On August 13th, a survey on the
security of Ethereum for use in applications was published. Written by academic researchers Huashan Chen, Marcus Pendleton, Laurent Njilla, and Shouhuai Xu, the survey reveals that using blockchain for decentralized applications (DApps) rather than cryptocurrency leaves it open to many kinds of attack.
As Ethereum is now used widely for DApps and underlies many enterprise projects, the authors of the survey saw the need to explain the blockchain’s weaknesses. “Despite the fact that there have been some surveys, they did not offer a systematic and comprehensive view on Ethereum vulnerabilities, attacks, and defenses as we do,” they wrote.
The platform has become a “standard” for application building, now worth over $20 billion with a million executing smart contracts. The complexities involved in these smart contracts and automation on the blockchain bring new security concerns, the survey explains.
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