How AI can advance the blockchain security segment

When you think about blockchain security, there are probably two things that come to your mind: cryptography and smart contract audits. Well, these aspects are only the surface of a huge layer that secures funds in the blockchain industry. Blockchain security has so many layers and components and certainly cannot be narrowed down to smart contract protection solely.

The foundation level of blockchain security is provided by blockchain itself on its consensus layer, where you can be sure that your money will not be double-spent and that your transaction will always be executed. This is ensured with appropriate software like blockchain nodes and clients (including light-client wallets like Metamask). But, we see a lot of cases of front-running, manipulation of mempools via flashbots, privately mined transactions.

Additionally, there are attacks targeted at software itself and the user. Hackers attack software DNS, perform direct attacks on websites and protocols’infrastructure (the whole range of common cyber attacks). They also target individual users by fishing and social engineering attempts. Most of these attacks are aimed at gaining access to private keys which we have covered in a previous article about crypto wallet hacks. Sure thing, the blockchain ecosystem also has the infrastructure level of security, where engineers protect software, cloud services, wallets and communication between users and nodes.

While dev teams do their best, there still appear a myriad of attacks directed on smart contracts which are running over the blockchain. To minimise threats, we use trackers and flash-bot resistance, have insurance and hedging protocols, have a lot of security engineers who develop safe smart contracts offering…

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