Securing Web3

Editor's note: This is a deep dive on the state of cybersecurity in Web3. A shorter version was originally posted on TechCrunch, and Wei explained more of his thinking in this thread. ‍ In both Web1 and Web2, security models changed in tandem with application architectures to help unlock entirely new economies. In Web1, Secure Sockets Layer (SSL) was pioneered by Netscape to provide secure communication between user browsers and those servers. Trusted Web2 intermediaries such as Google, Microsoft, Amazon, and certificate authorities played a central role in driving implementation of Transport Layer Security (TLS), the successor to SSL. The same will happen for Web3. This is the key reason why investment in new Web3 security companies increased last year more than 10x to over $1 billion. The success of Web3 hinges on innovation to solve new security challenges created by different application architectures. In Web3, decentralized applications or “dApps” are built without relying on the

Editor's note: This is a deep dive on the state of cybersecurity in Web3. A shorter version was originally posted on TechCrunch, and Wei explained more of his thinking in this thread. ‍ In both Web1 and Web2, security models changed in tandem with application architectures to help unlock entirely new economies. In Web1, Secure Sockets Layer (SSL) was pioneered by Netscape to provide secure communication between user browsers and those servers. Trusted Web2 intermediaries such as Google, Microsoft, Amazon, and certificate authorities played a central role in driving implementation of Transport