The increasing trend in Web3 developments toward creating customized crypto algorithms is risky due to the high-security requirements, with a 99.9% success rate in thwarting thefts still insufficient. Even secure, well-understood cryptographic algorithms can present security threats if implemented incorrectly. The mismanagement of cryptographic keys is a recurring issue causing significant financial losses. Even theoretically sound and well-executed systems can fail due to flawed deployment. Implementing unnecessary advanced cryptographic techniques, while attractive, can introduce risky complexity. It's advisable for anyone looking to invest in a project to carefully assess the provided information and the responses to security-related queries.
Read in-depth analysis on this topic at: https://theweb3.news/crypto/why-most-web3-teams-are-flirting-with-disaster-by-ignoring-cryptography-best-practices/
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