After Twitter and Instagram, Is Web 3.0 Plagued By Bots?

Twitter and Instagram are not the only companies plagued by bots. A report highlights that 40% of the activity on crypto platforms is derived from bots. The report analyzed over 60 platforms and games and found over 200,000 crypto bots. 

Jigger, a crypto company that deals with bots in Web 3.0 games, performed the analysis.

Web 3.0 Plagued By Crypto Bots

Levan Kverkveila, the co-founder of Jigger, reveals how the analysis for the report was performed. Jigger detects bots and multi-accounts by linking wallets belonging to the same person. A specific algorithm and graph technology help in linking the wallets. 

Kverkveila highlighted the Tiny World game. He tells that Tiny World is a Top 3 game on the BNB chain. Graph analysis of the game shows that 80% of its users are bots. He also reveals that paid services also have bots. 

Levan also revealed other platforms that have bot issues. Mobox, one of the Top-2 gamefi platforms on  Binance has more than 55% bots. Biswap DEX, a cryptocurrency exchange, has 13,000 bots due to a referral service.

Leaven reveals his process for analyzing whether is a crypto bot or not. The users have to send a selfie to prove that they are unique users.

According to the report, games and platforms on Binance Chain seem to be most affected by the bots. 

Ariva digital, a crypto platform built for travel and tourism purposes seems to have 87% bots. 

In response to a question about deep learning being able to generate unique faces, Levan revealed that their algorithm was able to detect deep learning-developed images. 

After Hacks, Will Web 3 Have A Bot Problem

One of the biggest problems faced by Web 3 platforms is hacking. Phishing and malicious activity have plagued exchanges and bridges. If Web 3.0 platforms face a bot problem, it will be a serious blow to the legitimacy of blockchain platforms. Security is one of the biggest selling points of blockchain.

Nidhish is a technology enthusiast, whose aim is to find elegant technical solutions to solve some of society’s biggest issues. He is a firm believer of decentralization and wants to work on the mainstream adoption of Blockchain. He is also big into almost every popular sports and loves to converse on a wide variety of topics.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.