Smart Contract Firewall: Protecting the on-Chain Smart Contract Projects

Abstract

The burgeoning landscape of blockchain technology has made the security of deployed smart contracts an imperative concern. While existing security measures excel in pre-deployment testing, they fall short in protecting smart contracts once they are deployed, leaving them susceptible to malicious attacks. In this paper, we propose a novel Smart Contract Firewall framework designed to bridge this security gap. Functioning as a dynamic gateway, the framework employs real-time transaction inspection through adaptable filtering rules, enabling the identification and rollback of malicious transactions as they occur. Our empirical analysis demonstrates the framework's efficacy in mitigating a majority of existing vulnerabilities in the deployed smart contracts. Although the added layer of security comes at a cost, we prove that the increased gas expenses could be limited to 30 % -50 % for most transactions. This trade-off, we argue, is a small price to pay for significantly enhanced security.