Like any other technology, Web 3.0 comes with its share of security concerns. Some of these gaps come from the dependence and interactions between some Web 3.0 systems and Web 2.0. Others are caused by inherent flaws in blockchain protocols and the delays in implementing fixes due to the reliance on network consensus for updates.

Here are some data security risks associated with Web 3.0:

Data manipulation

This is a significant problem in Web 3.0 and blockchain systems are susceptible to it. Although blockchain transactions are immutable and encrypted, malicious actors can alter data at the beginning and end of a transaction. The data manipulation risks in Web 3.0 include the following:

1) Intercepting or eavesdropping on unencrypted data transmitted across a network

2) If hackers have access to users’ passphrases, they can clone a wallet and take over its content

3) Injection of harmful scripts into the programming language used in executing application commands in Web 3.0 systems

4) Unauthorized access to data, enabling scammers to impersonate end-user nodes

5) Altering transaction data or forging the user’s digital signature

Data authenticity problems

Because greater control is with end-user nodes, data availability challenges can arise if the nodes are breached. Although decentralization makes censorship difficult on Web 3.0 systems, there is a question of data quality and accuracy. It is unclear how zero trust, gatekeeping, and interaction of blockchain with AI models can affect the quality and availability of data stored on blockchain systems.

Reduced centralized oversight

A benefit of Web 2.0 is the ability of centralized authorities to safeguard the security of data stored on their systems. The corporations are in charge of maintaining the integrity of data gathered and they commit significant human and technological resources in achieving that. However, the data stored on Web 3.0 is not managed by an entity and the whole network participants are responsible for maintaining the quality of the data. This may lead to data security challenges, especially on unpopular networks that do not implement strong security measures.