Stratus Cyber Founder and CEO Ajay Chandhok discussed blockchain security on the Blockchain360 podcast last week.
The Blockchain360 weekly podcast, now in its second season, features discussions about the current state of blockchain and where the technology is heading in the future. During the episode, Chandhok focused on dismantling “the security myth” that surrounds blockchain technology.
“Everyone thinks blockchain is inherently secure by itself,” said Chandhok during the podcast. “When you think of blockchain, you think ‘security,’ but that is not necessarily the case.”
Chandhok discussed how threats to blockchain-based systems and companies often centers around the way humans interact with the technology. He used Telegram chats, which ICOs and companies often use for community engagement, as an example.
“What often happens is hackers — malicious people — join those telegram chats,” said Chandhok. “They post malicious links, they try to pretend they’re administrators of the Telegram chats, post fake wallet addresses, and so forth, and unsuspecting people fall for it.”
Chandhok highlighted how Stratus Cyber’s Telegram security bot fights hackers by monitoring chat traffic for keywords used by malicious actors and banning people that post wallet addresses.
Other topics covered include the importance of testing and auditing smart contracts as well as the future of blockchain from a security standpoint.
Listen to the full audio of the episode here.
Fun fact: Chandhok also revealed that he’s mining Ethereum, Monero, and Zcash out of his basement. Check out the audio to find out the GPU power!