“Vulnerabilities in Smart Contracts: A Detailed Survey of Detection and Mitigation Methodologies”

Abstract

In the ever-changing world of blockchain technology, the emergence of smart contracts has completely transformed the way agreements are executed, offering the potential for automation and trust in decentralized systems. Despite their built-in security features, smart contracts still face persistent vulnerabilities, resulting in significant financial losses. While existing studies often approach smart contract security from specific angles, such as development cycles or vulnerability detection tools, this paper adopts a comprehensive, multidimensional perspective. It delves into the intricacies of smart contract security by examining vulnerability detection mechanisms and defense strategies. The exploration begins by conducting a detailed analysis of the current security challenges and issues surrounding smart contracts. It then delves into established frameworks for classifying vulnerabilities and common security flaws. The paper examines existing methods for detecting, and repairing contract vulnerabilities, evaluating their effectiveness. Additionally, it provides a comprehensive overview of the existing body of knowledge in smart contract security-related research. Through this systematic examination, the paper aims to serve as a valuable reference and provide a comprehensive understanding of the multifaceted landscape of smart contract security.