Table 1 Malicious attacks to blockchain and defensive measures
Malicious Attack | Definition | Defensive & Preventive Measures |
|---|---|---|
Double Spending | An individual makes more than one payment using one body of funds. | The complexity of the mining process |
Record Hacking | Records in the ledger are modified or fraudulent transactions are inserted into the ledger. | Distributed consensus |
51% Attack | A single miner node with more computational resources (51%) than the rest of the network nodes dominates the verification and approval of transactions. | Detection techniques; wide adoption of the blockchain technology |
Identity Theft | The private key of an individual is stolen. | Identify and reputation blockchains |
Illegal Activities | Parties transact illegal goods or commit money laundering. | Detection techniques; laws and regulations |
System Hacking | The programming codes and systems that implement a blockchain are compromised. | Robust systems and advanced intrusion detection methods |