Classify Attacks Based on Blockchain Components
Anandhu Santhosh, Narayanan Subramanian · 2024
Blockchain technology, known for its critical role in ensuring data integrity and securing digital transactions, is facing significant challenges as a result of various cyberattacks that jeopardize its robustness and widespread adoption. This comprehensive review paper investigates potential vulnerabilities in key blockchain components [1]–[3]. We examine the complexities of mining operations, which are essential for cryptocurrency production, as well as consensus mechanisms that ensure blockchain integrity. In addition, we investigate mining pools, which raise centralization concerns in an otherwise decentralized framework. The analysis includes the peer-to-peer network architecture, which is both a strength and a vulnerability, the immutable ledger system, and digital wallets that protect cryptographic currencies. This paper emphasizes the importance of network infrastructure in blockchain functionality and discusses vulnerabilities in smart contracts, despite their automated nature. It aims to provide a detailed analysis of security challenges and potential attack vectors in blockchain systems, as well as recommendations for better security measures. The research is critical for fintech and cryptocurrency developers, researchers, and users, emphasizing the importance of a secure and reliable technological foundation for future advancements.