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Web3 Security: Business Risks, Attack Types, and Best Practices for Protecting Web3

Vitaliy Basiuk
Alissa Adams
Editor Fact checked
March 30, 2023 | UPD: April 26, 2023 | 10 mins min. reading | 865
Web3 Security

Web3 Security: Comprehensive guide

Unlike its predecessors — Web 1.0 (Web1) and Web 2.0 (Web2) — Web 3.0 (Web3) uses blockchain instead of hosting sites on particular servers. This technology provides enhanced resiliency and greater transparency and removes the need for a third party to make transactions, just to name a few of the benefits. However, Web3 does come with some risks of its own.

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What is Web3 security?

Web3 security refers to activities involved in protecting Web3 projects and users against potential attacks.

Is Web3 more secure?

In general, Web3 is more secure than earlier versions of the web due to the use of blockchain technology, which makes it more difficult for hackers to exploit the network; and even if they manage to do so, their actions can be traced back to them. Still, Web2 front ends, APIs, and protocols significantly expand the attack surface of Web3 applications.

Why is Web3 more secure?

Web3 utilizes cryptography to ensure data can’t be removed or modified without the supporting network’s agreement.

Is Web3 hackable?

At its very core, no — blockchains hosting Web3 applications remain impenetrable to hackers. Most attacks that put Web3 security at risk target smart contracts, APIs, protocols, and the like.

Written by
Vitaliy Basiuk
COO & Co-founder

Written by Vitaliy Basiuk
COO & Co-founder at EvaCodes | Blockchain Enthusiast | Providing software development solutions in the blockchain industry

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