Blockchain and Smart Contracts security

Blockchain technology is currently one of the most popular technologies and has the potential to be used in every industry. It provides secure decentralized storage and is also referred to as a distributed ledger technology (DLT). Some blockchains, e.g. Ethereum, are known as next-generation blockchains because they incorporate smart contracts that automate the process of decentralized executions of programs.

 

Security controls are embedded in technology through the use of cryptography, which ensures the authorization of architecture components and the inability to modify the approved data. However, the resistance of blockchain technology to the attacks addressed by the technology security model does not make it immune to other attacks, which are, for example, related to blockchain data management.

 

In fact, new threats are emerging for blockchain technology that do not apply to centralized databases. Among them you can mention the problem of private keys management that authorize the system’s architecture components, security threats regarding public endpoints that access blockchain, or security flaws in the implementation of services which use cryptographic mechanisms.

 

The blockchains that use smart contracts are particularly at risk because they store and execute third party applications. Many stories confirm that security threats concerns smart contracts. We have summarized the security of applications that used blockchain in a separate article.

 

Our response to the above threats is a security audit of the architecture using blockchain and decentralized applications:

  • penetration testing of blockchain-based infrastructure,
  • security tests for endpoints and applications integrated with blockchain,
  • source code review for smart contracts and decentralized applications.

 

If you are in the phase of designing or implementing your blockchain-based solution or smart contracts, we can help you find design flaws and design a secure system (security-by-design). We also offer workshops on which we present threats that should be considered at the stage of designing and implementing your application.