8 Important Blockchain Security Risks You Should Understand Before Using Blockchain

Why is the blockchain industry so popular now? Maoqiu technology can be attributed to two main reasons. Sharing and making multiple files is too high and everyone wants to force others to use their machine and data entry.

And commercial blockchains can solve this problem in two ways. First of all, blockchain and smart contracts allow everyone to agree on the types of data and the policies that make it, and most importantly, these rights are governed by the system. . You can't use book replacements unless all of the changes are bad.

Second, since blockchain and smart contracts are the latest technology, they are the key to delivering it to everyone. As it is common that no one now has a complete plan in place, some will try to confuse blockchains and smart contracts with others.

However, new technologies also create new risks, risks that most people are not aware of. However, from Maoqiu's point of view, the export of blockchains and smart contracts presents three new risks: software failures, software flaws and malfunctions.

Fifty years ago, these computers seemed to be the most dangerous computers ever involved. As with other technologies at the meta level, as we move on to content, blockchain and smart contracts are finding new and creative ways to create security risks.

Let's take a look at 8 blockchain security risks ranked by Maoqiu Technology.

1. Software version

It's rare for the blockchain software industry to 'show up', but when it comes to software, software that lasts longer than a year or two is essential to Stone's tools. Age refers to change and improvement.

R3's Corda open-source blockchain platform is a good example of this. Corda has 182 versions, one every 10 days, from May 1, 2016 to May 2021 (version 4.8). Many of them aren't small, major new features and refactorings or code deletion are still available. The real difference for most companies is to choose the software version and not to change it. Because updates can cause problems.

The information that needs to be learned here is to make sure your software is up to date and up to date. If not why not?

2. There is no security breach

Enterprise blockchain software is rarely used for data security. This means that most users will not be aware of the security update unless they follow the vendor's release instructions.

The lack of this program, especially the Public Vulnerability and Exposure (CVE) database and the National Vulnerability Database (NVD), is a major problem. This is because negatives don't exist in many large organizations unless they are recognized.

It's unclear why blockchain's CVE and NVD coverage is poor, but one possibility is the lack of evidence of specific blockchain vulnerabilities.

3. Lack of awareness of the lack of security

Existing software is well known for its vulnerabilities, many of which can be documented online on the Free Information Guide (CWE). For example, the difference between inconsistencies and excessive numbers is the one that has the disadvantages used by hackers. CWE is an important place. Many mathematical analysis tools use it as a basis for the type of dysfunction they want to see.

However, as of May 2021, CWE did not record any type of malfunction in blockchains or smart contracts. The good news is that there are two jobs that document these issues. One is the name SWC (over 30 entries for the Solidity smart contract used by Ethereum and other companies), and the other is the Cloud Security Alliance data on DLT blockchain attacks and malicious names, which has a wide range of smart contracts, blockchain technology and wide There are more than 200 keywords that contain content.

4. No code scanning and security check

At present, it is still unclear what blockchain and contract smart code analysis tools are due to new areas. To make matters worse, many smart contracts are shipped without security checks. However, this situation has started to change and there are many security issues that have made people realize the importance of identifying numbers and developing new keys before sending them. .

For example, a payment network is a decentralized blockchain (dApp) application provider for financial services that is broken while distributing smart contracts created by paid developers, but the developer's secret key is not removed. Then, when the developer's key was made public while uploading Git (the process of saving program code to a vault), the attack paid off.

The contract has passed safety inspection. Inspectors are unable to verify product keys. Because it will be presented. So they thought the payment network would replace it with a security key, but they didn't.

5. Risk at work

Assuming there is a secure blockchain and a well-designed contract, there is no doubt about it. You also need to run your blockchain and smart contracts against certain relationships and trust. If you choose cloud or third-party hosting, you need to make sure that the hosting is always secure.

6. Encryption keys and HSMs

At the heart of every blockchain service and consumer is the encryption key. Despite the passion, storing sensitive encryption keys on a computer is not enough.

To change the location, use the Hardware Security Module (HSM). HSMs are starting to provide two things that most modern computers cannot. First, you can set the key so that it cannot be sent or copied by HSM. Second, HSM enables a better understanding of key applications.

This is important because if the network is compromised, the key can be used to determine the attacker's target rather than predicting that the attacker will do something wrong.

7. Phishing, SIM card swapping and other scams

Commercial blockchains generally do not use technologies such as phishing or SIM card exchanges to attack, and these technologies are generally reserved for consumers against cryptocurrencies.

However, ransomware and other attacks have become phishing and spear phishing for the simple reason that they work so well. One response to this type of attack is to use more genuine and better tokens than the ones used, preventing users from providing information to criminals even if they are fraudulent.

8.51% discount

Finally, the recommendation used in most blockchain export industries is not Proof of Functionality (PoW). It is more likely to use a traditional voting procedure such as proof of stake or general voting.

It tries to disrupt the network with 51% of the attacks that organizations use most of the hashrate or Chinese blockchain capitalization, and mostly affects PoW-based systems. Despite approval as simple as majority voting, protesters had to steal 51% of the vote. It is more difficult than easy to find the capital included because the equipment can be rented.

Therefore

There is good news and bad news. The bad news is that blockchain and smart card software are getting harder to guarantee than anything else. The good news is that the problem they are trying to solve is very difficult.

If you try to create a working file, you know the attacker is malicious, but you do not allow him to cause physical damage. On this issue opened several new stores and opportunities.