Security News > 2022 > June > Pentagon finds concerning vulnerabilities on blockchain

A report commissioned by the Pentagon concluded that the blockchain is not decentralized, is vulnerable to attacks and is running outdated software.

The report, "Are Blockchains Decentralized, Unintended Centralities in Distributed Ledgers", uncovered that a subset of participants can "Exert excessive and centralized control over the entire blockchain system."

The crypto world and blockchain operations are now deeply entangled in many industries that have penciled out plans to use cryptocurrencies due to their agility, immediacy, product potential and capacity to provide easier access to financial services to the global population.

Blockchain software developers and maintainers, and millions of crypto users around the world are also being targeted in attacks, along with mainstream technology sites that are beginning to use the blockchain as a new source of income.

The new DARPA report finds big tech in a critical moment, with many top companies already heavily investing in blockchain technology.

Not only are millions of users turning to cryptos but thousands of new and old companies are now working on the blockchain.

News URL

https://www.techrepublic.com/article/pentagon-finds-concerning-vulnerabilities-on-blockchain/