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Recently, I’ve seen many people anxiously staring at the unlock calendar, and I’ve been thinking, when it comes to cross-chain, who am I really trusting?
IBC, to put it simply, is about “sending notes” between chains, but for this note to be valid, you have to trust the finality of the source chain (no rollbacks), trust the verification logic of the destination chain, trust the relayer to honestly carry out the transfer without messing around, and even trust that the light client proof implementation is solid.
If you go with traditional bridges/multisig, it’s even more straightforward: trust those few people and their risk controls.
Anyway, I now tend to keep the transfer amounts small when cross-chain, preferring to run multiple times rather than risking handing over my position to a bunch of invisible components just to save a step.
That’s how it is for now.