I just saw a news story about another bridge incident, and the more I read, the more it’s just tears. As for cross-chain bridges, to put it bluntly, they amount to putting your trust on a handful of multisig signers plus an oracle: who exactly those multisig signers are, how the keys are distributed, and whether the signing parties are independent—these things are often a black box. The oracle side is even crazier: the price feed source is usually just one or two, and if it goes down, everyone gets stuck at the same time, and nobody knows why. I’m an old-school person, so I still prefer the “wait for confirmation” approach—even if it’s slow, at least on-chain consensus is transparent, and if something goes wrong, you can still hold parties accountable. Now social mining and fan tokens are all the rage—things like “attention is mining”—it sounds pretty exciting, but if the underlying protocol isn’t solid, then no matter how much “attention” gets piled on top, it’s still a castle on sand. Anyway, whenever I run into a bridge-type project, my first thing is to check the price-feed sources and how often they update; everything else can wait.

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
  • Pinned