Blockchain security is a risk management system that aims to secure transactions and the entire blockchain network. Blockchain technology is based on principles of cryptography, decentralization, and consensus, which ensure trust in transactions. Blockchain technology creates a distributed ledger of transactions that uses cryptography to safeguard its integrity. Each new block of information connects to all the previous blocks in a way that its nearly impossible to tamper with. However, blockchain networks are not immune to cyberattacks and fraud. Hackers can manipulate known vulnerabilities in blockchain infrastructure and have succeeded in various hacks and frauds over the years. Therefore, it is important to consider security at all layers of the technology stack when building an enterprise blockchain application. A comprehensive security strategy for an enterprise blockchain solution includes using traditional security controls and technology-unique controls. Some of the security controls specific to enterprise blockchain solutions include cybersecurity frameworks, security testing methodologies, and secure coding practices. Blockchain security is about understanding blockchain network risks and managing them. A blockchain security model is created to ensure that all measures are in place to adequately protect the blockchain solution.

In summary, blockchain security is a comprehensive risk management procedure achieved via the implementation of cybersecurity frameworks, security testing methodologies, and secure coding practices to protect a blockchain solution. It is important to consider security at all layers of the technology stack when building an enterprise blockchain application, and a comprehensive security strategy for an enterprise blockchain solution includes using traditional security controls and technology-unique controls.