The Web3 house has had enormous earnings and losses, and part of these losses is attributed to hacks that are valued in billions of {dollars} for 2022. Whereas this downside persists, just a few Web3 safety firms reminiscent of sec3 are growing safety instruments to automate security within the ecosystem.
Talking at Breakpoint, Chris Wang, co-founder of sec3, explained the premise for beginning SEC3 which was to handle the issue of safety in Web3.
He revealed that the identify sec3 was derived from securing Web3 and that they’re a safety analysis agency that’s targeted on making Solana tasks secure utilizing auditing and different processes.
“Now we have three main merchandise on our platform,” he stated. The primary is Soteria, a vulnerability scanner with greater than 30,000 consumer downloads that checks Web3 merchandise for doable weaknesses. The second is the X-ray, a SaaS safety device that runs scans and assessments Web3 merchandise earlier than deployment, Chris explained.
Chris additional acknowledged that the sec3 group found a vulnerability with the X-ray device and solved the issue by including a brand new checker to it. The final product is WatchTower which is a post-deployment device for real-time menace monitoring of Web3 merchandise.
Why automate safety in Web3
To have a secure Web3 ecosystem, it’s vital to automate safety, Chris stated to the Breakpoint viewers. It will assist sort out the issue of constant hacks in the business.
Whereas devs can accomplish that a lot, they should depend on instruments like we’ve got in sec3 to stop semantic inconsistency, the Co-founder shared. One more reason for collaboration between people and instruments for securing Web3 is that people usually are not as scalable as instruments that may be upgraded constantly to answer new threats.
Chris additionally defined that the three levels of launching a product are pre-deployment, launch, and post-deployment, and wish methods that may safe what devs have created. He additional famous that he believes it’s doable to develop real-time safety automated instruments after sensible contracts for blockchain merchandise at these levels.
The co-founder acknowledged that whereas their on-chain safety screens can detect malicious actions arrange by hackers earlier than they’re deployed, there can by no means be an ideal system for safety, thus, constantly enhancing their system is precedence.
