GoPlus Labs has released a report on how security data is becoming essential in managing risks within the Web3 space. This detailed document, named "Uncharted Consensus: The Widespread Use and Potential of User Security Data in Web3," points out the increasing use of GoPlus' own security tools, highlighting their value in protecting digital currencies, NFTs and decentralized apps from online threats.
Their collection of security tools, also known as an API suite, gives detailed information on the safety and weaknesses of various online currencies and applications. This suite includes different tools designed to assess the risks of digital tokens and NFTs, watch out for harmful online addresses and check for threats in apps that operate on decentralized networks.
The report notes a significant increase in the use of GoPlus' Token Risk API, which analyzes the risks related to different digital currencies. For example, there were cases when the API was called more than 20 million times a day.
Usage spikes were also seen in other tools offered by GoPlus, like their NFT Risk API, especially between December 2022 and May 2023. This matches the rise in popularity of NFTs and the need for ways to evaluate risks linked to them.
GoPlus' analysis also reveals that there is a lot of variability in the danger levels of certain tokens, with some being marked as "blacklisted" or "honeypots" — terms for tokens with high risks. The report also shows a surge in threats linked to NFTs, including risky actions like burning or minting tokens without permission.
The Web3 world grows, so does the need for thorough security data to help developers and users stay safe online.
Yuri Molchan
Tomiwabold Olajide
Godfrey Benjamin
