How dangerous are cross-chain bridges? While it's true that Solana grew immensely in the past year, it also experienced many outages and security exploits.
Jagdeep Sidhu, the chief technology officer of Syscoin, a proof-of-work blockchain network that is “merged-mined” with Bitcoin, spoke to Cointelegraph further on this narrative. He said, “He simply means that where there is a blockchain, there is a zone-of-sovereignty within that chain which has free will on the security of that blockchain. Any time blocks roll back, for example, all systems depending on the security of that chain also roll back.
Even though this particular hack impacted a cross-chain bridge, it is noteworthy that, technically, this was a smart contract exploit, which has been around as long as the concept of smart contracts has existed. Galka stated: Cointelegraph also discussed this aspect of the hack with Anton Bukov, co-founder of the 1inch Network, a DEX aggregator, who mentioned that the cause that led to this hack was a low-level smart contract bug. It was related to the mechanism that Solana used for precompiled smart contract calls. He noted that the bug fix was publiclyon the interoperability protocol’s GitHub repository for more than two weeks before the hack.
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