Blockchain technologies are shaped for security. However, sometimes even Web3 projects have vulnerabilities. Let’s explore what issues GameFi titles may face and how to prevent them efficiently.
The Power Of Security
Security is a must for Web3 games because it influences users’ personal data protection, financial safety, and gaming experience. If such aspects are violated, users lose their interest in titles. Meanwhile, negative consequences can lead to economic issues within the industry and undermine GameFi’s reputation.
Issues
GameFi security issues can be divided into two categories, on-chain, and off-chain. We will describe some of them but consider that they are more numerous and comprehensive.
On-Chain
The vulnerabilities of the code cause on-chain issues — for instance, smart contracts. Hackers can exploit them to access and steal data and even ruin the blockchain network.
As a rule, vulnerabilities derive from programming mistakes, lousy design, or logic. The brightest example is the attack of the Ronin Network of Axie Infinity when criminals aimed to get $600M.
Another potential problem source is ERC-20 tokens, widely used as a virtual currency for in-game purchases. Its improper minting and management can introduce security risks. For instance, in 2022, DeFi Kingdoms was attacked by malicious ERC-20 minting.
Meanwhile, hackers can also attempt to steal NFT attacks. The most common ways are marketplaces, rug pulls, swaps, and Trojan Horse NFTs.
Off-Chain
Off-chain issues are the ones caused outside of the blockchain. For instance, by the UI, backend, or APIs that make blockchain projects dependent on centralized servers. The thing is that they keep game data and users’ accounts. And, though blockchain is much into decentralization, many GameFi projects use centralized servers. Thus, attackers can steal data during transmission and spoil the network with malicious code.
How To Prevent Problems
To prevent all the potential security issues, GameFi titles’ creators should test the smart contracts they use correctly, conduct detailed security audits, implement proper validation and authentication checks, and regularly update their platforms. Meanwhile, they should also collaborate only with such trustworthy platforms as Prom.
Policy
Remember that keeping your project secure is a must, for GameFi titles are subject to multiple legal requirements. For instance, they should prove they go for data privacy, counter-terrorism financing, anti-money laundering, and know-your-customer (KYC) regulations.
Conclusion
Security is vital to GameFi and the basics of great user experiences. So, every project should do its best to maintain it. Nail it and boost GameFi!
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