Attacks on Blockchains can harm users and providers. Cryptocurrencies have already been subjected to high-value attacks, with an estimated $3.8bn in total lost in 2022. Now, businesses are adopting Blockchain in broader applications including tracking goods provenance and healthcare-data management. Compromise could lead to a wide range of harms. The adoption of Blockchain by businesses therefore necessitates a robust cybersecurity strategy that includes not only protective measures, but also the ability to detect and respond to attack. Currently, however, Blockchains are often adopted with little or no tooling for attack-detection and response.
BlockHawk is an attack-detection software for Blockchain. We use Machine-Learning and rule-based algorithms to detect indicators of external attacks or misbehaviours by peers. We recognise that understanding Blockchain security is complex and specialised. Our focus is therefore on presenting users with information about potential attacks and their consequences in a way that is comprehensible and actionable. The monitoring approach is based on a logic developed by the founding team at Oxford University.
For businesses using Blockchain, this technology offers risk-reduction and compliance benefits.
For Blockchain application providers, it offers the potential benefit of increasing clients’ trust in the security of the Blockchain offering.
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