Privacy and security issues have always been a concern to us. In the original blockchain world, transparency and anonymity were huge advantages over the traditional world. But with the development, privacy and security have been brought up together again. Does the blockchain world need privacy and security? What level of privacy and security is needed, today 499x builders will explore with you:
Why does the web3.0 world need privacy and security more than ever?
Belly Joy：
Today we are honored to invite 0xTriple7@0xTriple7, CTO 0f Zero One, and Mike @Go+ Mike Founder of Go+ Security to discuss: Why the web 3.0 world needs privacy and security services more than ever
0xTriple7:
Hello everyone, I’m a DeFI developer and the CTO of https://01.finance/
Go+ Mike:
Hello Everyone, I am Mike, CEO of Go+ Security
I have been in the blockchain industry for 5 year.
0xTriple7:
Combined with zero-knowledge proof to build a ticket system, generate the ticket yourself.
so that the third party cannot see the content of the ticket, and at the same time does not affect others to prove that you have ownership of the ticket.
tornado.cash also mixes coins through zero-knowledge proofs and is a privacy mixer on the Ethereum chain.
There are also public chains for private transactions, which also use technologies such as zero-knowledge proof and currency mixing to achieve privacy transactions to achieve confidentiality.
such as monero, ZCash, DASH and other public chains.
The privacy here is only for Token transfer behavior. After all, this is a high-frequency and common operation that is easy to reveal identity.
The whole is to build different technical solutions for different transfer amounts to realize private transactions.
Go+ Mike:
Web3 now open users data and those data are all free to use. From my view,it is the same as that web2 companies use their customers’ data for free.
Web3 data starts from users, as Web3 gradually develop and mature, the value of that data about users’ digital assets and actions will appreciate even more.
Thus providing data protection for users are necessary.
The use of those data should be approved by users themselves, but for now, privacy technologies are not widely adopted, and user awareness is still relatively low, which will cause users to not realize the importance of data privacy.
However, after this stage, privacy technology will be mature, and users will eventually obtain the ownership of their own data.
Over,thanks.
Belly Joy:
For ordinary people, privacy and security do not seem to get enough attention. What do you think will be the easiest scenarios for web3’s privacy and security projects to be implemented in the future?
0xTriple7:
web3 is still a baby and needs development in every aspect of his body, but he will grow very fast.
Depending on what are the immediate problems and needs, the next stage of web3 development will require more infrastructure.
for example
Private transfer transactions
Rigid demand drives technological development, which can accelerate the implementation of applications.
Independent digital identity system
As an ID required by the Metaverse, the entire web3 will accompany the development and socialization of the concept of ID, and further create an IP culture corresponding to digital identity.
Privacy computing
To make private transactions one step closer, it needs to be extended to the privacy of the entire transaction execution process.
Go+ Mike :
I agree with what our host said, the security for general Web3 users is not getting enough attention.
Users need a general security services with large concurrency, covering multiple scenarios, having active identification and real-time defense in order to defend against endless attacks.
The crypto industry faces the facts that effective security resource is insufficient and resource allocation is unreasonable.
Meanwhile, the limited number of security service providers are still coping with problems such as limited service scope and low efficiency of service models.
Let’s break down the reasons more into detail from the three types of main crypto security service providers.
Auditing companies are the main providers of security services in the blockchain industry, and they have the restrictions of limited talents and high service cost in general.
Besides, the following fact also limit the security capability of auditing firms, including:
1.single security service
2.single type of paying users
3.the marginal cost of improving service capabilities is high
4.hard to prevent the risk of large concurrency
5.difficult to provide security services to a wide range of users
The other two security service providers, blockchain bug bounty platforms and security tools, are also unable to achieve security services for a wide range of users because of their own application limitations.
The results of above-mentioned facts are, firsly insufficient security service resource, and secondly users continuously expose in security risks without timely, effective and safe security protection.
As @0xTriple7 said, Web3 is still an infant and there are more to be done in the construction of infrastructure.
Providing security services for ordinary users is one of the scenarios that I think will be easier to implement in the future, and it will also be an infrastructure directly spawned by industry pain points.
Belly Joy:
Many large enterprises have completed the original accumulation of capital in the era of web1.0 and web2.0, and have enjoyed the industry dividends brought by Internet users sacrificing certain privacy and security for convenience. How do you think web3 privacy and security projects face these old monly competition? Because it seems to be killing their jobs?
0xTriple7:
For web2 enterprises, the user’s data represents profit and is the wealth of the enterprise
Therefore, they will compete to draw users to act as cows in the enclosure and use the production data of these cows.
The web3 world is destined not to be sought after by big companies, because this kind of behavior is destroying its own data gold mine.
In web3, the user is no longer the product, and the user’s data is no longer controlled and utilized by a single entity.
Users have absolute ownership and control over the data.
Returning user data from the enterprise to the user is a good thing for the user and a nightmare for the enterprise.
If privacy can’t be made a protocol standard in web3
the best old money can’t keep users
In the web3 world, product thinking needs to be changed.
Enterprises no longer build products with users as the center
but focus on how to create products that users love
Go+ Mike:
Web3 is to eat web2, why not do even harder?
From the underlying structure of the data to the way that the applications are deployed, web3 is totally different from web2. even on the opposite.
Those fundamental changes.
The data in web2 is fragmented, it’s separately stored into those centralized applications, the use of data are useless and inefficient.
While on the application layer, data can not be shared or used outside the owner freely, Web2 enterprises must pursue the maximization of value, that is, to build an application to provide all the services, as they have the data.
It can be said that this data structure has caused the bottleneck of the Internet, and the user value cannot be improved. The growth of web2 stagnates.
While Web3 is different, it is built to unleash users’ value.
Data start from user, own by user. And application is deployed in a different way:
user’s data is on open ledger and can be shared across various applications, and in this way, the usage of data becomes more efficient.
The layered application method finds a more efficient use method on each layer and then superimposes it.
This direction is unstoppable and irresistible.
There are only two choices for web2 enterprises, to embrace web3 more quickly, or stay in the thinking of web2 and die , wearing a web3 coat to do web2 things will not work.
Belly Joy:
Better privacy and security are sometimes not always good things. For example, in the era of web3, digital assets lost by hackers are difficult to be held accountable in real life. What do you think of the positive and negative sides of this matter.
0xTriple7:
Hacked, attacked, stolen, and fraudulent are not problems specific to web3, but problems that existed before web3.
If someone thinks that web3 is not good because of these problems, it can only be said that he is limited by his own cognition.
The problem of development is solved in the process of development.
The web3 era is a big era of free platforms.
Like other eras, bad people and good people will coexist in it.
Go+ Mike:
The development of things is a process involving contradictions and balances between pros and cons.
But with more innovations, there will be higher efficiency and stronger security.
Then things will enter a phase of fast development.
So from now we are only in a phase that face a lot of challenges.
Risk is unavoidable to some extent, no matter in Web2 or Web3.
Thus it is our best choice to effectively integrate industry security resources and provide security services for a wide range of users under this circumstance.
In other words, there is another solution for this problem.
That is to protect the asset security of ordinary users and minimize user losses from the perspective of blocking and intercepting risks while pursuing privacy and security.
This is what Go+ Security is currently working on.
Go+ Security starts from the actual security scenarios of users, and provides fast, accurate, low-cost and optional security services based on the crypto users’ needs for security services.
Based on the new security framework of Go+ Security, we standardize data processing through an automated detection platform, and then process non-standardized data by establishing security DAO.
At the same time, our risk databases are open to the industry, so that we can interact with users, allowing users to become risk data sources.
Go+ Security organizes security resources based on this, so that flexibly despatching the supply of security resources according to user needs can be achieved, so as to achieve the most efficient security data exchange, thereby establishing the largest risk database and security policy database in the industry.
Belly Joy:
Most countries have regulations on the Internet, and most of the basic communication service providers can see the government behind them. What do you think of the contradiction between them and web3’s pursuit of privacy and security?
Go+ Mike:
The development of new technologies also face regulation challenges, which itself is the law of technology development.
Only through constant challenges can we find a way for technology and regulation to coexist.
Remember when the car was first invented, the cars needed to comprise the speed to not compete for the public road resources. And finally we have the road system now.
In the early days of the Internet, the contradiction between the fast flow of information and the copyright happened a lot then can we have gradually formed the existing Internet copyright management mechanism.
The development of new things requires a process.
So in terms of Web3, I understand that regulation requires an understanding of technology.
At the same time, technology will continue to develop, actively adapt to regulation, and finally find a balance between user rights, technological development, and government regulation, and further promote web3 to replace web2.
For basic communication service providers, I personally think that there is no need to worry.
The explosion of the web3 application layer will force the optimization of the L0 layer, which will take some time.
Now the structural design of the L0 layer is still centralized, and this change will be more difficult.