How to Approach Web3 from a Security Perspective

Extending the principles of the Internet, the underlying principles of Web3 led to it becoming inherently more secure by avoiding some of the security defects of past Internet technologies. However, the Internet transition from Web version 1.0 to Web version 2.0 also introduced new security risks. Social networking threats now pose threats to online transaction systems, and consequently, websites are more vulnerable to malicious and compromised inputs.

Some of these risks emerge due to Web3 architectures interacting with other ideas. Others result from the fundamental composition of blockchain and IPFS protocols. Maintaining security will be a slow process if the protocol's in-built weaknesses are not fixed. This will happen, as it has in Web 2.0, because of network consensus that prevents quick or simple.

Here are some of the biggest security threats in Web3:

Data Confidentiality

Computer data breaches continually expose our confidential information. This threat is increased by the inclusion of content within that data. Machines scanning that data also have the potential to find records and information that they were not specifically designed to detect and include in knowledge bases. The potential for malicious use located in a remote location will increase the likelihood that they will spread information quickly.

Information quality

Web 3.0 relies on the accuracy of machine-managed data. Will the consensus include automatic checks on data, including validating that the data is accurate and vetted for disinformation? Who will make the checks, and how will they be reported? What are the qualifications and motivations of those checking data?

Hacks and Financial Exploits

As blockchain technology is one of the safest technologies available, hackers may occasionally exploit one or more cryptographic flaws. And if that happens, it is very difficult to recover the money or stolen digital assets. Although web 3.0 offers more prospects for democratization, any system glitch could result in monetary losses.

Best practices in protecting Web3 applications and infrastructure

WAF and other Web 2.0 security measures

Businesses have had more than a decade of experience countering the problems created by internet threats, many of which have been avoided by information technology officials. Although that does not lessen the severity of information security threats, it does mean that a huge array of strategies often are available to contain and shelter code, prevent code injection, block error messages, and stop cross-site scripting, among other attacks.

Web application firewalls (WAF) and application firewalls limit access to application interfaces, and bot management and API security can contain programmed applications to disrupt and engage.

Robust code auditing before deployment

No step is more critical than conducting this thorough pre-code review! This step is done to avoid security flaws that may be discovered in newly released features or products. Moreover, learning whether those unaddressed flaws were the cause of the breach may help administrators identify what aspect or feature of the product needs to be adjusted to resolve the breach in the future.

But in Web3, the process is not as simple. Internet 3.0 has added many electrons and contributors to help scale the network. However, it takes longer to implement updates with Web3. Instead of immediate rewards in Web3, the storage of physical value continues, which means the security of any information or billions in cryptocurrencies is a legitimate concern for businesses, private individuals, or even nation-states because of the myriad of uses for Web3 apps in commerce, and privacy.

API query encryption and signing

Transport Layer Security, TLS, a cryptographic protocol used to secure Web 2.0, was created to offer Web users a secure and private communications protocol. Continuous penetration of TLS on Web 3.0 will be crucial to implementing secure APIs and protecting communications between applications.