Review of Blockchain Technology Vulnerabilities and Blockchain-System Attacks

Abstract

Blockchain is a relatively young technology. In recent years, blockchain has gained popularity, which keeps growing. Such interest is mainly due to cryptocurrencies, such as Bitcoin and Ethereum. This technology has presented promising prospects of application. With the increasing interest in blockchain from cryptocurrency to smart contracts, there are precedents of attacks on the blockchain platform. This, in turn, encourages consideration of blockchain in terms of security, identifying vulnerabilities and predicting the emergence of new vulnerabilities. That further would allow to find new methods and solutions for blockchain security. In this paper, the known vulnerabilities were considered, as well as the known attacks on blockchain and their successful implementations in recent times.