Overview

Web3 technology offers many benefits for businesses, such as new business models, improved efficiency, and modernized transaction systems. However, it also poses a significant security risk, as bad actors can easily exploit the distributed nature of web3 systems. If successful, these attacks can harm the trust in the ecosystem and have a negative impact on financial and operational integrity. This has been proven with over $2 billion in web3 financial losses in the first half of 2022 from high-profile cyber incidents.

Traditional security measures using software alone are not enough to protect against attacks. Keys and data in memory are always vulnerable, and monitoring only detects attacks after they have already begun. Vulnerabilities and zero-day exploits will always remain undetected and exploitable risks. Even cloud-based systems are vulnerable to attacks from cloud operators and the software attack surface. The solution is to protect the integrity and confidentiality of the code and data at all times, especially during use, which until recently was not possible.

Anjuna’s Confidential Computing Platform solves the security issues of blockchain by creating a secure environment in the cloud or on-premises where data is always encrypted and the authenticity of the code is verified. This ensures that blockchain data remains private during execution, eliminating the risk of eavesdropping and tampering. Furthermore, Anjuna ensures that important Web3 infrastructure cannot be altered for malicious purposes, allowing Web3 organizations to provide trustworthy solutions for their customers.