The previous few years have plagued the decentralized finance (DeFi) area with hacks, making critics of blockchain expertise take a better take a look at how this expertise is threatening safety. This 12 months began off with a US$600 million hack on Axie Infinity’s Ronin sidechain, adopted by a US$325 million assault on Solana’s Wormhole, each of which had been brought about due to the AMM (computerized market maker) cross-chain bridges backing each protocols. It occurred once more simply days in the past when hackers stole US$100 million from Concord protocol’s Horizon cross-chain bridge in an identical assault. These hacks are sparking dialog round whether or not there are different sorts of bridges that may higher shield in opposition to such vulnerabilities. This piece goals to explain the totally different sorts of bridges and clarify why peer-to-peer-powered bridges are a superior selection for safeguarding finish customers and permitting the DeFi trade to mature.
Full story : Are we helpless against attacks on blockchain bridges?
