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Are blockchains immune to all malicious attacks?
Open accessAbstract
In recent years, blockchain technology has attracted considerable attention. It records cryptographic transactions in a public ledger that is difficult to alter and compromise because of the distributed consensus. As a result, blockchain is believed to resist fraud and hacking. This work explores the types of fraud and malicious activities that can be prevented by blockchain technology and identifies attacks to which blockchain remains vulnerable. This study recommends appropriate defensive measures and calls for further research into the techniques for fighting malicious activities related to blockchains.
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“First, there is vulnerability around the blockchain system. Although blockchain technology is tamper-resistant, the implementation around it can be attacked. Poorly maintained and outdated codes allowed vulnerability in an incident involving a decentralized autonomous organization [42].”
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How Blockchain Is Transforming Accounting, Auditing and Finance: A Systematic Review
Singh, M., Joshi, M., Sharma, S. C., & Rana, T. (2023) · Springer eBooks · doi:10.1007/978-981-19-4460-4_23 · Cited by 15
Metadata
- Authors
- Xu, J. J.
- Affiliations
- Bentley University (US)
- Corresponding author
- Xu, Jennifer J.
- ORCID
- Xu, Jennifer J.
- Venue
- Financial Innovation
- Published
- 2016-12
- Volume
- 2
- Issue
- 1
- ISSN
- 2199-4730 (ISSN-L)
- OpenAlex
- W2559837735
- Cited by
- 221
- References
- 15
- Citations by year
- 2026: 5 · 2025: 16 · 2024: 17 · 2023: 39 · 2022: 31 · 2021: 27 · 2020: 31 · 2019: 32 · 2018: 18 · 2017: 4 · 2016: 1
- FWCI
- 40.92
- Type
- journal article
- Language
- en
- Open access
- diamond
- doi.org
- Locations
- Financial Innovation (publishedVersion, cc-by)
- RePEc: Research Papers in Economics (submittedVersion)
- Econstor (Econstor) (submittedVersion, cc-by)
- Topics
- Physical Sciences › Computer Science › Information Systems › Blockchain Technology Applications and Security
- Physical Sciences › Computer Science › Information Systems › Blockchain Technology in Education and Learning
- Physical Sciences › Computer Science › Computer Networks and Communications › Cryptography and Data Security
- Keywords
- blockchain security, blockchain attacks, fraud prevention, malicious activity, distributed consensus, public ledger, defensive measures
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