Two key security practices for Web3 startups from Israel Crypto Conference
Security continues to be one of the Web3 space’s most important and relevant matters, as protocols and enterprises continue to face exploits.
Cointelegraph spoke with Shahar Madar, the head of security products at Fireblocks, at the Israel Crypto Conference about what necessary steps Web3 startups should take to secure their platforms and users.
In his experience, Madar told Cointelegraph that many young startups usually put off developing a security protocol, for a focus on growth.
However, Web2 models for enterprise security don’t work in a Web3 world that has such an emphasis on finance. He said from the “attacker's perspective,” they’re always looking for a return on their hack of a project.
Madar stressed that companies need to talk about a security framework asking important questions like, “How do you vet your team,” “How do you place access control,” and “How do you test your infrastructure map and prepare for the incident.”
According to the Fireblocks security head, for any young startup in the Web3 space, two basic things are needed, the first being “access control.”
Access control means that not everyone at the company has the same access to various aspects of a project.
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Madar gave the example of a business developer not being able to deploy smart contracts. “Not because they are a bad person,” he said. “Rather from a security perspective with boundaries.”
The second thing is a game plan - to sit down and map out the project from the security perspective. He said developers should “imagine how you would hack yourself.”
He said all it takes to start making a game plan is simple “tabletop exercises” and set team meetings.
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