Certihash announces a project to develop “Sentinel Node”, the first of a suite of five blockchain-empowered enterprise utility applications, based on the National Institute of Standards and Technology (NIST) cybersecurity framework.
Certihash selected IBM Consulting to assist with the software design and development. As part of this project, IBM Consulting will use a proven network design framework and draw from its vast experience in delivering decentralized applications to enterprises, to work on a state-of-the-art decentralized cybersecurity infrastructure.
Cyber-attacks continue to increase globally in frequency and impact, challenging operations, customer service, reputation, regulatory compliance, and financial stability. According to Ponemon’s 2021 “Cost of a Data Breach Report”, sponsored by IBM, it requires an average of 212 days to identify a data breach and an average of 75 days to contain it (287 days total), increasing the total time by one week since the prior year’s report. Of the 537 real breaches across seventeen countries the report studied, data breach costs significantly increased year-over-year, from $3.86 million USD in 2020 to $4.24 million USD in 2021. The United States had the highest average total cost of a data breach, eclipsing $9 million USD.
“Over the last decade, technology has struggled to effectively prevent and consistently detect cybersecurity breaches. ‘Sentinel Node’, which is the first of five planned Certihash releases, represents our innovative solution for the real-time detection of network anomalies and events. Cybersecurity is no longer about prevention alone, it is about detection at the earliest possible moment,” said Bryan Daugherty, co-creator of Certihash.
“As the time to identify network breaches lengthen and cyber-attacks continue to occur in greater intensity and frequency, fresh solutions are required to replace the lack of confidentiality, integrity, and availability in our networks and data. Sentinel Node will provide an entirely new level of cyber threat detection and alerting,” Daugherty continued.
For over two years, Certihash has been working on the technology behind the scenes and plans to launch its ‘Sentinel Node’ solution worldwide in the next six months. IBM Consulting, who will be assisting in the project, has vast experience in implementing enterprise-grade, decentralized applications, where security considerations are critical, including in banking, capital markets, and the energy sector.
IBM’s know-how in developing enterprise blockchain infrastructure at scale will be critical in the design and implementation of Certihash Sentinel Node. The application will be deployed on BSV blockchain – a public permissionless blockchain protocol with sustainable scaling capabilities, that Certihash believes to be ideally suited to meet rigorous requirements of the highest cyber-security standards. IBM Consulting’s primary goal is to assist in addressing business problems and find the best technology solutions to solve them, and the work with Smartledger reflects that.
Amid the evolving threat landscape, new security innovation is needed as traditional solutions to cybersecurity are no longer adequate. Blockchain technology can solve the current challenges related to identifying a data breach. The capabilities of blockchain, such as transparency, immutability, and decentralization of data, as well as chronologically registered, time-stamped records allow for building a secure and robust infrastructure that can lead to faster breach detection and response. Moreover, blockchain removes reliance on trusted authorities and third-party technology manufacturers, creating a secure, auditable, and stable infrastructure.
“By combining the critical information security of a Proof of Work consensus protocol, with the sustainable scaling capabilities, BSV blockchain, the protocol behind Certihash Sentinel Node, enables a foundation for connected systems that can help to make better, real-time decisions, increase the efficiency of energy usage, and improve the overall quality of life,” commented Greg Ward, co-creator of Certihash.
Ward continued: “The final phase of every successful data breach is obfuscating the evidence. After gaining entry to the network, a bad actor will clear their tracks to avoid being traced and apprehended. Certihash ‘Sentinel Node’ silently stands guard over the network, immutably recording access logs, while simultaneously alerting system administration upon a breach, attempt, or anomaly.”
Certihash ‘Sentinel Node’ due to launch later this year will include:
- Unalterable, centralized log collection and normalization
- Automated threat detection, response, and immutable audit trail
- Real-time monitoring of system health and performance of network through a single pane of glass (SPOG)
- Distributed data processing and file integrity monitoring
- Compliance reporting tools
- Actionable cyber threat intelligence for investigation, forensics, and response
An MVP version of the application is scheduled to be launched in early fall 2022.