When it comes to implementing new technology or a system on a large scale, there are a lot of factors that one needs to rope in before making an assortment in the viability of the product. There need to be several amount or numbers of tried and tested methodologies that will help you retain the technology intact and ensure that the security measures of the technology are not compromised no matter what. Now there are a lot of interesting backlogs that arise upon the release of new technology and one of the most major and biggest problems would be less resistance to Ethical or non-ethical hacking.
What are we dealing with?
Many of the applications and servers that are being set up on the basis of the crypto technology have to be run through a series number of tests and trials to ensure that the technology would not breakdown at the start of an infiltration. Many of the applications that are promoting or working on the concept of Decentralized Finance (DeFi) need to make one thing clear, they will have to rudimentarily strong in the ways that they implement the technology on the larger scale.
This is with regard to the latest set of events that are unfolding in the space with the suspension of a smart contract due to the possible attack from a hacker costing the contract holder a loss of nearly 1200 ETH that is quite the number when you convert it into actual money.
Many of the experts of the realm claim that this is mainly due to the presence of single point master access to such systems. they say that when such powerful technologies are being protected by a single but heavily secured pathway, it is immensely easy for the hackers to find a way into the system and get away with all the digital assets stored inside. The experts claim that one door access is an easy target to hit with a repeated number of strikes.
Many other enthusiasts in the field feel that the technology needs more testing and definitely would require more and more aggressive methods of testing to prevent it from being one of the most prominent bounties with a multi-million dollar take away attached. Many of the experts feel that once the validation is done, then only is the way in which many of the investors can confidently invest in such ideas.