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.
- Bitcoin Edges Higher as Fed Chair Jerome Powell Fails to Comment on Monetary Policy
- Flare Network Surpasses $43M in Bridged XRP, Expert Predicts Breakout to New ATH
- Bitcoin, Ethereum Drag Broader Crypto Market Lower Ahead of FED Powell Speech
- Breaking: Ripple Partners With Bahrain’s Fintech Bay in Push for RLUSD Adoption
- XRP News: Why Whales Sold 440M Coins in a Month Despite ETF Launch Buzz
- Solana Price Prediction as SOL DAT Company Plans 5% Supply Acquisition—Analyst Targets $1,300 Breakout
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
