Blockchain security issues and concerns

introduction

Recently, due to the impact on public interest in cryptocurrencies such as Bitcoin, interest in blockchain technology has increased and the discussion of blockchain technology has deepened. . There is also skepticism and speculation about blockchain security issues. The functionality of blockchain can make our services more stable and convenient, but the security concerns and issues behind this new technology are also important to our attention.

blockchainIt is one of the greatest technological advances of the last ten years. The integration of blockchain technology as a goal-oriented technology has become an important driving force for technological innovation and market transformation, and countries around the world have accelerated the delivery of ideas, R&D, l application and support of blockchain-related technologies, as well. The application of various industries, the model held the opportunity for the advancement of technology.

technology blockchainis not a technology, Tab sisincluding cryptographic, mathematical, algorithmic and economic models;It isP2P network, sivDistributed consensus algorithmEstablish multi-site integrated systems to solve native partition synchronization issues.With the increasing use of various applications, security concerns related to blockchain digital assets are increasing more and more., the intrusion into digital assets includes various thefts, frauds, fraudulent transactions, financial transactions, illegal dark web businesses, and breaches occur more frequently, and "black swan" events due to multiple endless causes .

P1

Blockchain technology has become a priority

We can easily understand blockchain as:Global distribution of archives that can work together.Unlike traditional IT, read and write functions and authorizations are in the hands of the company or the central authority (central processing). The blockchain believes in:Anyone authorized to configure nodes can register.

Blockchain has become increasingly popular in many online businesses due to its quick and easy way to exchange information. It also provides some important safety precautions. Each blockchain blockchain is difficult to trade, which helps prevent scams. Data changes can be easily tracked by identifying the code number in each block.

P2

Blockchain Ecological Safety Accidents Happen Many Times

Because blockchain is so popular (and because it's often used in a commercial environment)Make it an attractive target for hackers and other cybercriminals.. This preference has created many blockchain security issues.

On July 11, the ongoing hacking operation announced a tweet that it had been attacked by hackers. More than 20 project tokens created using smart contracts on the bridge were stolen by hackers, resulting in a total loss of $ 4 million. . It was already the second stage of the project in July.

As a result of the chain swap, a new V3 cross link chain was developed by AnySwap, a cross link project, which was also stolen on July 12, resulting in a loss of over $ 7.87 million .

In June, Money Leak, DeFi, the BSC ecosystem protocol, received a mortgage, which is the ninth strike against the BSC ecosystem since May.

On August 12, the DAO Maker crypto incubator was hijacked, with a total of $ 7 million stolen and 5,521 users involved.

On September 12, the Zabu Avalanche financial project was struck by lightning ...

file display,In 2020, there were 60 DeFi security attacks, with a loss of $ 250 million. More than 3 times the difference.

As the SlowMist blockchain hack occurs, archive statistics,In the first half of 2021, 78 security incidents were known across the blockchain ecosystem, including 50 DeFi security cases, 2 security portfolios, 3 civil security incidents, 6 climate exchanges and 17 other issues related to security. .

Among them, the total loss exceeds the United States with 27 cases for Ethereum, 22 cases for Binance Smart Chain (BSC), 2 cases for Polygon, 1 case for Huobi Ecology Chain (HECO), Polkadot Ecology and EOS. $ 1.7 billion. SlowMist AML monitored and evaluated participant contributions and found that about 60% of the revenue was transferred to the set by the abusers, and about 30% of the revenue is converted in exchange.

P3

Main security issues in Blockchain

Like any system, the blockchain has its weaknesses., the most important security issues related to blockchain are:

1. Vulnerabilities of blockchain endpoints

When blockchains are presented as nearly 'inoperable', it should be noted that the ultimate security of most blockchain transactions is superior. For example, the benefits of trading or investing Bitcoin can put a lot of Bitcoin in a "gold wallet" or virtual savings account, which may not be protected by blockchain body hackers.

Many third-party vendors can be selected to support the blockchain business. For example, some financial payment platforms, smart contracts and blockchain. Typically, third-party blockchain vendors present insecure vulnerabilities in their applications and websites, opening the door for hackers.

2. Scalability issues

Public chains face the problem of "the failure of the triangular model" and "market-based and leafless" which prohibits the commercialization of blockchain technology.

Currently, there are 100 types of public blockchain chains. “Most of the public chains like Bitcoin, Ethereum, EOS, and Bytom are designed to donate coins. Public chains as a real business are very small. Block chain technology is very important. Tom is lagging behind After all, l he blockchain industry has become a leafless, market-based industry.

3. Policy issues

Blockchain does not have clear regulatory standards and political events can affect its use and development. Because blockchain-based profits are decentralized and global, government-controlled profits can be devalued.

As a result, some governments are pushing to introduce stricter regulations on the blockchain. They want to control the country's economy before it threatens or strengthens it. One of the many challenges of blockchain security, it could be the widespread use of technology.

4. Insufficient tests

While blockchain has traditionally been used for cryptocurrency trading, it has also increased its use in other areas as well. The problem is that the rules used for non-cryptographic applications are often not tested and tested properly. This means that hackers can find and exploit malware.

5. Technical complexity

It is a difficult design from scratch. A little mistake can damage the whole body. Of course, this is an error and not a malfunction of the system itself. Likewise, the complexity of technology makes it difficult for people to understand. As a result, most people will not understand the risks and functions of the system.

6. The size of the network

For a blockchain to work, at least hundreds of nodes (preferably thousands of nodes) are working together. This makes blockchain systems particularly vulnerable to early development struggles and its potential for corruption. For example, if a user controls 51% of the nodes in the system, they have full control of the outcome. On a scale of just 20 knots, that's impossible. .

7. Network speed and efficiency

The design of the blockchain could jeopardize its ability to operate at a reasonable speed. If the system is too difficult or there is a lot of pre-build needed to support the system, data retention and fast exchange issues can arise. It has been listed as a blockchain security issue because it affects other applications.

8. Blockchain transactions using public and private keys.

Although these keys are almost impossible to decipher on their own, cyber criminals can obtain these keys in a more convenient and convenient way. Example: Storing your key on an insecure platform can make it easier for hackers to obtain your key. If someone sees your email password, they have full access to your inbox. Likewise, if a user sees a user key blockchain, they can become a blockchain user, which is one of the key issues in determining the security of the blockchain.

P4

Looking forward to the post-blockchain world

Every system has drawbacks, and blockchain has no exceptions. The key to remember here is,Most blockchain security vulnerabilities are related to human error.When done well and secure, the blockchain is transparent and has no interference.It is also like the "security" that technology accomplishes. By doing so, people can enjoy these benefits without having to worry about the security of the blockchain.

love love,Blockchain technology relies on the interaction of data, full data storage and authentication of trustworthiness.safety advantageTherefore, it incorporates new security protection concepts and standards for network security, transforming existing protections of the network environment into new security protections for every network. The nodes join together and use the splitting of the agreement to prevent attacks by malicious nodes. This field is very user-friendly.

However, blockchain technology is not yet mature enough, the blockchain system still has a lot of hidden risks and vulnerabilities, and even the previous hardware has issues at this point.Therefore, the key to the next phase of promoting blockchain applications is to improve the infrastructure,And to strengthen the research and practice of blockchain surveillance and security technology,It promotes the continuous improvement of blockchain implementation, uses all the advantages of blockchain security technology and improves the level of network security protection, so that the blockchain business can better improve.