A Social Layer Solution for Bridge Security: Solana’s Yakovenko and Ethereum’s Buterin in Debate
After what seemed like an eternity, Anatoly Yakovenko, co-founder of Solana Labs, and Vitalik Buterin, co-founder of Ethereum, have resumed their discussion on bridge security.
In late May 2022, blockchain activists engaged in a dialogue on detecting and preventing fraudulent attempts to utilize funds multiple times within a system that enables transactions between multiple networks. This system allows for the movement of funds between networks to facilitate transactions.
The conversation between Yakovenko and Buterin came to a standstill at that time. Nonetheless, all parties concluded that, in principle, a social layer of bridge management could address the difficulties.
However, both Yakovenko and Buterin admitted that they were unsure about the safety of such a system, particularly when subjected to a 51% assault.
Proposing a Trust-Minimized Bridge Solution
Yakovenko proposed a trust-minimized bridge between independent layer 1 blockchains as a potential solution to this problem. The design of this bridge ensures that local users can pull their bridged assets back into the local chain, even if the small chain has an unfair majority, withholds data, or conducts a 51% attack. The community has responded positively to Yakovenko’s solution.
You can find a comprehensive explanation of Yakovenko’s bridge in a tweet posted by the co-founder of Solana. The proposed solution revolves around holding an auction to choose who can address issues as they arise, which is the core idea behind Yakovenko’s proposition.
Furthermore, system customers must wait for confirmation before accessing their funds. In case of any issues, people can file a challenge to gain access to their data. Vitalik Buterin has yet to respond to the proposition made by his colleague.
The ongoing debate between Yakovenko and Buterin highlights the importance of bridge security in facilitating transactions between different blockchain networks. Yakovenko’s proposal for a trust-minimized bridge with a social layer solution has gained attention from the community, but further discussions and responses from stakeholders are needed to determine the viability and safety of such an approach.