Blockchain security is basically a thorough risk assessment process carried out for a blockchain system or network to assure its security.
By using cybersecurity frameworks, secure coding practices and security testing methodologies, blockchain solutions can be secured against online scams, data breaches, and other cyberattacks.
Blockchain technology is deployed by businesses to manage digital transactions, distributed databases, cybersecurity, and healthcare to create blockchain-based solutions for their clients.
The main advantage of employing blockchain technology is that it guarantees transaction security thanks to its cryptographic, decentralized, and consensus-based features.
While the adoption of blockchain offers numerous benefits for international businesses, it has also drawn lots of hackers who want to hack the system and damage businesses.
In the realm of cyberattacks and hacking attempts, Blockchain security has recently grown to be a critical component of enterprises’ procedures that keeps them on their toes.
Blockchain penetration testing is a procedure for evaluating the security of a blockchain-based service or application. It is carried out by ethical hackers or security experts.
Finding vulnerabilities, security gaps, and misconfiguration problems in the system are the major goals of blockchain penetration testing.
Organizations can learn about the overall vulnerabilities of their blockchain security and address any potential vulnerabilities in their blockchain-based apps or solutions by doing Blockchain penetration testing.
Blockchain penetration testing can be divided into 3 phases:
This phase involves comprehending and examining the functional and business needs
This stage comprises:
- Understanding the architecture of a blockchain
- Identifying points of entry for threats within the organization
- Collecting publically accessible information about potential exploits
- Assessment of Smart Contract Business Logic
- Establishing goals for performing security testing
- Creating a complete test strategy
Utilizing the information gathered in the first phase, you can now actively test your blockchain to determine its level of development as compared to industry standards and best practices.
The goal of this stage is to exploit any security flaws or vulnerabilities identified during the Discovery phase.
To get rid of erroneous positives, this is typically done manually. In the exploitation phase, data exfiltration from the target and perseverance monitoring are also tasks.
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