Book Image

Mastering Blockchain - Fourth Edition

By : Imran Bashir
5 (3)
Book Image

Mastering Blockchain - Fourth Edition

5 (3)
By: Imran Bashir

Overview of this book

Blockchain is the backbone of cryptocurrencies, it has had a massive impact in many sectors, including finance, supply chains, healthcare, government, and media. It’s also being used for cutting edge technologies such as AI and IoT. This new edition is thoroughly revised to offer a practical approach to using Ethereum, Hyperledger, Fabric, and Corda with step-by-step tutorials and real-world use-cases to help you understand everything you need to know about blockchain development and implementation. With new chapters on Decentralized Finance and solving privacy, identity, and security issues, as well as bonus online content exploring alternative blockchains, this is an unmissable read for everyone who wants to gain a deep understanding of blockchain. The book doesn’t shy away from advanced topics and practical expertise, such as decentralized application (DApp) development using smart contracts and oracles, and emerging trends in the blockchain space. Throughout the book, you’ll explore blockchain solutions beyond cryptocurrencies, such as the IoT with blockchain, enterprise blockchains, and tokenization, and gain insight into the future scope of this fascinating and disruptive technology. By the end of this blockchain book, you will have gained a thorough comprehension of the various facets of blockchain and understand the potential of this technology in diverse real-world scenarios.
Table of Contents (24 chapters)
23
Index

Security

Blockchains are generally secure and make use of asymmetric and symmetric cryptography, as required throughout the blockchain network, to ensure that the core layer of the blockchain is secure. However, there are still a few caveats that can result in the security of the blockchain being compromised.

There have been many high-profile successful attacks on the blockchain ecosystem over the years. Some were outright malicious, and some were accidental; however, they all resulted in significant losses. Some examples include:

  • The attack on Binance Smart Chain, which occurred on October 6, 2022. The hackers infiltrated the BNB cross-chain bridge Token Hub where they were able to mint fraudulent BNB tokens, through fake withdrawal proofs. Initially, the estimated damage was 566 million USD.
  • In August 2021, the Poly Network theft, which resulted in 610 million USD being stolen. This attack exploited a vulnerability that occurred due to mismanaged access rights...