Blockchain is one the most advance technology in the world providing the one of the fastest, secured and hassle-free platform. The database on Blockchain contains the information about the batch of Bitcoin network transactions, to verify the validity of the information and generate the next block.
However, despite such security features, there are various loopholes there are Blockchain security issues and risks users face or creating the problem of the cryptocurrency investors. So, right here we brought the Blockchain security issues and challenges users face with right solution to contact Blockchain number.
5 Blockchain Security Issues and Challenges
More than 51% Attacks
Yes, this one the most challenging security issue for the Blockchain users, as more than half of them are attacked. But such unauthorized transactions can be reversed and caused double-spends by gaining majority control of a blockchain’s hashrate via malicious entities.
In order to prevent 51% attack, being vigilant of mining pools, using higher hashrate, and avoiding using Proof-of-Work (PoW) consensus mechanism can be the measures to take.
Hacking of Exchanges
Apart from individual users Blockchain account, exchanges are also at risk of getting hacked by the hackers. Around $900 million are lost due to hacking and hackers also have large crypto holdings without sufficient security protection.
Outdated technologies or incapable security system at crypto exchanges are the leading causes of hacking. And prevent hacking it is safer to store funds via hardware or paper wallet as it can utilize minimal online touchpoints to protect money away from malicious online hackers.
Further, decentralized exchange (DEX) is a good tool to use in regular trading because it helps on trading directly from cryptocurrency wallet keeping your account safe from hackers.
In cryptocurrency world, Cryptojacking is the type of malware affecting the Blockchain based transactions like cryptocurrency. Simply put, cryptojacking is the unauthorized and often unnoticeable takeover of a computer’s resources to mine cryptocurrency.
Though cryptojackers don’t directly steal money from their victims, the malware they inject causes performance issues, increases electricity usage, and opens the door for other hostile code.
To prevent the Blockchain and cryptocurrency systems being more cautious and using the additional layer of security is more important to avoid the malware attacks. System need to be checked if you have any mysterious programs running through the task manager and run regular security checks to ensure that it hasn’t been injected with malware if you operate a website.
Unexpected Error in Software
Software running on Blockchain need to regularly checked, tested, updated or upgraded to avoid unexpected errors causing huge loss to Blockchain industry. There is estimated loss of $24 million last year in Blockchain industry due software related issue.
Hence, to prevent such software flaws, it is necessary to check if it has been audited for any flaws or loopholes by a third party while using Blockchain-based software. Further using the latest and more secured software is also very important to avoid the technical glitches due to software.
Cheating people socially is another risk and one of the major challenge in the Blockchain industry making users at risk. Yes, social engineering is active through various ways, but the goal is always the same: to obtain your private keys, login information, or more directly, your cryptocurrency.
Phishing is one of the most common forms of social engineering. In a phishing crack, mail is sent to targeted user containing a malicious file with the message, or even sets up a website or social media account imitating a company brand you trust.
In most of such acts they’ll ask that you send over your credentials under the guise of a giveaway or critical issue to force a sense of urgency. If you share your financial information, there is high chances your bank account will be wiped out left you into major financial crises.
To prevent such social engineering attacks, it is necessary to make sure you never send anyone your login credentials or private keys. Besides, you should not trust on any mails or messages containing such lucrative offers or sounds too good and make you into trouble.
Call Blockchain Customer Support Number for Technical Issues
Apart from few above discussed issues, if you face any kind of technical problem, you can call at Blockchain customer support number and get quick and assured online assistance by experts. The Blockchain expert will assist you and solve all types of problems affecting Blockchain account related various issues. These online technicians will also help you in solving the cryptocurrency related various issues while ensuring safety of your account with complete privacy and confidentiality.