How a blockchain transaction works
Those that have done their research about AVSecure’s global age verification solution will know that it is underpinned by blockchain technology, chosen because of the security benefits that its encrypted infrastructure brings. But what exactly is a blockchain, and how does it work in practice?
The AVSecure private blockchain contains a repository of encrypted tokens, representing our consumers that have verified their age to access age-restricted online services. It’s important to reiterate that these tokens do not house any sensitive information that can be linked to any of our users. Blockchain technology was chosen by AVSecure as a means of reducing the dependency of consumers and online content providers on AVSecure.
The private blockchain allows consumers to generate valid tokens to pass to content providers. In turn, the content providers can check our private blockchain to validate the token without our assistance, creating a truly federated age verification system.
If you’ve always wondered how transactions work on a blockchain, and how data is stored across this decentralised network, read on for a basic overview.
Think of a blockchain as a set of data that is exceptionally difficult to forge. In fact, the only way to copy or amend the data would be to undertake a ’51 attack’, which would see cyber-hackers gain access to the majority (51%) of the blockchain’s ‘nodes’ – something which is very difficult to achieve.
Each transaction or piece of data stored within a blockchain is encrypted by a hash function, turning transaction data into a string of letters and numbers. To make a blockchain even harder to hack, each new hash generated on the blockchain also features the last generated hash on the blockchain. If someone wanted to alter the blockchain, they would have to change the hash in all previous transactions.
To ensure blockchains are more resilient to cyber-attacks, all transactional data is replicated within a plethora of nodes using digital ledgers. These ledgers are a true copy of the up-to-the-minute data submitted on a blockchain. For any future transaction to be processed, it must be approved by the majority of nodes, double-checking the validity of each transaction. If the nodes approve a transaction, it is then written into the nominated block and the digital ledger is subsequently updated across all nodes.
AVSecure’s blockchain solution is capable of processing thousands of transactions a second, generating and storing consumers’ tokens on the blockchain that can be viewed and validated by trusted third-parties using ‘read’ permissions.
We firmly believe our blockchain platform is the best way to optimise the protection of consumer anonymity online, whilst satisfying the compliance requirements of age-restricted content providers.