By Jaeson Schultz.
Internet technology evolves rapidly, and the World Wide Web (WWW or Web) is currently experiencing a transition into what many are calling “Web 3.0”. Web 3.0 is a nebulous term. If you spend enough time Googling it, you’ll find many interpretations regarding what Web 3.0 actually is. However, most people tend to agree that Web 3.0 is being driven by cryptocurrency, blockchain technology, decentralized applications and decentralized file storage.
Web 3.0 innovations include the immersive 3-D experience known as the “Metaverse,” a virtual reality environment where people can explore, shop, play games, spend time with distant friends, attend a concert, or even hold a business meeting. The Metaverse is the next iteration of social media, and identity in the Metaverse is directly tied to the cryptocurrency wallet that used to connect. A user’s cryptocurrency wallet holds all of their digital assets (collectables, cryptocurrency, etc.) and in-world progress. Since cryptocurrency already has over 300 million users globally, and a market capitalization well into the trillions, it’s no wonder that cybercriminals are gravitating toward the Web 3.0 space.
Web 3.0 brings with it a host of unique challenges and security risks. Some Web 3.0 threats are simply fresh