Security analysis of blockchain applications

Innovations in the world of digital technologies outstrip the information security market. The representative of the company BugBounty.Center ⎼ a platform for security audit ⎼ Grigory Vasilkov analyzed the main security risks for the blockchain companies. These include incorrect economic application models, the difficulty of predicting external factors, the inadequate use of smart-contracts, transaction costs, the use of unverified data, dependence on third parties, and manipulation of transaction execution. The analysis suggests methods for solving problems based on changing strategies, preparing algorithms, and optimizing costs.

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