Unveiling Benefits of Blockchain in Networking

By CIOReview | Friday, November 30, 2018

Blockchain has become a revolutionary technology that provides businesses the ability of transparency in transactions, and the first cryptocurrency to use this technology is Bitcoin. The blockchain is an immutable digital ledger of transactions that can be programmed to record everything virtually. The blockchain is a distributed database where the information is shared across various computer networks. Blockchain has the ability to disrupt multiple industries by making the processes secure, transparent, and efficient.

The blockchain provides a distributed transaction ledger which provides a secure way of mapping the changes throughout decentralized networks. Each block of data will be present in the cryptographic document and time stamped in a specific network. The information present on the network can be read only through the encryption process. As each block of data would be time-stamped, the first block will represent the initial state of deployment, and the last block will denote the entire configuration. The advantage for blockchain in networking is that it can build complete information of each device’s history which is available on the network. This could improve the efficient functions like adapting firewall rules to check the current state by holding a record even though a device is removed from the network.

The application of blockchain technology in network lifecycle management to verify and secure records is a disadvantage. Efforts are required to make the distributed ledger function in a highly distributed, heterogeneous network. The process of making blockchain to provide effective networking services requires a great effort. Most of the organizations have a strict record for configuration changes which has resulted in developing a trusted resource in the configuration management database (CMDB). CMDB is a database that contains all the information regarding the hardware and software components used in IT organizations. Each component in CMDB is considered as a configuration item that can be a software, hardware, as well as combination of components. The primary tasks of configuration management include identifying configuration items to be incurred in CMDB, changing data only by authorized individuals, making a report of current status, and ensuring that the data is accurate.