Steemit Crypto Academy Contest / S12W4 - Tokenization

Data tokenization is a Technique for improving a data security that involvas replacing sensitive information with non-sensitive placeholder or "token". To represent the original data in this procedure a random string of characters is created,while the Sensitive data is securely stored somewhere else.

First Finding the precise data that needs to be safeguarded in the first place such as credit card numbers,Social security numbars, or other personally identifiable data.

tokenization system creates special Token when it receives any sensitive data.This token has no intrinsic value and has no connection with the originals data.

The tokenization system control the maping between the sensitive data original form and the associated token.This mapping is safely kept in a data base and is accessible when anyone required it.

actual sensitive information is kept separate and is kept in a safe place that is frequently called a "vault" or "token vault." This vault has strongest access controls and is only accessible to the authorizes people.

tokens are utilized in place of direct access to sensitive data during processes like transaction processing and analytics.This emplies that processes and systems can do function without actually disclosing sensitive data.

tokenization system run a database lookup to find the appropriate token whenever the original sensitive data is required Only the authorized users can have access to this secure lookup.

How important is data tokenization? Give your own opinion.

Data tokenization in my opinion is very crucial for contemporary data security it offers a strong layer of security forthe sensitive data especialy in sectors that deal with significant numbers of financial and personal data.By using tokens in place of sensitive data even if a breach occurred the stolen data would be practically meaning less without access to the original data.This method enables firms adhere to strict data protection standards while greatly reducing the chances of data disclosure To guarantee that tokenization is effective it must be used in conjunction with other security measures and subjected to routine audits.

Benefits and limitations of data tokenization.

By adding the second leyar of security through tokenization,it becomes more difficult for unauthorized individual's to access and abuse sensitive data.

Tokenization enables necessary actions like Analytics or transactions processing to be carried out without disclosing private information.

Tokanization reduces the danger of unwanted access to sensitive data even within organizations.Strong data protection practices like tokenization improve organizations reputation and foster customer trust.

Tokenization implementation can be difficult and may call for sizable initial investment in systems and infrastructure.

Effective management of the tokenization system is essantial including Safe data storage and token management Vulnerabilities may result from any failures.

If the tokenization database is compromised the tokens may be linked to the relevant sensitive data jeopardizing security.This can be a threat to data security.

Tokenization might not be appropriate in some situations where genuinely sensitive data is required like in some processing or analytics procedures.

Are Tokenization and encryption the same thing? Explain your answer, giving a practical example.

We can say that both methods are used for protection of data but use distinct method of protection.There can be some differences in both.

Let me more clearly explain with example; consider that when we buy something on e commerce website and we give our credit card information for payment like card number, expired date etc at checkpoint.Then the e-commerce website use the tokanization process to replace our private and sensitive cradit card information with any random token.This token is used for processing but our actual credit card information is safe and stored in a separate data base called "token vault". If the credit card number is "123456789101112" it may be tokanized in the form of random numbers like "123A4C56D7FG9".

The same e-commerce website also use encryption method for safe and secure transactions.For example after buying something customer's browser encrypt the transaction data through transport layer security before sending it to main server.payment processor receives this encrypted data and then this encrypted data is decrypted for transaction purpose

Steem and Tokenization, what are Smart Media Tokens? Give your own opinion.

A social networking site built on the blockchain technology called Steemit pays users for selecting and creating content.The valuable content is appreciated with the help of rewarding them Steems in return.

A more general tokenization is applicable to several blockchain systems including Steem. It enables using non-sensitive tokens in place of sensitive information.Beyond just social network benefits tokenization can represent any type of real or digital asset on a blockchain For asset representation,security & transaction convenience it is utilized in a variety of businesses.

conclusion:

In short tokenization is a broader idea that can be applied across multiple blockchain platforms and businesses for a variety of reasons and purposes whereas Steem is a reward given to content creators as incentives.