CandleFocus Unveiling the Hidden Threats: Critical Blockchain Security Flaws Exposed
2024-10-18
Author: Content Editor
This article highlights four key security issues in blockchain technology: routing attacks, Sybil attacks, compromised smart contracts, and 51% attacks. Routing attacks occur when attackers target network traffic passing through nodes, leading to a network split. Sybil attacks involve individuals signing up multiple times to gain control over nodes, undermining decentralization. Smart contracts can contain vulnerabilities, resulting in the theft or loss of cryptocurrency. Lastly, a 51% attack occurs when a group controls over 50% of computational resources or coin votes, allowing them to manipulate the blockchain and reverse transactions.
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