Vitalik Buterin gives thumbs down to cross-chain applications -Breaking
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Vitalik Buterin (co-founder) of Reddit posted Friday’s Reddit posting.ETH), These are the pointsThere are critical security concerns regarding cross-chain connections in the Blockchain ecosystem. Buterin stated that native assets stored on-chain directly (Ethereum on Ethereum and Solana) is a good option. This provides some degree of security. Immunity to 51% of attacks. Even hackers can censor and reverse transactions but they are unable to propose blockades to remove crypto.
This rule applies also to Ethereum applications. An example: If hackers launch a 51% hack (controlling 51% all circulating Ether supply), and an investor exchanges 100 Ethereum for 320,000 DAI stablecoins, the end status remains unchanged, meaning that the investor would still get 100 ETH, or 320,000 DAI.
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