When people used to browse the internet in the early 2000s, the main attraction on offer was the downloading of content and less about social interaction - with that brought avenues for viruses that would cause havoc and produce financial gain for attackers. These were an inconvenience for the average user, which led them to begin using anti-viruses to provide some level of protection. People quickly learned not to click on random pop-ups, download weird files, and become more skeptical of the websites they used to pirate movies and music. Limewire was an infamous example of this.
As the internet evolved in the 2010s, so did the avenues of attack. Identity theft became a lucrative source of financial reward, with the growth of centrally controlled platforms operated by large commercial businesses. Attackers could focus on single targets for a bigger payoff. Users begin to give less attention to their own safety by-in-large as they kept to platforms they knew and trusted, and subsequently entrusted those very same platforms to safeguard their data. The failure of these platforms (like in 2019, where Facebook’s internal data was exfiltrated), started to erode this long-held trust.
But with the rise of Web3 and the underlying thesis of ‘ownership’ for all users, the cost-benefit analysis of security being a ‘nice to have’ has structurally shifted to being a ‘must have.’ Users again released that they were in control of their property, and their data.
Continue reading: https://www.nasdaq.com/articles/web3-brings-a-structural-shift-in-the-need-for-security
As the internet evolved in the 2010s, so did the avenues of attack. Identity theft became a lucrative source of financial reward, with the growth of centrally controlled platforms operated by large commercial businesses. Attackers could focus on single targets for a bigger payoff. Users begin to give less attention to their own safety by-in-large as they kept to platforms they knew and trusted, and subsequently entrusted those very same platforms to safeguard their data. The failure of these platforms (like in 2019, where Facebook’s internal data was exfiltrated), started to erode this long-held trust.
But with the rise of Web3 and the underlying thesis of ‘ownership’ for all users, the cost-benefit analysis of security being a ‘nice to have’ has structurally shifted to being a ‘must have.’ Users again released that they were in control of their property, and their data.
Continue reading: https://www.nasdaq.com/articles/web3-brings-a-structural-shift-in-the-need-for-security
