on over 70% of smartphones, tablets and other mobile devices globally — it’s clear that the modern internet as we know it is massively influenced by open-source systems.
Of course, the pervasive presence of open-source code extends to Web3 too. Public blockchain networks, including both Bitcoin and Ethereum, often cite their open code roots.The problem is, more transparency does not necessarily ensure greater security. Sure, the popularity of Linux has done wonders for open-source code and has certainly improved its security.
In many respects, the scrutiny of open-source code is akin to a public good in economics. Like any publicly accessible resource like clean air or public infrastructure, everyone benefits from it. However, individual users may be tempted to use the resource without contributing to its maintenance costs. In this analogy, “free riding” means using an existing codebase while assuming someone else will invest the effort and time to check it for vulnerabilities.
Last year became known as the year of the cross-chain bridge hacks. Those hacks were clear warning signs that the sprawling and loosely coordinated development of an allegedly transparent Web3 still rests on a knife’s edge. The upside of the Web3 development community is their eagerness to share, adopt and build. The downside is the potential for enormous damage from the free rider problem. By assuming others’ solutions can be relied upon to mix and match, attack surfaces and smart contract dependencies become too difficult to track.
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