Skip to content
Research Article Open access CC BY 4.0

Revisiting Blockchain Technologies and Smart Contracts Security: A Pragmatic Exploration of Vulnerabilities, Threats, and Challenges

Silas Mutie Nzuva

Asian Journal of Research in Computer Science · pp. 11–30 · Published 14 Jun 2024

10.9734/ajrcos/2024/v17i7474

Abstract

Aim: This study aims to offer a comprehensive examination of the security vulnerabilities associated with blockchain technology, with the aim of identifying critical challenges and formulating strategic solutions to bolster system integrity and enhance user trust. Methods: The study employs a combination of literature review and case study analysis to explore specific vulnerabilities such as re-entrance attacks, transaction malleability, and the risks associated with third-party integrations. Various recommendations are offered to address the outlined vulnerabilities in blockchains and smart contacts. Conclusion: Securing blockchain platforms against emerging threats requires a multidisciplinary approach that encompasses technological innovation, stringent regulatory oversight, and comprehensive user education. It advocates for ongoing research and collaborative efforts to develop robust security measures that ensure the sustainable integration of blockchain technology into global digital infrastructures, thereby maximizing its transformative potential while minimizing associated risks. Enhancing the understanding of blockchain's security needs and continuously adapting to emerging threats are crucial for the technology’s future resilience and widespread adoption.

Blockchain smart contracts cryptocurrency decentralization immutable record distributed ledger

References (47)

  1. 1 IoT security: Review, blockchain solutions, and open challenges [DOI]
  2. 2 A survey on the security of blockchain systems [DOI]
  3. 3 Blockchain challenges and opportunities: a survey [DOI]
  4. 4 How blockchain technologies impact your business model [DOI]
  5. 5 A survey on blockchain technology and its security [DOI]
  6. 6 A Survey on Blockchain Technology: Evolution, Architecture and Security [DOI]
  7. 7 A survey of blockchain consensus algorithms performance evaluation criteria [DOI]
  8. 8 The benefits and threats of blockchain technology in healthcare: A scoping review [DOI]
  9. 9 A survey on security and privacy issues of blockchain technology [DOI]
  10. 10 Exploring the Attack Surface of Blockchain: A Comprehensive Survey [DOI]
  11. 11 A Survey on Zero-Knowledge Proof in Blockchain [DOI]
  12. 12 Blockchain Technology: Security Issues, Healthcare Applications, Challenges and Future Trends [DOI]
  13. 13 Anomaly Detection in Blockchain Networks: A Comprehensive Survey [DOI]
  14. 14 Opportunities and Risks of Blockchain Technologies: A Research Agenda [DOI]
  15. 15 Smart contracts vulnerabilities: a call for blockchain software engineering? [DOI]
  16. 16 Security of Cryptocurrencies in blockchain technology: State-of-art, challenges and future prospects [DOI]
  17. 17 A Survey of Blockchain: Techniques, Applications, and Challenges [DOI]
  18. 18 Untangling blockchain technology: A survey on state of the art, security threats, privacy services, applications and future research directions [DOI]
  19. 19 A survey on blockchain cybersecurity vulnerabilities and possible countermeasures [DOI]
  20. 20 Blockchain adoption is inevitable—Barriers and risks remain [DOI]
  21. 21 On the Security Risks of the Blockchain [DOI]
  22. 22 Detection of Vulnerabilities of Blockchain Smart Contracts [DOI]
  23. 23 Security Vulnerabilities in Ethereum Smart Contracts [DOI]
  24. 24 Detecting Blockchain Security Threats [DOI]
  25. 25 Blockchain security risk assessment and the auditor [DOI]
  26. 26 Review of Blockchain Technology Vulnerabilities and Blockchain-System Attacks [DOI]
  27. 27 Smart Contracts Implementation, Applications, Benefits, and Limitations [DOI]
  28. 28 A survey of security threats and defense on Blockchain [DOI]
  29. 29 Corking by Forking: Vulnerability Analysis of Blockchain [DOI]
  30. 30 Automation and smart materials in detecting smart contracts vulnerabilities in Blockchain using deep learning [DOI]
  31. 31 Alice in Blockchains: Surprising Security Pitfalls in PoW and PoS Blockchain Systems [DOI]
  32. 32 The risks of Blockchain: A Review on Current Vulnerabilities and Attacks
  33. 33 Blockchain Vulnerabilities in Practice [DOI]
  34. 34 Risk Assessment of Blockchain Technology [DOI]
  35. 35 An empirical study of blockchain system vulnerabilities: modules, types, and patterns [DOI]
  36. 36 Blockchain: Can It Be Trusted? [DOI]
  37. 37 A Survey on Privacy Vulnerabilities in Permissionless Blockchains [DOI]
  38. 38 A Structured Overview of Attacks on Blockchain Systems
  39. 39 Detecting Vulnerabilities in Smart Contract within Blockchain: A Review and Comparative Analysis of Key Approaches [DOI]
  40. 40 Security Issues and Vulnerabilities On A Blockchain System: A Review [DOI]
  41. 41 Security Issues in the Blockchain(ed) World [DOI]
  42. 42 Blockchains and Internet of Things for the Pooling of Warehouse Resources [DOI]
  43. 43 Review of Modern Vulnerabilities in Blockchain Systems [DOI]
  44. 44 COMPARISON OF HARDWARE AND DIGITAL CRYPTO WALLETS [DOI]
  45. 45 The Implementation and Impact of Blockchain Technology in the Finance and Trade Sector of Economy of the Developing World [DOI]
  46. 46 Application of Blockchain Smart Contracts in E-Commerce and Government [DOI]
  47. 47 Impact of Design Patterns on Code Quality in Blockchain-based Applications

Cited by 14

Integrating smart contracts with Islamic economic law: A Sharia design framework for digital finance governance

H. Hasanuddin, Abdul Malik, Hana Tuo · Journal of Islamic Economics Lariba · 2026

Investigating the Factors That Impact the Adoption of Blockchain in Tertiary Institutions

Katlego Kelvin Melamu, K. Gorejena, Moleboge Emma Nhlapo · 2025 5th International Multidisciplinary Information Technology and Engineering Conference (IMITEC) · 2025

Blockchain-Based Accountability: A Systematic Literature Review

Nabeel Z. Tawfeeq, Dujan B. Taha · Mesopotamian Journal of CyberSecurity · 2025

Automated Judging of LLM-based Smart Contract Security Auditors

Viraaji Mothukuri, R. Parizi · International Conference on Blockchain · 2025

Balancing Stability and Flexibility: The Effects of Blockchain Adoption on Supply Chain Resilience

Haidi Zhou, Qiang Wang, Xiande Zhao · International Journal of Production Economics · 2025

Blockchain-enhanced electoral integrity: a robust model for secure digital voting systems in Oman

A. Shaikh, Naresh Adhikari, Amril Nazir · F1000Research · 2025

Rethinking Blockchain for IoT

G. Gandal, Kalyani Sagar Bhilare, M. S. Wavare · Panamerican Mathematical Journal · 2025

Showing 7 of 14 known citations — external sources report more than can currently be individually listed.

Related research

Article metrics

Real usage data collected on this platform.

48

Page views

0

PDF downloads

6

Outbound clicks

14

Citations

Views over time

Views by country

Approximate, from request IP at view time — not citizenship or institution. Countries with fewer than 5 views are grouped as "Other".

Traffic sources

Referring site, by host.

Views and downloads exclude known bots/crawlers. Citations combines this platform's own DOI-resolved index with each external source's own reported total — see Cited by above for individually listed citing works. Last refreshed 0 seconds ago.