Thursday, March 28, 2024
HomeAltcoinsButerin introduces "shared security zone"

Buterin introduces “shared security zone”

Buterin introduced the concept of shared security. He argued that these shared chains can protect the cryptocurrency a little better.

Recently, the founder of Ethereum Vitalik Buterin introduced the concept of shared security stating that hackers could attack a small network by purchasing a token or more than half of the token. He argued that independent L1s and side chains could lose everything. Buterin said the rollup was much safer and the assets could not be stolen because the rollup used evidence to validate the event. Buterin suggested that assets issued on one platform and then used in other chains could pose a security risk. He states: “This means” shared security”.

The founders of Ethereum also shared a chart detailing the various combinations consisting of maximum and minimum security for asset holders. He added that Optimism, Arbitrum, ZkSync, and StarkEx [Rollup Mode] are already backed by Ethereum. However, Avalanche and Ethereum Classic did not fall into this “shared security zone”. 

The creator of Ethereum strongly criticised the Bitcoin Satoshi Vision (BSV). He called the  BSV/BSV security setup chain “weak”. Buterin said the proof-of-work consensus mechanism and large blocks make the chain “easy to attack.” In this regard, the Bitcoin Satoshi Vision is not the only one to be criticized. Earlier, Buterin criticized Bitcoin Cash (BCH) and said it was “basically a failure.” However, the reason was not the security of BCH, but  the community of the project.

Read more:

Vaishali Goel
Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

three × two =

- Advertisment -

Most Popular