The conventional financial realm possesses a noteworthy edge over the blockchain sector, an aspect that often remains under-discussed. This advantage lies in its superior resilience to cyber-attacks. Over time, IT experts and the legal system have effectively tackled hacks, scams, and fraudulent activities. Although such incidents are not absent, their occurrence is significantly less frequent compared to those within the blockchain industry. For Decentralized Finance (DeFi) to reach its full potential, it must secure the trust of its users. This trust can only be established by significantly reducing the number of security incidents. The 2023 security report released by CERTIK offers an in-depth analysis of the incidents that transpired and the corresponding losses, thereby providing valuable insights into the state of security within the industry.
This article was prepared by Cardanians with support from Cexplorer.
Read the article: https://cexplorer.io/article/higher-security-is-a-necessity-for-the-growth-of-adoption