Ever since the dawn of Web3, we have faced many challenges, but security is one of the most important and constant challenges the web3 ecosystem faces today. Ever-increasing threats on the web3 protocols suggest the need for web3 security today more than ever.
Suppose you run a business or want to run a business on the blockchain. In that case, it becomes your responsibility to keep this place safe by protecting your users and providing them with a better web3 experience. Being an entrepreneur, one must maintain user security, and this is something QuillAudits can help you improve. We are on a mission to make web3 a safer place, and we do this by helping web3 businesses to create a secure platform for their users.
The work that we do is focused on making the web3 ecosystem secure thus along with doing audits for web3 projects, we also believe in sharing tips and practices which help web3 projects secure themselves, and this blog is one such attempt. Here you will learn about the best web3 practices you need to pick on to improve your project security.
Best Cybersecurity Practices to Keep your Business Secure
In this section of the blog, we will look at different practices to follow which have already helped big projects to ensure security and provide a better experience to users. Go through them carefully and incorporate the ones you see fit your purpose.
1. Evaluate the Cybersecurity threat profile
Before we secure anything, it is crucial to understand what it is actually that we want to secure. The answer to this question will depend upon your business category. What do you stand to lose if you fall victim to an attacker? Is it sensitive information? Is it the financial assets?
All these questions are necessary. By figuring these out, you will understand what you want to protect and what measures to take to improve security.
2. Software updation
Often, the vulnerability that causes projects to lose millions can result from outdated security or operating software. We are in an ever-continuing cycle of updates and developments. Under this process, Computer software often gets security updates that patch the latest vulnerabilities. This makes it difficult for attackers to take advantage of any disclosed vulnerabilities.
Many projects automate this process by investing in an updated management system. These ensure that your devices are up to date.
3. Educate your employees
We need to make sure every aspect of your project development cycle is free of vulnerabilities. You see, any resource involved in the creation or development of your project is a potential vulnerability source. Human resource is no different. There have been many instances of projects getting compromised because of inadequate training and education of employees.
A well-crafted phishing attack can lead to your employee falling into the trap, which may result in confidential data leaks. This is just one such example. This makes it important to ensure that your staff is familiar with current cyber assaults and how they happen so they can safeguard your business and safeguard themselves.
4. Include the use of a VPN
Using a VPN or an internal network is common in almost every well-recognised company. VPN should be a part of operations, whether web2 or web3. VPNs enable employees to hide their IPs whenever they easily access sensitive information. This way, they can help prevent breaches in the business network.
5. Backup Data Regularly
Cannot emphasise more on the importance of data in today’s world, The passwords you store, the marketing emails you have, crucial data regarding sales you have etc., are the building blocks of your business. Imagine if you suddenly find out all your data is lost. I would never want to be in that situation. And actually, this is what happens if you take security lightly. I am sure you must have heard about Ransomware. They are still effective nowadays. Now, what’s the solution? It’s very simple.
These attacks can be prevented by using a secure cloud service to back up data or a separate physical storage location. Along with protection against hackers, this will also give you flexibility in case of faulty hardware.
6. Use of Multi-Factor Authentication
You will find this security measure in almost all popular platforms these days. Multi-Factor authentication has proved to be effective in preventing many attacks. Incorporating this in your platform gives an extra layer of security, as even if users’ credentials get compromised, hackers cannot access their accounts. The same for any changes/transactions.
Google Authenticator or Authy are the most recognised authentication software providing this service.
7. Get your Smart contract Audited
This is a single sure-shot solution to all your security-related issues. Along with fixing your security issues, the audit report for your business gives you a token of credibility and helps you build trust with the users. Smart contract audit involves taking help from experts like QuillAudits to find and fix vulnerabilities on-chain and off-chain.
Everyone needs a security audit, no matter how big or small the business may be. Even the big giants are now moving to take help from expert auditors because now, more than ever, the protocol’s security matters the most.
It can get really ugly very quickly when you search for answers to your security-related issues, and security is often a measure of your questions’ relevance. You see, even expert developers often make mistakes, which leads the project to vulnerabilities.
To save yourself from getting hacked, it is important to identify and fix those vulnerabilities, which can only be done with the help of experts. We at QuillAudit have a team of experts that can help you secure your project from hackers and help you give a seamless and secure experience to your users. If you are buidling in web3, check out our website and register for an audit today!!.
What are the risks in Web3?
No technology is perfect. We need to be in a continuous development process to make it perfect, as with Web 3.0. It faces risks like Unauthorised Information Access, Standardization of Trust and Proof, Malicious Script Injections, Social Engineering, Data Availability and Data confidentiality.
Why is Web3 more secure than Web2?
With blockchain as a backbone of Web 3.0, users enjoy more security here as compared to Web 2.0 with reduction injection attacks, DOS attacks, and also solving the trusted execution problem, which is a major unsolved problem in Web 2.0
What are the limitations of Web3?
Every great thing has its flaws, and Web3 is no different. One of the major drawbacks of Web3 is it can be hard to grasp for newbies; along with that, it is difficult to regulate, easy access to user’s personal and public data etc., but all these drawbacks are being rectified, and with continuous development and research Web3 will soon be a necessity rather than an option.
What are the security issues in Web3?
The security aspect of Web3 is big, with issues like loss of private keys, phishing scams, smart contract failure and vulnerability exploitation, and user data compromisation. We as a community are on a long journey, and QuillAudit is one of the leaders in that journey to ensure a secure and safe environment for Web3 users.