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The World Wide Web, now simply referred to as the Internet, is by far the most significant technological revolution in tech history. The current generation of the internet is Web 2.0, which allows users to browse and write content powered by centralized data centers. Today the cyber world is rapidly progressing towards Web 3.0.

Web 3.0 is a decentralized database where users have complete control of their data without the need for a third-party platform to facilitate the content, and it is also an intelligent version equipped with Artificial Intelligence, Machine Learning, and Semantic Web. Web 3.0 also brings blockchain as a core feature. The decentralized record of transactions provides cryptocurrency with enhanced security, transparency, and immutability.

Identity native Vast amount of data breaches occurred in Web 2.0, and people had less control over what organizations did to their data. In Web 3.0, people have complete ownership and control of their data, which allows them to authorize access to their data with smart contracts and defend against privacy risks.

Zero trust Unlike Web 2.0, where businesses were given unlimited trust with their customers data and services, Web 3.0 operates on a zero trust principle, with data directly flowing peer-to-peer through decentralized apps.

Decentralized applications (dApps) dApps are software programs that operate on a blockchain or peer-to-peer network. They ensure privacy, provide freedom from censorship, and offer flexible development without centralized control.

Decentralized technologies Technologies such as Decentralized finance (DeFi) is an intermediary-free financial systems enabling transparent borrowing, lending, and sharing of digital assets. It enhances accessibility to financial services by eliminating third-party involvement. Non-fungible tokens (NFTs) enable the creation, replication, and transfer of digital assets such as gaming items, digital art, and collectibles.

Web 3.0 introduces new advantages, but along with them come additional risks and challenges. While Web 3.0 addresses important issues of its predecessors, it also brings advanced vulnerabilities requiring careful attention.

Novel attack methods distinct from traditional attacks relevant to blockchain networks and interfaces will be introduced.

Data reliability and confidentiality Due to decentralized data management, the accuracy, authenticity, and validity of the data published remain a question. It may lead to misinformation and security issues, and AI models will ingest these invalid data. Data availability issues arise since great control lies with end-user nodes, processes, and applications, which can be negatively affected if data becomes unavailable. Data can also be subjected to manipulation if a threat actor gains unauthorized access. Techniques such as injecting malicious scripts, eavesdropping or intercepting unencrypted data, and wallet cloning are used.

Privacy and compliance There are doubts regarding the privacy of the information that is published on and off the blockchain. While anonymity improves privacy, it also raises questions of accountability and liability. Decentralized IDs pose challenges for existing regulations in distinguishing between data controllers and data processors when it comes to Personally Identifiable Information (PII).

Following are best practices in mitigating risks of Web 3.0

Web 3.0 offers powerful possibilities along with unique cybersecurity challenges. Its decentralized blockchain technology increases privacy and data control but also results in various advanced novel threats and attacks that organizations need to be aware of. By embracing the potential of Web 3.0, it is crucial that organizations adopt the best security practices and measures to protect data and resources.

Editors Note:The opinions expressed in this guest author article are solely those of the contributor, and do not necessarily reflect those of Tripwire.

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Web 3.0: The Future of the Internet and its Cybersecurity Features ... - tripwire.com