Cybersecurity Challenges Expected to Increase During Next Crypto Growth Cycle
As the next cycle approaches, cybersecurity remains a significant challenge. Conversations with Forta’s founder Andy Beal highlight the importance of security during periods of growth, as larger assets attract more attackers.
With potential retail entry into crypto during a bull market, less experienced participants may become targets for malicious actors. Beal notes an increase in end-user attacks due to this trend.
Forta's recent launch of Forta Firewall represents a Web3 adaptation of traditional firewalls, utilizing AI to secure transactions and prevent malicious actions. Beal anticipates that conventional cybersecurity tools will increasingly be integrated into the Web3 space.
Beal explains that proven Web2 security methods are likely to be adopted in Web3 since it builds on the existing internet infrastructure. Firewalls, established since the 1990s, have evolved over three decades and are now being introduced in Web3, leveraging past designs and innovations.
This evolution suggests a growing application of AI within the cryptocurrency sector.