Web3 Security Roundtable Focuses on Wallet and Custody Security

Recently, a roundtable forum focusing on "Web3 Wallet and Custody Security" was held at the Global Web3 and AI Summit. The forum explored building a more secure and scalable Web3 asset protection mechanism from the underlying perspective of hardware and system software.

The guests participating in the discussion include executives and founders from several well-known technology companies. They engaged in an in-depth discussion on topics such as Web3 user security pain points, advanced accomplice architecture, and the challenges and breakthroughs of the open-source ecosystem.

The forum host pointed out at the beginning: "The security of private key custody and Web3 Wallets highly depends on the security of devices and hardware, but discussions on the underlying system and hardware security are not common." He emphasized that current discussions on Web3 security often focus on on-chain protocols and smart contracts, while the decisive role of underlying hardware and system architecture is often overlooked.

An expert from a renowned technology company shared the technical architecture of his team's high-security digital asset custody, including partitioning and cold storage signing processes based on EAL5+, and specifically introduced how the offline signing orchestrator system supports bank-level custody services.

Another guest at the conference approached the issue from a practical perspective, pointing out that the existing custody models "custodial" and "self-custody" both expose systemic risks through case studies. He further introduced a solution based on "distributed custody" and MPC-TSS technology, emphasizing the application value of flexible and scalable signature structures for both enterprise and individual users.

A founder focused on deep computing began by discussing the practical challenges of open-source technology, sharing his team's practical experience in multi-terminal computing and local security isolation, and calling on the industry to think more systematically about the openness and trustworthiness of the underlying architecture while ensuring user experience.

The CEO of a secure solutions provider, combining years of experience in hardware security modules (HSM) and key management, analyzed the key bottlenecks and countermeasures in current hardware custody solutions. He stated that hardware trust boundaries are crucial when building global digital asset infrastructure.

In discussions about the future forms of Web3 Wallets, guests generally believe that composable, modular multi-signature architectures will become the mainstream trend, and balancing user experience with security is the core challenge. The host added: "Financial companies have become accustomed to using dedicated hardware (such as HSMs) for private key and signature management; relevant security evaluations, such as EAL and FIPS, are also widely accepted by regulatory agencies. However, these evaluations are not specifically aimed at verifying the security of blockchain signature implementations, so the level of security these systems provide for digital assets still needs to be audited by professional blockchain security companies." He pointed out that "accomplice" is essentially an architectural design issue rather than a single technology stack. An ideal custody solution should effectively prevent misuse through system mechanisms while ensuring users have moderate operational freedom.

In addition, regarding the role of open-source software in Web3 hosting, the guests expressed a cautious yet optimistic attitude. One guest pointed out the legal gaps and market barriers faced by open-source chip design, calling for the industry to advance further in security and transparency. Another guest also discussed how to achieve module-level open-source isolation without sacrificing performance, starting from the perspective of operating system-level security.

At the end of the forum, the host summarized: "The underlying technology of private key custody and Wallet is still continuously evolving. We look forward to providing verifiable and user-trusted security solutions through cooperation from all parties in the future."

This roundtable forum provides a new perspective for the Web3 security field, emphasizing comprehensive security considerations from underlying hardware to system architecture. With the continuous development of Web3 technology, the industry looks forward to offering more comprehensive and reliable security solutions for developers, businesses, and regulatory agencies through cross-layer collaboration.