Ensuring wallet application security by resolving reentrancy attacks in blockchain smart contracts

Abstract

With the advancements in technology, blockchain systems have seen widespread use and rapid growth in the field of data security and verification. Blockchain is used in a variety of applications, including financial transactions, healthcare, insurance, Internet of Things, education, and many more, with the promise of increased skills and resilience. This smart distributed peer-to-peer design drew interest from a variety of businesses and communities outside the financial sphere. The major focus of the proposed work is on security challenges and limitations of Ethereum-based smart contracts. Ethereum smart contract is vulnerable to reentrancy security attack. The proposed work analyze reentrancy attacks and assess countermeasures to dissuade vulnerabilities on the network.