- Polygon and De.Fi has partnered to bring a Web3 antivirus to the Polygon ecosystem.
- The antivirus comprises of tools like De.Fi Shield, which scans downloaded files and smart contract approvals.
- Users can use the De.Fi Scanner to assess the security of their NFT or token or staking vaults before engaging with them.
Polygon, an Ethereum layer-2 chain, has joined forces with De.Fi to incorporate the latter’s antivirus into its ecosystem. Understanding how a Web3 antivirus works and what it can and cannot do is critical.
The Ethereum layer-2 chain Polygon (MATIC) hopes that its collaboration with De.Fi will result in a smooth integration of the De.Fi Antivirus into its ecosystem.
Polygon now provides its users with the DeFi suite of security tools, which should protect them from common crypto exploits. In addition, these tools address phishing, smart contract vulnerabilities, blind signing, and other issues, improving the safety and security of transactions on the Polygon network.
The year 2023 is only halfway through and has already set a record for scams and hacks. Few people question the need for improved security. How powerful is the Web3 antivirus?
Components of the Antivirus
The antivirus employs two distinct tools. Firstly, De.Fi Shield, which works like a traditional antivirus program, scans downloaded files on users’ computers. It also scans their wallets for smart contract approvals. It also warns them if they come into contact with risky contracts.
This tool allows users to either proactively or reactively revoke access to potentially malicious dApps. As a result, security breaches or hacking incidents can be avoided.
The De.Fi Scanner is a due diligence tool that allows users to evaluate the security of NFTs, tokens, and staking vaults before engaging with them.
Users can instantly assess the security of assets, make informed decisions, and avoid risky behavior.
Since 2011, nearly $17 billion has been stolen in crypto and DeFi scams, according to Crystal data. And, with $4.17 billion stolen, 2023 is already a record year for exploits.
Web3 Antivirus is Still in its Early Stages
Customers want anti-hacking and anti-exploit tools and applications that have been tested.
According to Artem Bondarenko, a software architect at De.Fi, the concept of a Web3 antivirus is still in its early stages. “There is ongoing research and development in this area. Users are becoming aware of the unique security challenges of interacting with decentralized applications (dApps), blockchain networks, and specific token smart contracts across DeFi, NFTs, gaming, and more.”
“Web2 has had a longer development and deployment history, allowing for the establishment of mature security practices and standards,” Bondarenko continued.
He stated that the unique structures of Web2 and Web3 require different security solutions.
“Security measures in Web2 typically involve firewalls, intrusion detection systems, encryption protocols, and traditional antivirus solutions. On the other hand, Web3’s security model focuses on decentralized consensus mechanisms, cryptographic primitives, and secure smart contract development,” Bondarenko added.
Adrian Hetman, Tech Lead Triager at Immunefi, noted, “Web3 is a fantastic technology, but as with every technology, it contains many attack vectors that a regular user isn’t prepared for. People are becoming more aware of the risks, but we still need to go away.
“Just looking at industry numbers, we have seen a loss of $18,894,454 to fraud in Q1 2023 across 15 specific incidents. These numbers represent a 71.8% increase compared to Q1 2022, when losses caused by frauds, scams, and rug pulls totaled $11,000,000. This alone shows that we’re far from being well-educated about security if fraud seems to be increasing.”