What is Security in blockchain ? with Example

What is Security in blockchain ? with Example 

Now let’s look at the most important factor, security. Without it, blockchains would be rendered utterly useless, as anyone would be able to disrupt and change ledgers. 

This is not the case in the majority of blockchain networks, as practically every developer includes principles that prevent 51% of assaults.

The fact that decentralized technology is open-source is the number one reason why blockchains are less safe than centralized databases. 

Because of this, any hacker can read the code; he can spend countless hours trying to figure out what kind of vulnerability he can use and much more.

Exploits are extremely rare, particularly in the Bitcoin network. Other blockchains are more vulnerable due to their use of smart contracts. 

Flash loans, a specific sort of collateral-less loan used in the DeFi industry, could have been the quickest way to hack any project in 2021.

In some ways, security and scalability work in opposition to each other. 

While scalability aims to expand the system even further, security aims to keep the network stable and functional at all times.

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