Detection of Vulnerabilities in Blockchain Smart Contracts: A Review

Abstract

Smart contract technology in today’s world is becoming really popular as it is changing the way transactions in industrial and commercial fields work. Smart contracts are scripts that are stored on the blockchain's distributed network and are used to carry out transactions consequently based on specific criteria without the need for third-party consent. Hence, they can help to minimize the costs of administration and services and at the same time, enhance operational efficiencies and lessen the risk. Despite the smart contracts having a lot of potential to unleash a new surge of technology, it is accompanied with a number of challenges that hinder the privacy and security of the user. Some vulnerabilities are reentrancy, timestamp, delegate call and integer underflow. To resolve these issues, the goal is to develop a smart contract vulnerability detection model based on machine learning algorithms.