The Effects Of Random Number Attack On The Blockchain Technology

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INTRODUCTION

With the introduction of the blockchain technology has led to the creation and introduction of equally advanced various digital attacks and one of these attack is the random number attack, the random number attack is a type of digital attack that targets or aims to compromise the algorithms and mechanisms in cryptographic systems and in blockchain networks that is tasked with generating random numbers.

Attackers have mastered the act of determining the weaknesses in blockchain technology protocols and mechanisms and waiting for the perfect opportunities to take advantage and exploit these weaknesses in this case in random number generation mechanisms, this attack involves predicting and manipulating the resulting numbers and as a result compromising the security and integrity of the blockchain network.

The random number attacks can be launched using many different operating techniques with each of them having significantly devastating consequences, in this post of mine I am going to be discussing and explaining some of the significantly devastating effects that the random number attack has or imposes on blockchain networks and the cryptographic system.

• COMPROMISING PRIVATE KEYS

One of the effects of the random number attack, the first for this post is that it compromises the networks private key this effect can have very drastic consequences in the blockchain network, and how it is propagated is by the attacker predicting the random numbers and therefore gaining access to carryout transactions with the users private key.

The attacker is able to do this because the random numbers or nonce is a basic and fundamental tool used in creating private keys and if the attacker is able to predict the random number that first of all eliminates the randomness and therefore giving the attacker the opportunity to determine the private key and have access to users accounts and wallets and lead to very serious financial losses

• MANIPULATION AND TAMPERING WITH TRANSACTIONS

Manipulating and tampering with transactions is another significant effect of the random number attack on the blockchain network, the attackers take advantage of the fact that the random numbers are used to generate hashes for transaction which is basically used for verifying the integrity of transactions then making them able to alter, tamper with and manipulate transactions.

This transaction can be in the form of changing the transaction details of the sender, receiver, or amount of cryptocurrency of funds transferred, additionally the attackers who propagate the random number attack can also facilitate double spending attacks and basically lead to significant financial losses seeing as they create fake transactions and spend the same cryptocurrency more than once

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Therefore to prevent this devastating effects in blockchain networks, developers should use and employ more secure and advanced algorithms and mechanisms for generating random numbers, the blockchain networks should also implement and apply additional security measures, such as the transaction verification and validation mechanisms that helps yo ensure the integrity of transactions.

• SMART CONTRACT VULNERABILITY

Another significant effect of the random number attack is that it makes and causes the smart contract of blockchain networks to be vulnerable to being compromised and manipulated and this is as a result of the fact that smart contracts depend and rely on the randomness of the blockchain network and on the algorithms and mechanisms the create and generate random numbers.

Additionally, when the attacker compromises the smart contract and is able to manipulate the different tasks the smart contracts are responsible for in the blockchain and this will most definitely result in disruptions of operations, data breach and significant financial losses.

However, to mitigate and fight this risk of random number attack, developers of smart contracts and blockchain networks must use and implement robust and advance security measures, some of which may include regular security update and input validation and testing etc, so as to ensure the integrity and reliability of smart contracts is ensured and potential security risks and vulnerabilities are addressed before time.

• DESTROYS USERS TRUST

Another inevitable and unavoidable effect of the random number attack or any form of digital and cryptographic attack is that it destroys the trust that users have in the blockchain network and this can be a very devastating and somehow lasting or permanent effect because basically when the attacker compromises and is able to predict the random numbers they can cause effects that affect the users of the network.

Additionally, the random number attack if successfully launched and executed will undermine the integrity of the blockchain network and diminish the reputation of the blockchain network and this will have other significant effects like a decline in users adoption either individual or institutional as well as in investment, and even the overall performance of the blockchain network.

CONCLUSION

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To round everything all up I would like to make my appreciation known by saying a very big thank to everyone of my fellow steemians who have generously made the effort to read and go through this post which I have made, and I hope that you were able to learn something new as I have explained and discussed the effects of the random number attack.