Vitalik Buterin mentioned a few tests at the EthCC that could be used to test whether a firm in the crypto-space is durable and secure enough to survive various attacks.
He was a solitary man during his entire lifetime. speech Ethereum is (ETH) co-founder Vitalik Buterin This article highlights several ways that users and developers can determine whether or not a crypto company is as safe and secure. decentralized They are not what they say.
He mentioned the first test as being the “walkaway test,” It was a question about whether assets owned by users are safe even if the server and company suddenly disappear. On-chain is a great way to ensure that users’ assets will be safe, as they won’t all reside on one single server.
“This is like the most baseline thing that you should be trying to get out of your assets being on-chain instead of your assets being on a server,” Buterin spoke at the EthCC
When he spoke of the “privvy embedded wallets” They are a good example of security because they give users the option to export keys from one device into another. wallet Instead of keeping the data in just one place.
Farcaster was another example of a decentralized protocol for social media built on blockchain The technology allows the user to use a second address (such as an Ethereum account) for their social media account.
“The reason why this is amazing is because they’re for fulfilling the goal of decentralization, not just as a thing that they say they have because they’re on-chain,” Buterin, said
Next, he will test you on something that he refers to as the “insider attack test,” Which poses the question: How much damage can an employee inside a company or even the founder do?
Buterin stated that developers should evaluate weak points not only from the outside, but also from the inside. The weak points could be smart contracts, the UI or the oracle The top token holders in governance
“A lot of projects in the ecosystem, I think, have been doing a great job of seriously thinking about these issues. But it’s something that we really need to insist on much more as a first-class property,” Buterin spoke at the EthCC
The trusted computing base is another test that you can use. Buterin invites EthCC attendees to think about how many “lines of code are you trusting not to rug you.” In essence, the less trusted code lines that are present, the better the security of the system. According to him, it’s fine if a system contains millions of lines. It’s the same if most of your code is sandboxed, or restricted to only perform critical functions.
If the TCB, however, is so bloated that it cannot be audited by anyone, even those systems which claim to have no trust are actually based on trust.
Buterin urged builders to “analyze the properties of the game” The system will create. He said that even though a protocol was designed to be neutral and decentralized, it could still become centralized, if the incentive is for convenience via centralized solutions.
Decentralization is not possible without decentralized solutions.
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Source: crypto.news
