“The best [token bridge] security is achieved by using a combination of standards. This way, if one standard experiences a bug or a security weakness, the other standards can still protect the network,” writes Gnosis co-founder koeppelmann Opinion.
was stolen from token bridge exploits. The worst part is that they could have all been avoided by employing multiple security measures.
A similar reason was reported behind the hack of Slope, resulting in a loss of $6 million for the company.Smart contracts are programs stored in a blockchain set to trigger when certain predetermined conditions are met. In terms of e-commerce, for instance, it’s what confirms to a website that an item should be delivered once you’ve added it to your basket and paid for it.
By using multiple bridge standards at the same time, developers can offset weaknesses displayed in one protocol with the use of another protocol. Let’s look at some cryptographic standards that could be used in combination to add additional layers of security.Multi-sig technology requires the signature or approval of multiple parties before a transaction can be executed. It can prevent unauthorized access to networks and ensure that no single party has complete control.
The integration of ZK models eliminates the need for the committee model by allowing developers to utilize light clients on-chain. By using Zero Knowledge Proof systems and specifically the “Succinctness” property of a ZK-SNARK, it is possible to efficiently perform this verification process using on-chain light clients. It is also possible to verify both state transitions and consensus on-chain for maximum security, similar to running a full node.
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