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Blockchain Penetration Testing

Secure your Blockchain Technology

Firms have recently begun to use Blockchain technology to manage distributed databases, digital transactions, cybersecurity, and healthcare in order to develop blockchain-based solutions for their customers.

While the adoption of blockchain has provided many benefits to global organisations, it has also attracted threat actors who are looking to exploit the technology and target organisations with cyberattacks.

Fuel your business with secure blockchain practices

Blockchain technology is set to transform the tech world, with skyrocketing adoption and a projected market worth of $20 billion by the end of 2024. This is the kind of attention that draws some of the most motivated attackers, regardless of skill level.

It is accurate that security is crucial to this new technology. Its key claim is to enable virtual transactions defined by data integrity.

However, this doesn’t imply that the blockchain is inherently secure. There will be points of failure in your blockchain ecosystem that will necessitate the use of technological solutions, processes, and training to mitigate.

Why Choose Gridware for a Blockchain Penetration Testing

Gridware experts can help your company identify the overall security posture of your blockchain security and fix potential flaws in your blockchain-based solutions or applications by testing for vulnerabilities.

Blockchain Penetration Testing Methodology

Examine the overall security posture of your blockchain security and resolve potential flaws in your blockchain-based solutions or applications.

1. Discovery

The first step of a penetration testing process is the discovery of the potential vulnerabilities in the system. The blockchain architecture is analysed to ensure capability and compliance to preserve confidentiality and storage of data.

2. Evaluation

The evaluation and analysis of the information gained in the discovery step. The evaluation will help you determine which vulnerability or loophole can put your blockchain application at risk, using both network penetration testing and Blockchain integrity testing.

3. Reporting

Gridware's detailed pentesting report makes it easier for cyber security experts to employ necessary security practices while keeping in mind the found loopholes.

4. Remediation

The last step in blockchain penetration testing is to remediate the vulnerabilities reported by the security experts and request for a retesting.

Benefits of Blockchain Security and Compliance

Avoid security and business crises with 24/7 hour support

Improve security risk awareness and understanding in blockchain-based technology.

Identify the underlying threats and risks in your ecosystem.

Promote best practice information security culture in your company

Identify security risks, and patch them before being compromised.

Findings are organised by their risk factor and coupled with easy-to-understand requirements for you and your stakeholders to apply efficiently.

Blockchain Penetration Testing FAQs

What is blockchain technology?

A blockchain is a decentralised ledger that records all transactions that take place on a peer-to-peer network. Participants can confirm transactions using this technology without the need for a central clearing authority. Potential applications include fund transfers, trade settlement, voting, and others.

What are the risks associated with blockchain implementation?

Since their beginnings, blockchains have been widely marketed as “secure, dependable, and immutable.” These implied benefits are not without merit—blockchain uses asymmetric keys to encrypt and decrypt content, ensuring high levels of authentication and nonrepudiation.

However, hackers continue to steal billions by exploiting common flaws such as a lack of multi-signature, low-security hot wallets, poor input validation, insider threat issues, among other vulnerabilities.

Why is blockchain Penetration Testing important?

A penetration test can help in the development of a stronger security posture as well as the detection of potential flaws that may have remained hidden in the past.

While many blockchain companies place a high value on security, each vulnerability must be thoroughly examined.

Gridware uses an on-demand, personalised approach to meet your system’s specific security needs.

We understand that penetration testing isn’t a one-size-fits-all solution, which is why our pen testing is carried out by security experts with years of experience securing blockchains, cryptocurrencies, and centralised and decentralised apps.

Why should a blockchain penetration test be conducted by an external provider?

Cloud security audits should be conducted by an external service provider to maintain zero bias throughout the penetration testing process. It also ensures that the audit is run independently from the business by technical experts who are familiar with the latest developments in blockchain technology.

Customer Stories

Gridware has acted for hundreds of companies and helped them recover from potentially disastrous situations. Read about how our services have helped others: