The Human Factor In Blockchain Development: How It's Prevented Blockchain From Flourishing

As a tech that allows companies to build powerful systems and store data securely, blockchain has found quick adoption, especially in the field of finance. The decentralization capabilities have also become a valuable asset in political, social, and economic areas.

Like so many young technologies, blockchain works very well on paper. In fact, blockchain technology has been reviewed from every possible angle and its future is very promising.

Despite the glowing reviews, however, we have yet to experience a futuristic world run on blockchain systems. Risks often come from an unexpected source; one that is not necessarily considered when securing blockchain systems: the human factor.

The human factor has prevented blockchain from flourishing. This article will look at how and why.

System Building

Decentralized systems are arguably the most interesting aspect of blockchain. Initially, it promised a true revolution as a financial system not controlled by banks.

Human behavior, however, affects the rules and protocol configuration. Selecting consensus algorithms or security parameters is always determined by the way humans interact with the system, which can allow people to take advantage of it.

While some architectures can successfully navigate the human factor—such as the proof of work consensus, which was originally designed as a captcha mechanism in the early 2000s—there are multiple architectures that are more susceptible to external attacks.

For example, 51% of attacks happen regularly as a result of asset concentration.

Another factor to consider is how the blockchain is managed. There are also private blockchains and several decentralized platforms—such as Hyperledger, Corda, and Quorum—but a blockchain can’t be controlled and regulated by a single authority, as that would defeat the purpose.

Security And Audits

Despite its efficient operation, blockchain cannot create or evolve its own security measures. During the process of development, human error can create vulnerabilities within the system. Regular and efficient audits are, therefore, vital.

Ideally, every time a new string of code is written, it should be audited and tested separately and with the whole contract. But some cut corners, eager to release the product quickly.

External attacks are very common, and the responsibility for them falls equally on the attacker and the protocol owner. You can’t prevent every attack, but there are mechanisms to contain it or stop it altogether.

Security has to be an essential part of the whole development process. That’s where consensus audits and attack threat modeling come in. Unlike a code audit, this process involves the initial idea and possibly some block diagrams.

Consensus audits review the main rules that need to be followed for a consensus to be reached. Something like passing a law or a bill in the government.

Attack threat modeling follows that law analogy and shows what happens if the law is abused. By modeling such situations in advance, you can help prevent them.

We encounter this all the time with HashEx, especially with experienced companies as they order attack threat modeling to be able to see in advance which types of attacks would be likely used against the architecture.

Consulting during the early development stages can provide project owners with the necessary information and help them overview the scope of the work that lies ahead.

There are methods to secure blockchains. All we need is to take advantage of them.

Interface And Accessibility

One of the primary goals for all blockchain developers is increasing the adoption of this technology. So far, it’s been a slow and painful process, mostly due to blockchain’s complexity.

Psychologically, we aren’t inclined to use a system that consumes a lot of time and requires extensive education. Humans want and will always choose user-friendly options. That’s what blockchain has to become: user-friendly.

Sure, it starts with a code, but it doesn’t have to be complicated. There have been many suggested uses for blockchain in commerce, healthcare, or when working with documents. In all cases, one of the main issues preventing adoption is usability. To understand this, here are a few examples that illustrate the practical applications of blockchain:

• Walmart has been at the forefront of integrating blockchain technology into its supply chain management, particularly in the realm of food safety and traceability. By implementing a blockchain-based system, Walmart has enhanced the transparency and efficiency of its supply chain.

This technology allows for precise tracking of food items throughout the entire supply chain, from farm to store shelves. The primary goal is to ensure food safety by quickly identifying and addressing any potential issues in the food supply chain.

• Another sector where blockchain has made significant strides is in digital identity verification. Estonia's e-Residency program is a pioneering example of how blockchain can secure personal data.

• In the healthcare industry, blockchain-based systems are being developed to manage electronic medical records in order to improve the security and interoperability of healthcare information.

By focusing on user-centric design, blockchain can be made more accessible, encouraging adoption across various industries.

What Blockchain Needs

Some may disagree, but blockchain doesn’t have the best reputation today. Yes, it’s been an incredible help to many areas, but its notoriety is mostly connected to financial scams and failures of the market.

The key to changing that is education. And I don’t just mean educating people about the technology and its advantages. We need to educate professionals to take over the development and management of blockchain-based systems.

We have to involve it so it can do more good. And it’s most necessary to fix our previous mistakes.

Maximizing the positive effects of this technology should be a priority. Blockchain can’t remain a closed field for a group of skilled experts. For the technology to truly bloom, it has to become accessible.

Follow me on LinkedIn. Check out my website.

Also published here