Shauli Zacks
Published on: December 10, 2024
SafetyDetectives recently had the opportunity to interview Artyom Harutyunyan, a passionate Web3 evangelist, founder of Blockstars—a pioneering Web3 development company—and co-founder of the Web3 Armenia Foundation. With a strong technical background, Artyom empowers businesses and individuals to leverage the transformative potential of Web3 technologies. As a respected voice in the Web3 space, he actively shares his knowledge through speaking engagements and mentorship, driving forward the global Web3 revolution.a
As an expert in the Web3 field and co-founder of the Web3 Armenia Foundation, how do you view the current state of Web3 adoption globally and in Armenia specifically?
Global adoption of Web3 is progressing steadily, though at a slower pace than it ideally should, given its transformative potential. The trajectory resembles the early adoption curve of the internet. In Armenia, despite challenges such as pressure from the central bank, Web3 adoption is thriving. The country boasts innovative technological startups, and its Web3 ecosystem is competitive and even more advanced compared to neighboring countries, where governments are often more supportive of startups. Armenia’s resilience and talent pool make it a standout in the region.
What motivated you to establish Blockstars, and how does the company contribute to advancing Web3 technologies?
My career as a cryptographer shaped my passion for blockchain. Reading Ethereum’s whitepaper was a pivotal moment; I realized this was my calling, leading to the gradual establishment of Blockstars. Our company specializes in outsourcing for pure Web3 projects while also creating in-house solutions. Web3 is at the core of everything we do, and we uphold the ethos of decentralization in all our projects. Beyond outsourcing, we build proprietary products to accelerate Web3 adoption and innovation.
Security remains one of the biggest concerns in the Web3 space. What do you see as the most significant vulnerabilities currently affecting decentralized platforms?
Web3’s strength in decentralization is also its greatest vulnerability. In Web2, a bug—such as one in a banking system—can typically be fixed with corrective measures. In Web3, a single flaw in a smart contract can result in irreversible financial loss. This immutable nature of blockchain technology underscores the importance of rigorous security practices and emphasizes why security remains a critical challenge in this space.
How does Blockstars address these security challenges in its own products, and what best practices do you recommend for other Web3 developers?
A common misconception is that Solidity is easy to learn, especially for developers experienced in languages like C++. However, failing to grasp the architectural differences between Web2 and Web3 often leads to significant security vulnerabilities. At Blockstars, we ensure our team is well-trained and up-to-date on the latest vulnerabilities. Additionally, all our products undergo mandatory security audits, regardless of how robustly they are built. We frequently collaborate with Hexens, an Armenian company recognized as one of the best security auditors in the Web3 space. This meticulous approach ensures our products maintain the highest security standards.
As Web3 continues to evolve, how do you foresee security threats adapting to newer technologies like decentralized identity or cross-chain interoperability?
While Web3 is often touted as more secure than traditional systems, it shifts the responsibility of security from corporations to individuals. For instance, managing decentralized identities requires users to safeguard their own data. Mistakes, such as using devices without adequate protection, can lead to severe and irreversible consequences, such as identity theft. As technologies like decentralized identity and cross-chain interoperability evolve, the security landscape will continue to demand a higher level of user education and responsibility, alongside advancements in protective measures.
What role do you believe collaboration between Web3 organizations, like Web3 Armenia Foundation, and cybersecurity experts plays in ensuring a safer decentralized ecosystem?
Collaboration is vital for building a robust and secure decentralized ecosystem. Web3 Armenia Foundation actively partners with cybersecurity experts to stay ahead of emerging threats and foster a culture of security. For instance, working with leading firms like Hexens allows us to leverage their expertise for security audits and knowledge sharing. Such partnerships are essential to address vulnerabilities proactively, educate the community, and collectively strengthen the Web3 infrastructure.
