Comprehensive Analysis of Fundamentals, Innovation, and Key Challenges of Blockchain

Abstract

Distributed databases are built on top of blockchain, which is based on digital encrypted currency. Decentralization, nontampering, high autonomy, and distributed consensus are only a few of the properties of the blockchain system that allow it to achieve distributed consistency without the need for third-party supervision. Blockchain technology has grown in popularity as a weak trust platform application because of its rapid growth, but it is also vulnerable to assaults on its own system weaknesses. In this chapter, we summarize and analyze some of the key technical principles of blockchain, its advantages and disadvantages, as well as technical vulnerabilities and security attacks in blockchain systems. We also summarize and categorize the different types of technical vulnerabilities and vulnerability attacks. The top three vulnerabilities in the blockchain system are referred to as syntax problems, environment setup mistakes and graphical interface issues. Vulnerability attacks offer a significant security risk to the blockchain. In order to improve future blockchain technology and serve as a point of reference for further development, it is critical that this be taken into account and avoided.