By 2025, cybercrime will cost the world $10.5 trillion yearly, while the entire cost of cyberattacks in 2022 will be $6 trillion. Globally, 30,000 websites are hacked daily and 64% of companies worldwide have experienced at least one form of cyber attack.
To help address these issues the team at SmartLedger has developed Sentinel Node. Speaking at the recent London Blockchain Conference, Bryan Daugherty (Public Policy Director for BSV Blockchain and Founder of SmartLedger) noted that Sentinel Node (by Certihash) leverages the robust features of the BSV blockchain to enhance security monitoring and breach detection.
What is Sentinel Node?
SmartLedger crafted the Certihash suite exclusively for corporate clientele, presenting a tailored solution to mitigate the perils associated with data breaches. The inaugural component featured in Certihash, known as Sentinel Node, furnishes real-time notifications for network events.
This all-encompassing toolkit harnesses the BSV blockchain to guarantee the confidentiality, integrity, and accessibility of records, rendering them openly available on a permissionless blockchain.
Sentinel Node is the first Certihash module to be released, allowing for real-time notification of events that are occurring on a network. The toolset utilises the BSV blockchain to provide the confidentiality, integrity and availability of records to be distributed publicly across a permissionless blockchain.
Utilising time-stamped data attestation, it monitors selected logs and files for any unauthorised access or alterations, providing an immediate alert in case of a breach. To further bolster the system’s security, Sentinel Node requires administrators to sign these alerts with their private keys. This ensures the authenticity of alerts and adds another layer of protection against potential cyber threats, further enhancing the integrity and security of monitored data.
Offering governments and enterprises peace of mind
‘Cybersecurity tools should not only be accessible but also affordable to any company or institution that needs to protect its data. With the BSV blockchain, we’re able to lower costs because of its inherent scalability. There is no reason that this technology cannot be adopted by schools, hospitals and small businesses, in addition to multinational companies,’ said Daugherty.
This was echoed by Greg Ward (Chief Development Officer at Smartledger). ‘We’re looking to provide companies with confidence and peace of mind when it comes to data integrity, auditability and accountability. And as data becomes increasingly more valuable, so too does the threat of cyber hacks. With Sentinel Node, you can rest assured that you will receive real-time notifications of any attacks on your system,’ he said.
Building on the BSV blockchain offers a multitude of advantages, with particular emphasis on the crucial aspects of micropayments and extensive scalability in the realm of cybersecurity. Traditional systems cannot scale adequately for the constant attestation required to test a network on a per-second basis.
By hashing these records on the blockchain and establishing a chronological chain of events, the timeframe for potential cyber breaches is reduced. Simultaneously, this approach addresses concerns related to data silos, which are currently constructed to safeguard and manage information.