Vitalik Buterin gives thumbs down to cross-chain applications

Buterin also described how the security make use of could become more hazardous as more cross-chain networks are developed. A theoretical network with 100 chains would have a high level of interdepency. This could lead to a 51% attack on a single chain, particularly a small-cap, and potentially spread the infection throughout the entire system. Crypto 51 quotes that hackers can install a 51% attack vector on the Ethereum network for as high as $1.78 million an hour. For blockchains like Bitcoin Cash, however, the per hour expense is only $13,846.

My argument for why the future is * multi-chain * but not * cross-chain * is that there are basic constraints to security of bridges that cross numerous “zones” of sovereignty. From https://t.co/3g1GUvuA3A: pic.twitter.com/tEYz8vb59b
— Vitalik.eth (@VitalikButerin), January 7, 2022

Buterin stated that cross-chain bridges do not have the very same security level. He gave an example of how an assailant might transfer their own Ethereum onto a Solana bridge (SOL), to obtain Solana covered Ether (WETH), and then reverse that deal on the Ethereum side once the Solana side validates it. This would result in devastating losses for other users whose tokens were locked in the SOL– WETH agreement. The wrapped tokens are not backed by the initial tokens on a 1:1 basis.

Related: Vitalik proposes a new multidimensional Ethereum charge structure
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Vitalik Buterin (co-founder of Ethereum) posted a Reddit message on Friday highlighting important security concerns around cross-chain bridges within the blockchain environment. According to Buterin, native possessions can be kept directly on the blockchain (Ethereum, Solana and Solana, among others).

According to Buterin, native possessions can be kept directly on the blockchain (Ethereum, Solana and Solana, amongst others). If hackers launch a 51% attack to manage 51% of all flowing Ethereum supply, and an investor swaps 100ETH for 320,000 DAI stabilitycoin, the end status remains invariant. He offered an example of how an assaulter could transfer their own Ethereum onto a Solana bridge (SOL), to obtain Solana covered Ether (WETH), and then reverse that transaction on the Ethereum side once the Solana side verifies it. Crypto 51 quotes that hackers can mount a 51% attack vector on the Ethereum network for as high as $1.78 million an hour.

This rule applies to Ethereum applications. If hackers introduce a 51% attack to manage 51% of all circulating Ethereum supply, and an investor swaps 100ETH for 320,000 DAI stabilitycoin, completion status stays invariant. The investor would still get 100 ETH or 320,000 DAI.

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