Recently, people keep asking, "Isn't IBC just sending a package over?" Frankly, when it comes to cross-chain, there's quite a bit you need to trust: both chains shouldn't crash or act maliciously, the light client/verification logic shouldn't be written poorly, the relay layer of transmission shouldn't be messed with (it theoretically can't steal money, but it can block you or trick you into retrying), and on top of that, the application itself shouldn't grant too much authority. Bridges are even more risky—they require trusting multiple signatures, oracles, or custodial contracts. If one component fails, you could end up losing everything instantly. Right now, hardware wallets are out of stock, phishing links are everywhere, and yet some people still complain about the hassle and click on every "cross-chain airdrop"... My personal advice is: think of the worst-case scenario before doing a cross-chain transfer. If you can avoid crossing, don’t do it. And if you must, don’t go all-in.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin