BlackRidge Technology International, Inc., a leading provider of next generation cyber defense solutions, has formed a new business subsidiary called BlackRidge Secure Blockchain to pursue new market opportunities for securing blockchain applications.
The BlackRidge Secure Blockchain subsidiary intends to develop and market a next generation security solution for blockchains to address vulnerabilities that are being exploited. A provisioned blockchain for commercial and cryptocurrency markets can be attacked and compromised, not unlike the recent website hacks that resulted in customer records being stolen.
BlackRidge’s patented First Packet Authentication technology can cloak and protect communications between clients/miners, eliminating exposure of transactions and blocks to network attacks, and similarly protect communications between miners to reduce the time to achieve consensus. A user of a provisioned blockchain protected by BlackRidge will know that the blocks on the chain are immutable and that the communication paths between the participating nodes are secure.
“Given the increasing number of blockchain breaches in the past year, an additional layer of network protection is needed for provisioned blockchains,” said John Hayes, CTO and cofounder of BlackRidge Technology. “Our identity-based cyber defense technology can protect blockchain communications and nodes from network scanning, spoofing attacks, and distributed denial of service attacks.”
