Ask about Crypto Biggest security risks of Web3 (Understanding Web3 and its security implications by Cloudflare)

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The biggest security risks of Web3​

While the underlying principles of Web3 make it more secure than Web 2.0 in some respects, like any technology it introduces its share of security risks. Some of the security gaps come from the way Web3 and Web 2.0 architectures interact; others are inherent to how protocols like blockchain and IPFS function. And Web3's reliance on network consensus can make patching these and other flaws a slow process.

Some of the main security risks include:

• Lack of encryption and verification for API queries
• Smart contracts hacking
• Privacy concerns for decentralized data storage
• Account theft and mobile wallet theft
• Protocol and bridge attacks
• Slow updates
• Typical Web 2.0 risks

After reading this article you will be able to understand:

• How Web3 differs from previous Web technology
• How businesses are applying Web3 to their products and operations
• The common security risks of Web3
• How to mitigate those security risks

Full article:

https://www.cloudflare.com/en-gb/learning/insights-web3-security/