A Comprehensive Study on Intrusion Detection System for Distributed Blockchain Ledger Security with Using Advanced Smart Contracts

The potential of blockchain technology to transform several industries, including supply chains, health care, and banking, has drawn much interest in recent years. Blockchain is becoming widely used, but this has raised questions about its security and ability to withstand attacks and threats. An overview of blockchain security issues and risk-reduction strategies is given in this abstract. The decentralized and unchangeable character of blockchain, which is accomplished through the application of cryptographic algorithms and consensus processes, is its primary security feature. However, it remains susceptible to security flaws such as 51% assaults, smart contract glitches, and compromised private keys. This abstract investigates these flaws and how they might affect the security and integrity of blockchain data. Several strategies have been put out and put into practice to increase blockchain security. The abstract looks at how important it is to set best practices and standards to protect blockchain networks from malicious activity and unauthorized access. Security issues will arise as the blockchain ecosystem develops, requiring constant study and cooperation between government, business, and academia. The appeal for a coordinated effort to address blockchain security issues in their entirety and guarantee the technology’s safe and dependable use across a range of applications and sectors is made in the abstract’s conclusion.