Function Locking Fused with Hashing Technique to Mitigate Re-entrancy Attacks in Smart Contract

Abstract

Reentrancy attacks have been a significant threat to smart contracts on blockchain platforms. This attack allows an attacker to repeatedly call a vulnerable function in a contract, leading to unexpected behavior and loss of funds. In this research paper, we propose a preventive approach to mitigate the reentrancy attack by introducing a locking mechanism. Our proposed method involves the use of a lock that prevents a contract from being called again until the previous execution is completed. We implement and evaluate our proposed approach on the Ethereum blockchain platform using various benchmarks. Our results show that our approach effectively prevents reentrancy attacks while incurring a low overhead cost. Our proposed approach can be integrated into smart contract development to enhance security and protect against reentrancy attacks by implementing the Function locking technique and Verifying by hashing technique.