TY  - EJOU
AU  - Xue, Yue 
AU  - Fan, Dunqiu 
AU  - Su, Shen 
AU  - Fu, Jialu 
AU  - Hu, Ning 
AU  - Liu, Wenmao 
AU  - Tian, Zhihong 

TI  - A Review on the Security of the Ethereum-Based DeFi Ecosystem
T2  - Computer Modeling in Engineering \& Sciences

PY  - 2024
VL  - 139
IS  - 1
SN  - 1526-1506

AB  - Decentralized finance (DeFi) is a general term for a series of financial products and services. It is based on blockchain technology and has attracted people’s attention because of its open, transparent, and intermediary free. Among them, the DeFi ecosystem based on Ethereum-based blockchains attracts the most attention. However, the current decentralized financial system built on the Ethereum architecture has been exposed to many smart contract vulnerabilities during the last few years. Herein, we believe it is time to improve the understanding of the prevailing Ethereum-based DeFi ecosystem security issues. To that end, we investigate the Ethereum-based DeFi security issues: 1) inherited from the real-world financial system, which can be solved by macro-control; 2) induced by the problems of blockchain architecture, which require a better blockchain platform; 3) caused by DeFi invented applications, which should be focused on during the project development. Based on that, we further discuss the current solutions and potential directions of DeFi security. According to our research, we could provide a comprehensive vision to the research community for the improvement of Ethereum-based DeFi ecosystem security.
KW  - Blockchain; smart contract; decentralized finance; DeFi; security

DO  - 10.32604/cmes.2023.031488