Cryptography is the backbone of blockchain security, ensuring data integrity, immutability, and secure transactions. While consensus mechanisms and smart contract programming are important, hashing and cryptography directly impact the security of the blockchain.
In a 51% attack, a malicious actor gains control of the majority of a blockchain network's hash power, allowing them to manipulate the blockchain by reversing transactions or double-spending cryptocurrency.
Attack vectors like Sybil, phishing, and key management attacks target blockchain systems directly. Cloud computing latency is a performance issue and not an intentional security vulnerability.
Risk assessment helps in identifying and mitigating vulnerabilities that could compromise the integrity, confidentiality, and availability of blockchain networks.
Smart contract audits are crucial to identify potential flaws, bugs, or security loopholes in the code that could be exploited, ensuring safe execution of the smart contracts.
