Web3 – Central News Hub

Blockchain project to explore potential of Web3

The research project is part of this endeavour by the government….reports Asian Lite News

The government has undertaken a research project in Blockchain technology system, which is aimed at evolving the blockchain technology stack for end-to-end blockchain application development.

According to official sources, the project titled “Design and Development of a Unified Blockchain Framework for offering National Blockchain Service and Creation of Blockchain Ecosystem”, will also enable Open Application Programming Interfaces (Open APIs) for seamless integration and offering blockchain-as-a-service (BaaS) over distributed infrastructure.

Official sources said that though the ministry of electronics and Information Technology (MeitY) has not conducted any formal study on the economic and technological opportunities that Web3 provides, it is aware of the field’s potential and this resulted in the framing of the National Strategy on Blockchain in 2021.

The research project is part of this endeavour by the government.

Blockchain plays an important role in realising Web3, and the National Strategy on Blockchain encompasses major technology components required for Web3, sources informed further.

Blockchain technology is an important component of Web3.

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Web3, ChromeOS scams to dominate online threat landscape in 2023

These scams may tempt users to click on a link or download an app that appears to interact legitimately with certain blockchains…reports Asian Lite News

Security software company McAfee on Monday released its cyber threat predictions in which it predicts that Web3 and ChromeOS scams will dominate the online threat landscape in 2023.

“McAfee encourages consumers to protect themselves online by being critical when assessing whether a website or source is genuine, and ensuring they are using legitimate sites for online payments and transactions,” said the company.

Fact-checking images, videos and news content, which is already on the rise, will remain an important and valuable part of media consumption, it added.

With the pandemic, the hype surrounding crypto, Bitcoin and NFTs increased dramatically. As a result, the concept of “Web3” appeared, which includes decentralised internet services.

In exploring these Web3 offerings, consumers will be unaware of the dangers of crypto or creating their own NFT content, leaving them vulnerable to scams, according to the company.

These scams may tempt users to click on a link or download an app that appears to interact legitimately with certain blockchains.

Such apps may not have the functionality to interact with any blockchain or may contain invasive adware that compromises users’ privacy, time, device performance and data usage and drains their device battery.

Moreover, the company said it can expect to see Chromebook users among millions of unsuspecting victims targeted to download and run malicious content in 2023.

Whether appearing to be legitimate Android apps, Progressive Web Apps, or Chrome Web Store extensions, users should be wary of popups and push notifications urging them to install untrustworthy apps, the company added.

McAfee has predicted four primary scams with newer hooks which consumers need to beware of — cryptocurrency scams, investment scams, fake loans and Metaverse.

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