Implementation and Security Analysis of Cryptocurrencies Based on Ethereum
Pengfei Gao, Dechao Kong, Xiaoqi Li
TL;DR
The paper uses Ethereum as a case study to analyze Blockchain 2.0 security, focusing on architecture, token contracts, and practical risks. It catalogs attack patterns (reentrancy, delegatecall, integer overflow, randomness weaknesses) and demonstrates concrete deployment and testing practices. It emphasizes that security is not guaranteed by the blockchain itself but requires robust development practices, audits, and formal verification to support secure DeFi ecosystems.
Abstract
Blockchain technology has set off a wave of decentralization in the world since its birth. The trust system constructed by blockchain technology based on cryptography algorithm and computing power provides a practical and powerful solution to solve the trust problem in human society. In order to make more convenient use of the characteristics of blockchain and build applications on it, smart contracts appear. By defining some trigger automatic execution contracts, the application space of blockchain is expanded and the foundation for the rapid development of blockchain is laid. This is blockchain 2.0. However, the programmability of smart contracts also introduces vulnerabilities. In order to cope with the insufficient security guarantee of high-value application networks running on blockchain 2.0 and smart contracts, this article will be represented by Ethereum to introduce the technical details of understanding blockchain 2.0 and the operation principle of contract virtual machines, and explain how cryptocurrencies based on blockchain 2.0 are constructed and operated. The common security problems and solutions are also discussed. Based on relevant research and on-chain practice, this paper provides a complete and comprehensive perspective to understanding cryptocurrency technology based on blockchain 2.0 and provides a reference for building more secure cryptocurrency contracts.