As Web3 adoption accelerates, the demand for robust security solutions has never been more urgent. Over $2.3 billion was lost to hacks in 2024 alone , highlighting persistent vulnerabilities in decentralized applications and blockchain ecosystems. This growing threat underscores the need for cutting-edge security measures which are critical to sustaining trust and innovation in the blockchain industry .
India has emerged as a key player in the global Web3 space. The country’s share of the Web3 developer base has surged from just 3% in 2018 to 12% in 2024. Also, since 2023, India has onboarded the most new crypto developers, moving past the US, reflecting increased interest and expertise in blockchain technology. As more Indian developers and startups build on decentralized platforms, the demand for scalable and AI driven security solutions to protect smart contracts and blockchain infrastructure has also intensified.
Traditional smart contract auditing methods are often slow, expensive, and limited in scope, leaving room for critical security gaps. Recognizing this challenge, CredShields, a blockchain security firm, has introduced SolidityScan, an AI-powered security solution that automates smart contract auditing.
“Security vulnerabilities in smart contracts can lead to devastating financial losses. SolidityScan offers a scalable, real-time, and cost-effective way to detect and mitigate these risks before they can be exploited. Unlike traditional audits , SolidityScan instantly analyzes smart contracts with its 450+ AI powered vulnerability detectors for weaknesses, enabling developers to focus on innovation without compromising security,” said Shashank, co-founder of CredShields.
With blockchain adoption increasing across finance, gaming, and decentralized governance, cybersecurity remains a major concern. “The decentralized nature of Web3 makes it both powerful and vulnerable. SolidityScan is designed to provide proactive, AI-driven security solutions that adapt to evolving threats,” said Indranil, co-founder of CredShields.
By integrating automated security tools like SolidityScan, businesses and developers can mitigate risks and strengthen trust in blockchain-based platforms. As Web3 continues to expand, the role of AI in securing decentralized ecosystems will be indispensable in preventing financial losses and fostering sustainable growth.