The Rise of Web3 Technology : Challenges & The Role of Security Testing
The growing potential of web3 is undeniably revolutionizing the internet, but its vulnerability to security threats has raised significant concern over its usage. In 2022, the web3 domain experienced a substantial onslaught, with 165 major attacks resulting in cumulative losses of $3.6 billion. In 2023, notably the third quarter, the domain further witnessed staggering financial losses exceeding $720 million due to security breaches in web3 systems.