Blockchain Security Products are a must to prevent Cyber Hacks

Today, several sectors are using or are about to start using blockchain technology, which has the potential to soon serve as the foundation of numerous platforms. Although initially touted as secure, blockchain-related security lapses involved the reported theft of millions of dollars. Blockchain projects have suffered more than $600 million worth of cryptocurrency in the second quarter of 2022. The correct comprehension and acceptance of security vulnerabilities and how to prevent them are crucial for effectively adopting this technology.

However, a recent study shows a severe skills gap in the present cybersecurity scene. Fewer cybersecurity experts are familiar with blockchain technology or understand the novel security dangers of the developing Web3 decentralized economy. This dilemma is especially severe in the blockchain security sector. For instance, the outcome of bitcoin trading or investing could be depositing a sizable amount of bitcoin into a virtual savings account known as a "hot wallet." These wallet accounts could not be as secure against hackers as the blockchain's actual blocks.

Several third-party providers may be enlisted to speed up blockchain transactions. Like payment processors, smart contracts, oracles, etc. The websites and apps of these third-party blockchain suppliers frequently have security flaws, which makes them vulnerable to hacking.

Blockchain projects provide unique difficulties for security experts. First and foremost, the number of people who can audit the code is reduced because many are developed in more recent coding languages, such as Solidity. The blockchain is public, which means that hackers have access to an open source database of vulnerabilities, unlike many other systems that are built to be closed off to avoid attacks.

Only someone with hands-on experience in security and practical interest in blockchain can fill this gap. Blockchain tech requires some maturity since it's in the initial stages. The technological advancements in blockchain are the driving force behind new products and solutions that are getting developed to support the ecosystem. A trusted BaaS AppSec that is scalable and supports web3 is required to overcome current security challenges and also will be useful in the web3 era.

To help blockchain companies fight against cyber threats, BlockChainSentry 's Vulnerability Management automation tool can help developers with the most advanced security functions and help them identify and remediate vulnerabilities in the blockchain space. We provide end-to-end blockchain security solutions, including vulnerability management, smart contract audits, compliance audits, penetration testing, threat intelligence, and test automation. Our Web3-based application offers scalable security solutions for blockchain applications on public and private networks. Our vulnerability management automation tool can ensure error-free codes with a faster turnaround on your blockchain applications. Our application is usable at multiple touchpoints, and it's an industry-agnostic product.?

Contact https://www.blockchainsentry.com/contact/ to get a free demo.