certain websites to drive revenues through viewership.

Draining Battery without Any Reason

If one notices that a device battery is quickly losing power for no reason, that is a sign that it has malware. This sudden loss of battery power is due to malware or spy-app that is operating from the background. The spy-app uses a lot of battery power to scan the device and transmit it to the hacker.

Poor Performance

One may notice that their device is suddenly crashing all the time or loading web pages much slower. When such happens, first try shutting down the machine, and take notice of what happens. If the device has gotten hacked, it may fail to shut down correctly or not shut down at all.

One can also notice slowed functionality of some operations, such as making calls or receiving text messages. Such things shouldn’t take long unless the device has a spy-app.

Increased Data Usage

Another indication of a compromised device is the exceptionally high data usage. The usage may be a result of a background running app communicating to a third-party.

Contact List Gets Call and Tests That the Owner Didn’t Make

When a device gets hacked, the hacker leaves the malware in the gadget and may use the contact list to spread it. One’s email list, text messages, or instant messages may transmit the malware to his contact through messages with links or attached files. Check out for complaints from the contact list about notifications that they supposedly received.

The Device’s Settings Change

If the hacker physically accesses a device, they may manually change its settings. For instance, one may notice that their device Bluetooth is on, despite them not switching it on. Such settings change maybe a sign of malware interfering with the device settings to spread it to other devices.

There are many ways to know when a device has gotten hacked. To prevent losing data or money, always take preventive measures. For example, one can run a malware scanner on their device.

Cybersecurity and Space Are Becoming a Key Battleground in 2021

By Chika Wonah

On January 14, 2021

In Blockchain, Chika Wonah, Digital, Internet of Things, Technology

Outer space is more critical to the global communication system than one would think. Communications, defense, transport, and more rely on it to send their signals. The world doesn’t realize how critical space cybersecurity is to modern life.

The following industries are vulnerable:

air travel
communications
defense
finance
trade

Satellites are very vulnerable to attack by bad actors. Cyberwarfare is becoming a bigger threat. Many countries are expanding their military to compete in this space.

What are the Vulnerabilities in Space Cybersecurity?

DDOS – Distributed Denial of Service

Sending massive amounts of data can overwhelm the receiving device. Many times the device will shut down or stop receiving communications. Other times it can overheat.

Losing a connection during a disaster or conflict would be extremely dangerous. It would disrupt first-responders or ground force’s communications.

Malware

Malicious code can exploit weak points in outdated software. Sometimes malware quietly eavesdrops on private communications. Other times malware causes deliberate damage.

Signal Spoofing

Signals are susceptible to interception and distortion. False communications can pose as a legitimate order.

Spoofing can hide locations of key assets too. One side would have accurate coordinates, while the other would not. Massive amounts of defense systems rely on accurate location coordinates.

Why Do Vulnerabilities Exist in Space?

Many of these satellites have been around for decades. They were not designed with modern cybersecurity in mind. Security was simply not considered.

Many of the solutions have been band-aid solutions. The design of older software and hardware focuses on ease of use. Every device and software will have vulnerabilities. This is more true the older and more out of date something is.

What Policies Can Solve These Issues?

Officials need to create a comprehensive plan to protect critical infrastructure. More nations and organizations are developing capabilities to cause damage.

Routine threat assessments will allow decision-makers to manage risk wisely. This will streamline establishing industry guidelines.

Allied-nations will have to work together to apply these standards. Data flows between many countries at any time. If one nation is lax in its protocols, it can compromise many other nations.

It is critical to pay attention to cybersecurity in space. More of the world’s economy and defense systems will rely on secure communications. The world must work together to mitigate its risk. Otherwise, it will be at the mercy of hostile nation-states and well-organized groups.

3D Printing and Design: Digital to Physical

By Chika Wonah

On April 30, 2019

In Blockchain, Chika Wonah, Digital, Internet of Things, Technology

3D printing is a growing technology that has already been used in a variety of industries from healthcare to construction. It involves designing a digital representation of an object, which is sent to a 3D printing machine. The result is a physical object that meets the specifications of the digital representation.
It’s essential to understand the process by which a 3D printer operates. It creates each object by building up layers, which means you have to have an underlying surface for it to build upon. Due to the angle at which the printer builds the object, it’s wise to limit any overhang on the surface material. The bottom layer of the object will have a rougher surface, which can affect the overhang.
Additionally, you will have to be conscious of the limitations of the printer. While you are unlimited in designing the digital representation of the object, there are restrictions to what can be printed. You will run into problems in attempting to print a layer that’s too thin, so try to make sure you have a thickness of at least 0.8 millimeters. This can help you avoid structural issues in printing your object.
When you print an object, the printer doesn’t create the object out of thin air. It uses material, which is superheated and melted, so that it can be scanned with a laser. Once the layer is formed, the printer cools the material until it hardens. Depending on the settings of your printer, and the project you are undertaking, this process can cause the material to warp. This is more common when printing large flat surfaces, though warping can be eliminated with the correct settings. As long as you have good surface adhesion between the print bed and your object, you should be able to print without the material warping.
Finally, the quality of your printer will determine how detailed you can get in designing your object. Each printer has a minimum feature size, and going beyond that capability may compromise the quality of the print job. It’s also wise to consider layer height in choosing the details of your object. These factors can help you create the ideal piece, but they also restrict what you can do with your printer. Additionally, keep in mind that more detailed objects will take longer to print, and will cost more to create.

The Technology Behind 3D Metal Printing

By Chika Wonah

On October 29, 2018

In Blockchain, Chika Wonah, Digital, Internet of Things, Technology

Metal fabrication has been known to be an expensive undertaking as it uses a massive amount of energy and there is a large amount of waste that is left. Besides using much energy and leaving a considerable residue, the metal products made are 60% heavier than the actual products. This makes the products not to be useful in several industries, especially the aviation sector. This explains why the 3D metal printing came into existence.

However, recent innovations show that metal fabrication can be replaced with 3D metal printing technology. The accuracy of this technology makes it the most preferred method of making different metal objects. Less material and energy is used as compared to metal fabrication. The objects made are within an accuracy range of plus or minus one, which is acceptable across the industry. There is less waste in this technology that manufacturers can easily consider.

Few companies around the world have already started working in 3D metal printing technology. There is a movement from the traditional 3D plastic printers to a new model of printers that can print metal objects. Binder jetting is one of the most preferred 3D metal printers in the industry that many manufacturers are considering. Binder jetting is highly preferred as the leading 3D metal printer because it is material efficient when compared to other metal printing techniques.

The building chamber within the binder jet has to be filled with argon or another inert gas so that it can minimize the oxidation of the molten metal. The molten metal is spread quickly and efficiently with a thickness of about 50 microns, which depends on the properties of the metal and the object required. Additionally, the shape and size of the object under consideration must be considered when printing an object. This process makes a single layer, and it has to be repeated several times until the object is completed.

Although 3D metal printing is an expensive undertaking, there are new technologies that are currently being incorporated by manufacturing companies with the sole purpose of making the whole technology less costly. The innovation remains very expensive to consumers, but it is still useful to large-scale consumers such as manufacturing entities. 3D printing is essential, especially when prototyping process. However, enhancing accuracy and minimizing cost will bring this technology to other consumers in the industry.

How Bitcoin Can Impact the World

By Chika Wonah

On October 1, 2018

In Blockchain, Chika Wonah, Digital, Internet of Things, Technology

The Bitcoin technology has the potential to revolutionize the way people manage and utilize money. It is known by its nature to fluctuate over time. If used well it can have a great impact on the current financial structure. One can earn money from Bitcoin by working in office, trading and exchanging other currencies. One can also earn by mining Bitcoins. Mining of Bitcoins happens in the virtual world. When you have Bitcoins, you can use it to buy and sell goods and exchange it with other currencies.

How Bitcoin Work

To deal with Bitcoins, you need to create a Bitcoin wallet. You can create this with some of the best Bitcoin payment service providers such as Bitpay and CoinBase. Quintal is offering this services for free. You can pay low fees and let these providers execute orders for you. Bitcoin wallets also provide storage services for wallet owners. One can store money in the form of Bitcoins in this accounts and use it for any transactions as long as the counterparty accepts Bitcoins too.

The speculative nature

The Bitcoin is valued speculatively. The primary currency can be used for selling or buying goods. They are not accepted yet for use in the world. There are fears that it has been used for illegal purposes such as gambling and drugs. For a person buying goods using Bitcoins, it can be a cheaper option when compared to the dollar. In 2013 for instance, it was traded above $1000. It has always been fluctuating ever since. It has however received an exponential growth in the present-day economy. Its current value is associated with a bubble burst. The Bitcoin improved in 2017 due to its popularity and advancement in technology. This shows a long-term potential for cryptocurrency adoption.

Tech giants investing in Bitcoins

The largest investment in Bitcoin started being witnessed in 2017. It raised the foundation for a better economy. It also increased opportunities in sectors such as mobile app development, financial sector, cybersecurity, and many others. Larger companies have taken a step to invest in Bitcoin. Tech companies such as Dell, Overstock, Expedia, Dish, and Microsoft now allows their customers to make payments with Bitcoins. The total number of merchants who accept Bitcoins has increased from 36,000 to 82,000. It is now possible to buy anything using the Bitcoins.

The total number of Bitcoin ATM around the world has increased to 340. The total amount of venture capital investment increased to $335billion from $98million. This has created a potential for future growth in this currency. Bitcoin also provides a technological platform that is fast and safe. It has therefore changed the ecosystem around the world’s financial economy. It is expected that its use and adoption will keep increasing with time.

2018 Breakthrough Technologies

By Chika Wonah

On August 22, 2018

In Blockchain, Chika Wonah, Digital, Internet of Things, Technology, Uncategorized

With so many exciting new technological developments coming down the pipeline, 2018 sure is an exciting time to be alive. Computers and programming especially have been enjoying a rapid-fire pace of progress. Breakthroughs in all facets of the science and research communities have led to the following promising technologies.

Earbuds That Translate for You
If you’ve ever visited another country and felt panicked by the fact that you couldn’t understand the language, have no fear. Pixel Buds, which will be available at the very reasonable price of $159, will allow people to communicate with others who don’t speak their native tongue.

3D Printed Metal
For anyone who’s ever lamented the fact that their car’s parts need to be sent from overseas before being replaced, 3D printed metal promises to be a game-changer. Now, mechanics will—in theory—be able to print out the parts that your vehicle so desperately needs, saving both time and money.

Polygenic Risk Scores According to DNA
Sooner rather than later, parents of newborn babies will find themselves saddled with a report card almost immediately after their child’s birth! However, this report card will be based on the baby’s DNA stats, alerting parents to possible problems down the line. If a child is more prone to getting hooked on smoking, for instance, their parents will know about it ahead of time.

Smart Cities
Although some cities, such as Dubai, have been praised for their tech savvy skills, many are still running on old models. Quayside, a new Canadian project that is based in Toronto, may change all of that. And drivers won’t be able to enter this city; in fact, the only cars you’ll see will be autonomous ride shares! Open-source software will be powering this smart city, which means that other urban planners will be able to benefit from all of the knowledge gleaned from this dazzling experiment. With underground robots running mail underneath the city’s sidewalks, this is truly going to be a futuristic feast.

Universal AI
These days, it can be difficult to get your hands on some AI—unless you’re a big name company with deep pockets. But with a recent push to change that, businesses are now seeing the possible boon of allowing consumers to use AI to power their lives.

Bitcoin Breakdown

By Chika Wonah

On August 22, 2018

In Blockchain, Chika Wonah, Digital, Internet of Things, Technology

The recent explosion of cryptocurrencies on the market as of late has left many people scratching their heads and saying, “Just what exactly is Bitcoin?” Though a full description of Bitcoin would take a lot more than a single blog post, here’s a short-but-sweet breakdown of the headlines’ crypto darling.

Bitcoin’s Anonymous Founder

Developed in 2008 by a still-anonymous person named Satoshi Nakamoto, Bitcoin was first developed as a software solution to electronic transfers in a burgeoning internet landscape. It Offered quick and efficient money services unmatched by current systems at the time. Bitcoin claimed it would revolutionize the financial industry and since then it has come pretty close.

Understanding the Blockchain

Every transaction made using Bitcoin is transparent and recorded on a universal ledger called the blockchain, and is updated every ten minutes. As the name implies, the transactions in those ten minutes form a “block” that is stacked on past blocks, forming a “chain” that is viewable by anyone. It, in turn, creates a checks and balances system making it a more secure and transparent option.

Transferring Bitcoin

Your bitcoins are stored in a virtual wallet that is accessible by using a private key that is known only by the primary user – which makes keeping that key safe a top priority. If you want to buy something or transfer bitcoins to someone else, you can send them to a specific wallet address, much like you would send an email. The transaction can take up to a few hours to process, but you can pay more bitcoin if you would like it to move faster.

Obtaining More Bitcoins

The most straightforward way to gain bitcoin currency is by buying it on an open trading platform like Coinbase, but with enough computing power, you can also mine them straight from the blockchain themselves. Every time your computer solves a specific mathematical problem, you’re rewarded with a certain amount of Bitcoins that you can use.

Advantages of Bitcoin

This highly volatile currency is one of the hottest trends in the financial sector today, primarily because it delivers a few distinct advantages. For starters, Bitcoin transactions are almost completely anonymous, which makes it ideal for people who want to transport large sums of money without a trace. Second, it’s universal, so you won’t have to pay any fees to send money across borders. Third, it’s trackable. Since the blockchain records everything, it’s possible for a government or user to verify proof the transaction itself, which can help with either taxes or to solve identity concerns.

Pro Tips for Keeping Your Crypto Safe

By Chika Wonah

On April 2, 2018

In Blockchain, Chika Wonah, Technology

Staying safe online is harder than ever, and the stakes are even higher when there’s money involved. Someone can easily make a fake Twitter account using your profile image and copied bio, and in the time it takes you to report the account, another person might have mistaken it as you and already transferred money to them. It’s an easy mistake to make if you’re not being vigilant, and unfortunately, as soon as you report one account, another can pop up in its place. To keep your cryptocurrency safely in your possession, these suggestions will help you do that:

Know the attack vectors.

You can’t protect yourself if you don’t know what you’re up against. Fake sites have gotten very good at mimicking their targets – so good that if you don’t double check the URL, you might not even know the difference.

Use strong passwords.

This might seem like a no-brainer for digital natives, but it’s worth repeating. Don’t use words like street names, birthdays, or song lyrics. But don’t randomly keyboard smash, either, because a) you’re not as random as a computer generator and b) you want to be able to keep track of your keystrokes, or else risk not being able to sign into your account anymore.

Use cold storage.

All “cold storage” means is offline and unattached or “air gapped,” which is to say, unconnected to your home network in any capacity. You can do this by removing the network card from your computer, or by buying a hardware wallet. If you’re feeling really cautious, you can cover your computer’s camera and microphone, and even remove all electronic devices from that room.

Test everything.

Make small transactions beforehand to make sure everything works. Never manually type in a url – it’s too easy to make a mistake that way, and could cost you a lot of money in errors. Copy/paste and QR codes are your best friends, though make sure your scanning app is reliable! Test your seed phrase on your hardware wallet; test the MD5 checksum before and after you load the SD card on your air gapped computer. Check everything. You can never been too careful.

Store your seed phrases in multiple places.

Your seed phrase is the string of 24 words that you can derive a private key from. You want to make sure your seed phrase stays secure at all times. For some, this means writing the seed phrase down on paper, in which case, it is recommended you make two copies and store them in separate places. SD cards are also an option, though they don’t tend to last more than five years and can be wiped by an EMP bomb. A combination of analog and digital methods is the best option. For the most cautious, they will split the seed phrase in parts and store those parts separately. If you do this, be sure to remember the order they go in, or else lose access to seed phrase altogether.

Plausible deniability.

Most simply, this means be able to keep some of the data hidden. Like in the physical world, you don’t want to advertise how much money is in your bank account, so don’t do it in the digital world, either. Also look into using multiple wallets rather than storing all of your currency in the same place.

Keep your environment safe.

Require two-factor authentication, and educate others on how to stay safe. Help the community at large by reporting fake sites and teaching the less tech-literate about why strong passwords are important. Not only are you keeping yourself protected, but you are also protecting others and paying that forward.