ucelink (@ucelink) • Hey
ucelink (@ucelink) • Hey
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When blockchains and smart contracts first launched, they had a problem. Like a computer lacking access to the Internet, blockchains and smart contracts couldn’t interact with the real world. They were isolated. The solution? Chainlink. https://blog.chain.link/what-is-the-blockchain-oracle-problem/
To date, ~$2.5B has been hacked from wrapped token bridges, with ~null.3B taken this year alone. But with $4B+ in monthly volume, it's clear that cross-chain token bridges are still in high demand. Ensuring a high bar of security and transparency should always be the top priority. Many developers of bridges focus solely on their wrapped token's core architecture under ideal circumstances. But with such security-sensitive infrastructure, a defense-in-depth approach must be employed. Transparency + safety is a must, not optional. Builders must ask themselves: If the worst-case scenario occurs, how can I help mitigate outcomes like: • Contagion risk • User-builder information asymmetry • Infinite mint hacks The answer is Chainlink Proof of Reserve (PoR). Discover how ⬇️ https://blog.chain.link/proof-of-reserve-for-wrapped-tokens/
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