MUMBAI, India – (Newsfile Corporation – April 15, 2022) – Cyberb, powered by Avalance – a leading cyber security firm, has announced steps to secure Web 3 space. The cyber security solutions offered by Cybirb cover both on-chain and off-chain services.
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From Web1.0 and Web2.0 to the recent development of Web3.0, security practices have become an integral part of technological innovation. With the evolution of technology and its applied architecture, security practices have also evolved to support and unlock new economies.
In the Web 1.0 era, the Secure Sockets Layer (SSL) protocol was introduced to provide secure communication between servers and user browsers. As this development progressed, Transport Layer Security (TLS) was the second iteration of Web 2.0’s security protocol.
Today, Web3.0’s innovative application architecture demands solutions to new security challenges. The success of Web3.0 depends on the development of subsequent iterations of the security protocol. This explains the significant increase in investment of Web 3 security companies by more than 10 times According to the Crunchbase report, venture investments in the new Web3.0 security company reached the 1 billion mark last year.
Security Concerns in Web3.0 Space
Instead of the traditional application logic and database layers in Web2.0, decentralized applications in Web3.0 are built on smart contracts for blockchain networks, nodes, and logic and state management. Currently, users can access a front end to update data such as publishing new content, making purchases, etc. Users need to sign transactions using their personal keys and manage the wallet to perform activities in the Web3.0 space.
Existing system security of Web3.0 comes with trade-offs because blockchain is a decentralized and unreliable system. Users have complete control over their data and funds and do not have to go to any intermediary or central authority in case of hacking or attack. However, these security concerns will not hinder the growth and development of Web3.0.
Web1.0 and Web2.0 had serious weaknesses in the earlier versions of the SSL and TLS security protocols. Basic versions of this safety practice have evolved and become stronger over time. Current Web3.0 security companies and projects are the equivalent of initial code-scanning and application security testing tools designed for Web1.0 and Web2.0 applications.
About a significant amount of responses to the Web2.0 security model. Whereas in the case of Web3.0, transactions are irreversible and cannot be corrected once they are executed. Therefore, security measures designed to verify that Web3.0 should be transacted first are necessary. The community needs to address the vulnerabilities of technically smart contracts from primitive to cryptographic. In other words, good security practices are essential for Web3.0 to prevent potential attacks.
Introducing Cyber Security for Web3
Cybirb, powered by Avalance – a leading cybersecurity firm, has taken steps to secure web3 space. The cyber security solutions offered by Cybirb cover both on-chain and off-chain services. From identifying vulnerabilities in smart contract code to constantly monitoring blockchain projects – Cybirb overcomes barriers, identifies threats, and provides solutions to secure projects, users, and ultimately Web3.
Cybirb offers a one-stop solution that meets all the needs of a cryptocurrency project. The firm offers services related to blockchain ecosystems and product solutions. These include the DeFi project, Exchange, Oracle, Crowdsell, Blockchain Networks, etc. It extends support for compliance and wallet tracing to secure transactions.
Common cybersecurity solutions on Web 2 involve testing the product before installing it and blocking the network in case of threats. However, traditional solutions no longer apply to web3 innovations. The blockchain system, based on Web3, requires thorough testing and monitoring of the smart contract code before it can be installed because blockchain networks are difficult to shut down. This is why Cybirb facilitates penetration testing programs and smart monitoring, which works to resolve them and identify inconsistencies to secure source code.
Web3 provides a new approach to the Internet for companies, users and solutions. Subsequently, Web3 needs to take a different approach to cyber security. Cybirb’s cybersecurity solutions ensure that space can be invented with minimal friction.
Company Name: Cybirb
Contact Name: Neeraj Sharma
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