An Overview of Essential Blockchain Security Checklist

Blockchain technology aims to improve security by providing redundancy through the consensus of the applications it hosts. A wide range of applications can be hosted using blockchain technology.

Fremont, CA: Blockchain security is made up of several components. Each component of the blockchain serves a specific purpose, and each node must be tested to ensure that it can deliver secure implementation. Here's a quick rundown of a must-have blockchain security checklist.

Nodes

Nodes are the building blocks of blockchains. These are the critical components of the chain that keep it secure. For a transaction/information sharing to occur, there must be agreement among the nodes. They serve as a form of communication as well as redundancy. Therefore, networks with many nodes are more secure than networks with a small number of nodes.

Vulnerability Assessment

Vulnerability testing will benefit all private blockchain applications. This testing evaluates the blockchain's security and helps ensure that there are no vulnerabilities.

Redundancy Testing

This type of testing allows you to see what would happen if you removed one of the network's nodes. All nodes are critical to the blockchain, and as previously stated, the more nodes, the better. A blockchain should never rely solely on a few nodes.

Synchronization Testing

Synchronization testing allows you to determine the version of the ledger used. The most recent version should always be used for maximum security. During this testing process, the consultant will examine the entire network of nodes to determine whether or not synchronization is occurring. If it isn't, it means the hosted application is out of date.

The Consensus Algorithm is Being Tested.

A blockchain will employ an algorithm to determine whether or not the nodes have reached a consensus. This algorithm should be tested regularly. It is important to note that there are several algorithms to choose from. Each algorithm is also vulnerable to a variety of attack vectors. Testing the consensus algorithm ensures that the most correct and efficient algorithm is used.

Putting Wallets to the Test

Every node on a blockchain has its private key. These nodes can be thought of as wallets. Within them, a program is running that has access to the nodes' wallets. A private key and password are used by this program to gain access.