Security Risks and Best Practices for Blockchain and Smart Contracts: A Systematic Literature Review

Semi Yulianto; Harco Leslie Hendric Spits Warnars; Harjanto Prabowo; Meyliana; Achmad Nizar Hidayanto

doi:10.1109/ICIMTech59029.2023.10278055

Security Risks and Best Practices for Blockchain and Smart Contracts: A Systematic Literature Review

Semi Yulianto, Harco Leslie Hendric Spits Warnars, Harjanto Prabowo, Meyliana, Achmad Nizar Hidayanto

Department of Computer Science

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

The rise of blockchain technology and smart contracts has brought widespread attention due to their capacity to transform multiple industrial sectors through decentralized, transparent, secure transactions. However, despite their promise to revolutionize various fields worldwide, lingering concerns regarding security risks impede their adoption rate. Addressing these concerns is crucial now more than ever; therefore, we conducted a comprehensive literature review within our study's scope that focused on published papers between 2014-2023 centered around security risks concerning blockchain and smart contracts. Our systematic approach using the PRISMA checklist analyzed nine categorized research model-based primary studies while recognizing vulnerabilities in smart contract development and providing best practices to mitigate such issues. These findings benefit both researchers and practitioners as they showcase how acknowledging these vulnerabilities can further develop into exploring more significant aspects of blockchain technology's security issues and smart contract development processes. Our study contributes significantly by expanding knowledge in this field while providing novel insights valuable for individuals involved in designing or implementing blockchain technologies.

Original language	English
Title of host publication	Proceedings of 2023 International Conference on Information Management and Technology, ICIMTech 2023
Publisher	Institute of Electrical and Electronics Engineers Inc.
Pages	282-287
Number of pages	6
ISBN (Electronic)	9798350326093
DOIs	https://doi.org/10.1109/ICIMTech59029.2023.10278055
Publication status	Published - 2023
Event	8th International Conference on Information Management and Technology, ICIMTech 2023 - Malang, Indonesia Duration: 24 Aug 2023 → 25 Aug 2023

Publication series

Name	Proceedings of 2023 International Conference on Information Management and Technology, ICIMTech 2023

Conference

Conference	8th International Conference on Information Management and Technology, ICIMTech 2023
Country/Territory	Indonesia
City	Malang
Period	24/08/23 → 25/08/23

Keywords

blockchain
security risks
smart contracts
standardization
vulnerabilities

Access to Document

10.1109/ICIMTech59029.2023.10278055

Cite this

Yulianto, S., Hendric Spits Warnars, H. L., Prabowo, H., Meyliana, & Hidayanto, A. N. (2023). Security Risks and Best Practices for Blockchain and Smart Contracts: A Systematic Literature Review. In Proceedings of 2023 International Conference on Information Management and Technology, ICIMTech 2023 (pp. 282-287). (Proceedings of 2023 International Conference on Information Management and Technology, ICIMTech 2023). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/ICIMTech59029.2023.10278055

Yulianto, Semi ; Hendric Spits Warnars, Harco Leslie ; Prabowo, Harjanto et al. / Security Risks and Best Practices for Blockchain and Smart Contracts : A Systematic Literature Review. Proceedings of 2023 International Conference on Information Management and Technology, ICIMTech 2023. Institute of Electrical and Electronics Engineers Inc., 2023. pp. 282-287 (Proceedings of 2023 International Conference on Information Management and Technology, ICIMTech 2023).

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title = "Security Risks and Best Practices for Blockchain and Smart Contracts: A Systematic Literature Review",

abstract = "The rise of blockchain technology and smart contracts has brought widespread attention due to their capacity to transform multiple industrial sectors through decentralized, transparent, secure transactions. However, despite their promise to revolutionize various fields worldwide, lingering concerns regarding security risks impede their adoption rate. Addressing these concerns is crucial now more than ever; therefore, we conducted a comprehensive literature review within our study's scope that focused on published papers between 2014-2023 centered around security risks concerning blockchain and smart contracts. Our systematic approach using the PRISMA checklist analyzed nine categorized research model-based primary studies while recognizing vulnerabilities in smart contract development and providing best practices to mitigate such issues. These findings benefit both researchers and practitioners as they showcase how acknowledging these vulnerabilities can further develop into exploring more significant aspects of blockchain technology's security issues and smart contract development processes. Our study contributes significantly by expanding knowledge in this field while providing novel insights valuable for individuals involved in designing or implementing blockchain technologies.",

keywords = "blockchain, security risks, smart contracts, standardization, vulnerabilities",

author = "Semi Yulianto and {Hendric Spits Warnars}, {Harco Leslie} and Harjanto Prabowo and Meyliana and Hidayanto, {Achmad Nizar}",

note = "Publisher Copyright: {\textcopyright} 2023 IEEE.; 8th International Conference on Information Management and Technology, ICIMTech 2023 ; Conference date: 24-08-2023 Through 25-08-2023",

year = "2023",

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series = "Proceedings of 2023 International Conference on Information Management and Technology, ICIMTech 2023",

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Yulianto, S, Hendric Spits Warnars, HL, Prabowo, H, Meyliana, & Hidayanto, AN 2023, Security Risks and Best Practices for Blockchain and Smart Contracts: A Systematic Literature Review. in Proceedings of 2023 International Conference on Information Management and Technology, ICIMTech 2023. Proceedings of 2023 International Conference on Information Management and Technology, ICIMTech 2023, Institute of Electrical and Electronics Engineers Inc., pp. 282-287, 8th International Conference on Information Management and Technology, ICIMTech 2023, Malang, Indonesia, 24/08/23. https://doi.org/10.1109/ICIMTech59029.2023.10278055

Security Risks and Best Practices for Blockchain and Smart Contracts: A Systematic Literature Review. / Yulianto, Semi; Hendric Spits Warnars, Harco Leslie; Prabowo, Harjanto et al.
Proceedings of 2023 International Conference on Information Management and Technology, ICIMTech 2023. Institute of Electrical and Electronics Engineers Inc., 2023. p. 282-287 (Proceedings of 2023 International Conference on Information Management and Technology, ICIMTech 2023).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AU - Meyliana,

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AB - The rise of blockchain technology and smart contracts has brought widespread attention due to their capacity to transform multiple industrial sectors through decentralized, transparent, secure transactions. However, despite their promise to revolutionize various fields worldwide, lingering concerns regarding security risks impede their adoption rate. Addressing these concerns is crucial now more than ever; therefore, we conducted a comprehensive literature review within our study's scope that focused on published papers between 2014-2023 centered around security risks concerning blockchain and smart contracts. Our systematic approach using the PRISMA checklist analyzed nine categorized research model-based primary studies while recognizing vulnerabilities in smart contract development and providing best practices to mitigate such issues. These findings benefit both researchers and practitioners as they showcase how acknowledging these vulnerabilities can further develop into exploring more significant aspects of blockchain technology's security issues and smart contract development processes. Our study contributes significantly by expanding knowledge in this field while providing novel insights valuable for individuals involved in designing or implementing blockchain technologies.

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Yulianto S, Hendric Spits Warnars HL, Prabowo H, Meyliana , Hidayanto AN. Security Risks and Best Practices for Blockchain and Smart Contracts: A Systematic Literature Review. In Proceedings of 2023 International Conference on Information Management and Technology, ICIMTech 2023. Institute of Electrical and Electronics Engineers Inc. 2023. p. 282-287. (Proceedings of 2023 International Conference on Information Management and Technology, ICIMTech 2023). doi: 10.1109/ICIMTech59029.2023.10278055

Security Risks and Best Practices for Blockchain and Smart Contracts: A Systematic Literature Review

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