Blockchain Security Attacks, Difficulty, and Prevention

Abstract: Blockchain technology is increasingly attracting young people because it is so well adapted to the digital age. A decentralised data management system is necessary for the blockchain idea in order to store and share data and transactions throughout the network. This study investigates various types of risks associated with blockchain technology. The research covers different aspects of blockchain, including the architecture, consensus mechanism, smart contracts, and underlying cryptographic algorithms. It also examines the risks associated with the adoption and implementation of blockchain in various industries, such as finance, healthcare, and supply chain management. Moreover, this study identifies several types of risks, including technical risks, such as scalability, interoperability, and security, as well as non-technical risks, such as regulatory compliance, legal liability, and governance issues. This study also discusses the potential impact of these risks on blockchain-based systems and the strategies that can be used to mitigate them.