Wizbytes Global

The original “web 1.0” was a platform for static pages produced by businesses. We suddenly had a “web 2.0” with users creating and uploading content when forums and social media arrived on the scene. To express a web based on data that people and machines could comprehend, Tim Berners-Lee coined the term “web 3.0.” If web 1.0 is to be compared to Wikipedia, the web 2. It would turn everything on the internet into a gigantic database, artificial intelligence (AI).

What Is the Web 3.0

There are three core foundations of Web 3.0, namely,

  • Artificial intelligence  (Al).
  • Internet of things (loT).
  • Blockchain technology.

 

Blockchain will assist us in achieving decentralized data storage and fostering trust in the virtual realm. It will enable users to understand and sort online information and provide them with the most relevant options possible.

The internet will be connected to smart devices through the interoperability layer of Web 3.0 when IoT takes off. It has been designed to give a better and more customized online experience by constantly interpreting its digital footprint.

Web 3.0 Secure Enough With Cybersecurity

With ML, BG, and decentralized ledger technologies, Web 3.0 is the generation of interest where apps and blogs can analyze data like a human. Unlike Web2.0, data is decentralized and open and autonomous and intelligent. On the other hand, every technology comes with its own set of risks. Some of the issues are data quality, availability, confidentiality, and data tampering.

In the world of technology, cybersecurity is the most pressing concern. As Web 3.0 evolves, more cybersecurity threats will surface. Web 3.0 tokens are digital assets linked to the goal of establishing a decentralized Internet.

What Are the Risks Involved in Web 3.0?

It’s obvious, with the evolution of web 3.0, there are higher chances for many risks. Some of the concerning ones are as follows. 

1. Data Confidentiality

In the same way that credit cards and bank account numbers contain sensitive, private information, Ethereum addresses do. Ethereum addresses should be treated with caution by defi sites, and they should only be exposed to third parties if they have a compelling reason to do so.

Defi stands for Decentralized Finance, and the company must live up to its name by avoiding centralized APIs and analytics suppliers. In Web3.0, privacy is a major concern because it captures such a large amount of personal information.

Defi protocols may capture sensitive and confidential information like wallet addresses, bank account numbers, and credit card numbers. Read more About Binance Leveraged Tokens.

2. Information Quality

As Web 3.0 is not widely used, the data supplied may be biased and do not reflect the true situation. As a result, the quality of the data gathered arises. As a result, the quality of the data gathered arises.

3. Data Manipulation

The data fed into the machine learning process is used to train the AI if the data suppliers have tampered with the data to suit their own needs.

4. Data Availability

Data is at the heart of Web 3.0. Web 3.0 will stop working and cease to exist if there is no data at any point in time.

5. Unrecoverable Financial Loss 

Hackers can get illegal access to wallets and move cryptocurrencies to their accounts using flaws in smart contracts. The loss suffered is not recovered because the data on who owns the address is unavailable.

Conclusion:

Although the security of web 3.0 has yet to be determined, you must consider all possible implications of this new platform before implementing it into our lives. It is also crucial that we discuss the level of security that will be necessary to protect us from potential cyber-attacks in this new era. Only by considering all aspects of web 3.0 can we ensure that its implementation results in a better future for all. 

Also Read: What is web 3.0 and why it matters?