What are trustless bridges and what do they bring to DeFi?
These bridges allow two or more separate blockchain networks to talk to each other and share information. The interoperability provided by cross-chain bridges makes it possible to move assets from one network to another.Most bridging technologies use smart contracts on both blockchains to make cross-chain transactions possible.
Smart contracts are automated programs executing certain actions once the conditions are met. Due to this, trustless bridges are seen as a safer alternative since each user maintains custody of their tokens during the transfer process. “It increases the attack surface through blockchains, potential custodians and smart contracts. There are various types of cross-chain bridges, which come with different trade-offs in terms of these risks.” He continued:
“An example could be a bug that allows infinite minting of new bridged tokens. Bridges that trusted custodians operate are subject to counterparty risks if the custodians misbehave or their keys are stolen,” he added. One of the most important measures is to ensure that the smart contract code that forms the core of cross-chain bridges is secure and free from vulnerabilities. This can be achieved through regular security audits, bug bounty programs and code reviews, which help identify and fix potential security issues.
Finally, developing and deploying secure cross-chain bridges requires following best practices, such as secure coding practices, testing and debugging, and secure deployment methods. In doing so, developers can help ensure cross-chain bridges’ security and stability.
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