Evaluation of Security Risks and Countermeasures in Blockchain Generations 1.0, 2.0, and 3.0

Abstract

The growing use of Blockchain technology across several industries emphasizes how important a role it plays in streamlining vital business processes. Ethereum and Hyperledger Fabric are prominent frameworks utilizing complex middleware for executing smart contracts that define collaborative application logic. Maintaining safety standards across many Blockchain generations depends on the detection and mitigation of vulnerabilities and dangers in Blockchain systems. Testing Blockchain applications serves to ensure superior quality, comprehensive test coverage, and risk mitigation particularly when considering inadequate insights during the software development lifecycle. The paper introduces a novel taxonomy of attacks targeting various Blockchain generations and assesses multiple static analysis tools tailored for Ethereum and Hyperledger Fabric. Two quantitative analyses are conducted, evaluating the tools' performance in detecting vulnerabilities within Blockchain 2.0 and chain code vulnerabilities within Blockchain 3.0. This comprehensive investigation significantly contributes to the research community's understanding of distinct Blockchain generations.