After studying most of the concepts and applications of blockchain technology, it's crucial to discuss its strengths and weaknesses in order to realize the level of security that is required. In this chapter, we will be addressing some of the significant challenges faced by blockchain technology. Along this journey, we'll also point out the possible attacks you can encounter in the blockchain network and how they can be prevented.
We'll be looking at the following topics in this chapter:
- Transaction security model
- Decentralized security model
- Attacks on the blockchain, including:
- Double-spend attacks
- 51% attacks
- Eclipse attacks
- The threats presented by quantum computing
Blockchain technology was adopted in decentralized public networks because of the security the technology provides, including ensuring the integrity of the data stored in...