Abstract
Blockchain is a revolutionary technology that enables users to communicate in a trust-less manner. It revolutionizes the modes of business between organizations without the need for a trusted third party. It is a distributed ledger technology based on a decentralized peer-to-peer (P2P) network. It enables users to store data globally on thousands of computers in an immutable format and empowers users to deploy small pieces of programs known as smart contracts. The blockchain-based smart contract enables auto enforcement of the agreed terms between two untrusted parties. There are several security vulnerabilities in Ethereum blockchain-based smart contracts, due to which sometimes it does not behave as intended. Because a smart contract can hold millions of dollars as cryptocurrency, so these security vulnerabilities can lead to disastrous losses. In this paper, a systematic review of the security vulnerabilities in the Ethereum blockchain is presented. The main objective is to discuss Ethereum smart contract security vulnerabilities, detection tools, real life attacks and preventive mechanisms. Comparisons are drawn among the Ethereum smart contract analysis tools by considering various features. From the extensive depth review, various issues associated with the Ethereum blockchain-based smart contract are highlighted. Finally, various future directions are also discussed in the field of the Ethereum blockchain-based smart contract that can help the researchers to set the directions for future research in this domain.
Highlights
B LOCKCHAIN technology can be defined as an immutable, shared distributed ledger, spread over thousands of computer systems
Various future directions are discussed in the field of the Ethereum blockchain-based smart contract that can help the researchers to set the directions for future research in this domain
We have presented a systematic review of the Ethereum smart contract security vulnerabilities including well-known security attacks with their preventive methods
Summary
B LOCKCHAIN technology can be defined as an immutable, shared distributed ledger, spread over thousands of computer systems. Blockchain technology [1] gained implausible attention after the publication of Satoshi Nakamoto’s [2] white paper in 2008. Satoshi gave the solution to the double-spending problem for digital currency in a decentralized P2P [3] network. Dubai appointed a minister in charge of Artificial Intelligence with a vision of becoming the world’s first blockchain-powered government [4]. Saudi Arabia, one of the Middle Eastern countries, recently announced to use blockchain technology [5] for cred-. Application Layer Consensus Layer Data Layer Network Layer.
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