Vulnerabilities in Smart Contracts of Decentralized Blockchain

Vulnerabilities in Smart Contracts of Decentralized Blockchain

연구 분야: Strategies

학회: International Conference on Recent Developments in Cyber Security

In the recent years, there has been a tremendous surge in the popularity of blockchain, even more so since smart contracts started getting used on top of the blockchain protocols. Smart contract are low-level code scripts running on the blockchain which are also automated. Because of being automated, smart contracts can take place of a trusted 3rd party with Peer-to-Peer transaction taking place using this technology. Because of their productivity alongside blockchain the popularity of smart contracts has soared in recent times, to the extent that a huge amount of money is being exchanged every day in the finance world using this blockchain-based technology. Nevertheless, no system can be completely foolproof and safe, which is also true for smart contracts as they can be vulnerable. There have been several instances where the management of smart contracts has resulted in conflicts or issues, which have become the biggest concern of the smart contract developers and the users. Since the use of smart contracts started with Ethereum blockchain, it has advanced in many aspects but also have gotten exploited again and again because of the vulnerabilities. This paper presents a survey of research work done on the vulnerabilities of smart contracts, highlighting the common vulnerabilities mentioned in these papers alongside their corresponding prevention methods. Additionally, we examine the common shortcomings found in these papers.