Why Web3 Is Not Yet Safe Enough For Mass Adoption

screenrant.com:

The largest government database leak in internet history was revealed last week, exposing the personal information of one billion to the dangers of the dark web, and it has reminded the world of the risk of gathering too much data into a centralized database guarded only by an authorization portal. While most people are already aware of (and mostly apathetic toward) the risk of data leaks presented by Web2 companies and world governments, many aren't aware of the risks presented by Web3 in its current state, despite many being enthusiastic supporters of mass-adoption.

Web3 is the "third generation" of the internet, built on blockchains (such as Bitcoin, Ethereum, and Dogecoin) to provide digital property ownership and to facilitate peer-to-peer value transfer and trade, among many other potentially useful functions. Public blockchains are designed for recording all transactions made on-chain, which are visible forever so they can be audited independently. This means the only privacy feature is pseudonymous accounts, which can still be linked to their owners through doxxing. While the internet of Web2 may eventually forget due to link rot and server hardware failure, as well as providing users the ability to erase or modify inconvenient data, a blockchain never forgets what is (or was) stored on it. What happens on the blockchain stays on the blockchain... forever.

Related: iOS 16'S Lockdown Mode Is iPhone's Answer To Mercenary Spyware

Last week, Fortune reported on China's cybersecurity data breach, which contained 23 terabytes of personal data belonging to one billion Chinese citizens, each entry offering every detail of the citizen's life. This event inspired a Twitter post made by Manta Network contributor, Kenny Li