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I feel Web3 security has regressed heavily on what used to be the norm. When I first played with Bitcoin, it was basically the expectation everyone had an air g
by technion 5y ago
I feel Web3 security has regressed heavily on what used to be the norm. When I first played with Bitcoin, it was basically the expectation everyone had an air gapped desktop with an offline wallet, and a "watch only" wallet online. Then hardware wallets showed up and improved things further and people often still normalised that you only plugged it into a known clean machine if and when you needed it.
The standard these days seems to be "install a browser extension on your daily driver desktop and let it manage your wallet". I know people are going to say "Metamask supports x hardware" or "actually no, I still recommend..." but that doesn't take away from what's been the recent norm.
- simonw 5y agoI blame Ethereum - it's designed as a platform, which means developers build things on it, but those things then require users to interact with them - and every single interaction is an opportunity for something insecure to happen.
- rvz 5y ago> I blame Ethereum The problems all started because of Ethereum. The scams, hacks and rug-pulls across, ICOs, NFTs, Tokens, DAOs, DeFi and now you have web3. Put all of that together and you have tons of things that can go wrong and duck-taped that are not designed to work together which causes security issues and millions of dollars worth of losses. Now it is not just about payments, it's now complex dApps that are riddled with smart contract vulnerabilities. Even when the team already pre-mined their bags from the start, it was compromised as a project; everyone relying on and trusting a team and individual. The moment that the DAO hack happened, the chain was forked and the people at the top orchestrated it. When it goes to proof-of-stake, it will be even more centralized and no different to the other cryptocurrency projects out there.