Securing Blockchain Technology: A Comprehensive Analysis of Vulnerabilities and Mitigation Strategies

This paper provides a comprehensive analysis of cybersecurity vulnerabilities in blockchain technology and presents mitigation strategies to counter them. The analysis covers recent attacks and their impact on blockchain security. The paper identifies the major types of blockchain vulnerabilities, including consensus algorithm vulnerabilities and wallet vulnerabilities for cryptocurrency applications. Mitigation strategies for these vulnerabilities are discussed, such as the use of consensus algorithms with improved security, the implementation of secure coding practices, and the adoption of multi-factor authentication for wallet access. The paper also highlights the importance of community efforts and collaboration between industry players in enhancing blockchain security. The analysis and strategies presented in this paper provide valuable insights for blockchain developers, researchers, and stakeholders seeking to secure their blockchain applications against cyber threats.