Blockchain Based Solutions and Cyber Security!
Blockchain security risks are a top concern for businesses and individuals taking advantage of new technology in a digital world. Blockchain is known for its decentralised and tamper-resistant nature, but that does not mean it is immune from cyber threats. It is important to understand the weaknesses and also set up strong cyber security measures to maintain integrity, confidentiality, and availability of the blockchain-based solution. A Guide to Blockchain Security Threats Although blockchain technology is built on highly sophisticated cryptography, it is not insulated from many security threats, including: 51% Attacks – When bad actors control over half of a blockchain network, they can tamper with transactions and compromise the entire system. Smart Contract Vulnerabilities – Poorly coded smart contracts can leave systems vulnerable to hacks that can lead to financial losses and data breaches.