Cross-chain bridges and algorythmic stable coins have no business on Cardano.
can we just ban other cryptos from building bridges to cardano until they all agree to standard smart contract standards
It's like the early internet. There isn't anything that is 100% secure yet. I am confident Cardano will solve this problem. It is just a matter of time. The Bridges to other coins are the major security problem that I see.
I know that interoperability is one of the three pillars of Cardano, but I just don't care anymore. I'm ready for Cardano native everything. It feels wrong exposing Cardano users to the ultra high risk side of ethereum, a blockchain known for "move fast and break things."
really sucks to see cardano's retail investors lose money through an exploit on a bridge on another blockchain. but where there is a benefit (having wrapped usdc, btc & more on cardano l2) there is also the fact that it relies on an entity & contract not on cardano.
We used to vote for all @dcspark_io projects in catalyst with significant portfolios. After the @nomadxyz_ hack I'm against buggy EVM bridges that lurk their way to the Cardano ecosystem.
1/N
Is there going to be some way to achieve interoperability without these shady trollbridge thingies? without these wrappingpapered-IOU thingies?
A bridge connecting @Cardano and @cosmos would be heading towards interoperability ? Does the community validate this project ? The question arises with legitimacy given the number of hacks…#CosmosCardano
I do love Cardano, and yes hopefully nothing like that happens on ADA, but thieves lurk everywhere and will damn try. That bridge hack affected us for sure here on ADA. Does this mean we blow up the bridges and keep to ourselves on our own little island?
What if focusing on interoperability is putting the cart before the horse since it's nearly impossible to determine which (of the 1000s) of chains are worth interoperating with at such an early stage? The focus should first be on security, scalability & governance. In that order.
& @cardano_whale, could #Cardano protocols connected to the hack have audited the bridges?
Or is this a more nuanced fallout?
Was the true vulnerability too many steps removed from the insane reach of it's collateral damage crater?
How do we pursue interoperability?
Every link in the chain will be scrutinized for weaknesses to attack, so every link must be developed for safety. Nearly 50% of all attacks lately are on interoperability layers.
Nomad Bridge (ERC20) breaks yesterday and Solana (no surprises) breaks today
Increasingly bullish on the #Cardano ecosystem, maybe interoperability isn't necessarily what we want?