The journey towards Web3 security infrastructure: An interview with Go+ Security founder Mike
Blockchain presents a grand narrative. Yet, recurring, severe security incidents are like the stains on an otherwise beautiful painting. It turns the blockchain world into a forest of darkness, causing massive financial loss as well as a barrier to the development and application of blockchain on a larger scale. Security, as the basis for all, is an issue that cannot be avoided. As a result, providing security services with a low threshold, low cost, high efficiency, and widespread coverage becomes an absolute necessity.
Recently, Web3 security infrastructure Go+ Security closed multi-million-dollar private funding round from investors including Crypto.com Capital, Huobi incubator, KuCoin Ventures, Arweave, Harmony, Avatar, and Neo.
In an interview with Mike, the founder of Go+ Security, we discussed the platform, Web3 security services, the platform’s role in security development, and much more.
1. Congratulations on the recent funding round! What’s the short-term progress and focus of Go+ Security?
In the short term, Go+ Security will focus on improving risk detection efficiency, optimizing for high concurrency, and launching a beta version of our own DAO. Token detection API, malicious addresses API, and NFT authentication API are all available currently. 50+ projects use our API data to provide security services to their users, including Bitkeep, Li.Fi, Mask Network, Coinbrain, AveDex, MSGSender, etc.
2. What are the differences between security services for enterprises and individuals? What is the focus of Go+ Security? Why?
First, the threshold is different. Generally, enterprises have specialists who can provide complete code, a logical framework, and a smart contract deployment structure, and possess certain abilities to detect and handle risks. This is almost impossible for individual users.
Second, the content is different. Attacks against individuals are more frequent with more attack points and more scenarios in which they may occur.. Scams are the biggest risk, with some not having to rely on any technical implementation at all. This puts higher importance on the security of individual users.
Finally, the approach is different. In light of the typical user’s inability to detect risk and their more complex needs, we should provide them with proactive security services instead of reactive responses.
As a result, Go+ Security is focused on enhancing personal user experiences. Individual investors are ill-equipped to protect themselves against hackers, and yet there is still no adequate security service available for them. Go+ Security believes that individual-level security services will be a direct result of addressing industry pain points.
Currently, Go+ Security’s token security API allows individual users to check token security via one-click submission of contract addresses. The system has detected over 1.1 million tokens, and recieves over 30 million API requests each month.
3. How does Go+ Security work with developers? What’s your role in the security ecosystem?
Go+ provides security data query services to all partners via its API. All developers can quickly access the API via simple HTTP calls and then provide customized security features for their users.
Based on the services of Go+ Security, our partners have developed various use cases, including telegram Bot, cross-chain bridge asset detection, and wallet asset detection. Go+ API has managed to expand its coverage through effective cooperation with developers. Meanwhile, Go+ is also working on the development of multi-chain security monitoring, participating actively in the development of security standards, and building the Web3 security ecosystem.
4. Go+ received support from many leading public chains in this funding round. What’s your take on win-win strategies for all?
For a public chain, security is its bottom line, and the building of the ecosystem determines its future. A severe security incident can be devastating for a public chain’s users as well as its own capital and reputation. Go+ Security offers protection for the public-chain ecosystem with real-time asset risk detection and identification of fraudulent and malicious assets.
At this point, all public chains are focused on building ecosystems to attract more developers and create phenomenal dApps. Go+ Security hopes to provide security services to a wider range of dApps on more public chains and is advancing our multi-chain deployment at a high speed. Currently, our token detection service supports 8 popular public chains, including Ethereum, BSC, Arbitrum, AVAX, and Polygon. We expect to add 7 chains by the end of the year, bringing our security services to 15 chains..
5. Could you briefly introduce your team?
Members of the product team are all experienced experts in the security field, with 10+ years of experience. They have developed and operated several products with over 100 million downloads. All main members have 5+ years of blockchain R&D experience and have launched several security products, including data websites, security-focused wallets, and of course, Go+ Security API.
6. What’s the role of the Security DAO in the Go+ ecosystem? How does it work?
Go+ Security believes that to solve the problem of demand-supply imbalance of security resources, we must better cooperate with other security-focused projects, integrate fragmented services, and improve the efficiency of security services.
The purpose of Go+ Security is to build an underlying cooperation framework through open data, methodology, and service integration so that more security-focused projects can benefit from a clear mechanism to participate in the field. Security DAO will be the foundation of this mechanism, on top of which we are seeking to build an open, transparent, trusted cooperation mechanism with real-world business logic. Go+ Security is the enabler, not the decision-maker, of this mechanism.
For obvious reasons, Go+ Security separates its business mechanisms from its security implementations. The inefficiency of business mechanisms seriously hinders the efficacy of current security services. The front end can’t input valid samples, and the back end can’t assess the effect, so all of these are repeating boondoggles. While we cannot make everything work under a cooperative framework, users will be forced to pay high prices for low-quality services. Using a DAO-based open cooperation framework can enhance the efficiency of business mechanisms.
7. What are your plans or thoughts on the future business model and tokenomics?
Though Go+ Security has not launched its own token so far, its tokenomics is very clear:
- Providers of risk-related information will be rewarded.
- Providers of risk management services will be rewarded.
- Partners that share resources will be rewarded.
The reward factors will be determined by the value of the contribution and its impact on our security services. Go+ Security expects to launch the Security DAO in the third quarter. Stay tuned.
For more information about Go+ Security, visit their official website.
Disclaimer: This is a paid post and should not be treated as news/advice.