With the rapid development and expansion of the Web3 ecosystem, a growing number of cybersecurity concerns emerge; the architecture of the internet experiences continuous change, presenting both opportunities and cybersecurity risks that organizations need to address. The shift in internet architecture towards Web3 entails a data-based web in which not only human agents are able to access, aiming towards a decentralized and trustless system. machine agents are ingrained within the web3 ecosystem, with the ability to access and process the data ecosystem. With Web3 turning everything on the web into a massive database accessible to both human and AI agents, a number of security concerns arise. This paper aims to discuss the necessity for Web3 cybersecurity solutions through an examination of analytics on the growth of the blockchain industry.
Shifting towards Web3
The current prevailing model of the internet, known as “web2”, entails centralized systems where data from interactions from users are stored and controlled by a number of tech giants. With a complete monopoly on users' data, large companies amass vast proportions of wealth by commodifying data as a factor of production. Users rely on intermediaries to access and interact with information As such, in the internet's current architecture, the users' data is no longer their own; it becomes the property of the large companies providing their services online. It is to no surprise that in recent times this system has become a growing cause of concern. Users are realizing that they....
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