Exploring Security Threats on Blockchain Technology along with possible Remedies

Abstract

Being the center of commotion in recent times, Blockchain Technology is on its way to bloom in the technological world. With countless applications, even governments and health facilities are adopting blockchain technology into their applications because of the reliability and security it is supposed to provide. Not to mention how it bought about revolution in currency by making it possible for crypto-currency to exist as introduced by Satoshi Nakamoto in his ground-breaking paper. Unfortunately like every other technology in existence, blockchain is also potentially vulnerable no matter how secure it was meant to be designed. We will take a look at such potential threats to the blockchain technology in this paper, from seemingly human factors to some technical aspects that are not too deep to understand for anyone. We will also discuss about the possible remedies to the explored threats to the blockchain technology.