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Cydia Dev Discloses Ethereum L2 Bug — Optimism Attacker Could Have ‘Printed an Arbitrary Quantity of Tokens’

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Ethereum Co-Founder Vitalik Buterin Discusses Proposal to Alleviate Network’s Congestion, High Fees

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Vitalik Buterin to Use $100 Million From Crypto Relief’s SHIB Funds to Accelerate Covid Relief Efforts

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‘It Was Scary And Fun’: Ethereum’s Vitalik On How He Dumped Nearly $7 Billion Worth Of Shiba Inu Tokens

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If you thought dumping billions worth of unsolicited tokens that arrive in your wallet was easy, you’re wrong. Just ask Ethereum co-founder and developer Vitalik Buterin, who had to get rid of Shiba Inu (SHIB) tokens worth almost $7 billion. The Breakdown Of Vitalik Buterin’s SHIB Movements  Speaking to Cobie and Ledger on a Thursday […]

ETH 2.0 Contract Surpasses 9 Million Ethereum Worth $28 Billion

The number of ether locked in the Ethereum 2.0 contract has exceeded 9 million ethereum or more than $28 billion using today’s exchange rates. The amount of ethereum locked into the contract has increased 22.29% since the first week of September 2021, when the contract held 7.4 million ether. Ethereum 2.0 Contract Exceeds 9 Million […]

Vitalik Buterin Asks Twitter Followers Which Crypto They Prefer to Overtake Ethereum — Cardano, Tron Favorites

Vitalik Buterin Asks Crypto Twitter Which Currency They Prefer to Replace Ethereum — Cardano and Tron WinnersEthereum co-founder Vitalik Buterin set up a pair of polls on Twitter asking his followers if 80% of all transactions and savings in the year 2035 are in one currency and it is not ether, which currency they would prefer it to be. He asked them to choose from a number of cryptocurrencies including bitcoin, […]

Industry players respond to Vitalik Buterin’s thoughts on cross-chain ecosystems

“Interdependence between chains could create a domino effect that impacts multiple ecosystems if a single chain were to be attacked, but that certainly isn’t a reason to stop working on cross-chain innovations,” Komodo’s CTO Kadan Stadelmann told Cointelegraph.

Last week, Vitalik Buterin, Ethereum (ETH)’s co-founder, voiced his disapproval regarding the emergence of cross-chain bridges, citing security vulnerabilities due to their interdependency. In the days that followed however, developers working on cross-chain technologies largely dismissed his skepticism. In a statement to Cointelegraph, Kadan Stadelmann, chief technology officer of atomic swap blockchain Komodo, responded to Vitalik’s critique:

“What we ultimately need is true decentralization. For example, instead of relying on one or two trusted bridges that have a single point of failure, it would be better to work towards a future where we have numerous bridges that are secure, trustless, and censorship-resistant.”

Erik Ashdown, head of ecosystem growth at data analytics and blockchain indexer Covalent, concurred:

Vitalik is a smart cookie who’s clearly done his thinking about the state of bridges. However, his saying that bridges are a bad idea and won’t work is the equivalent of the Bitcoin community in 2015 saying Ethereum and smart contracts were a bad idea.

Stadelmann further reiterated that “cross-chain interoperability is the future” and that both multi-chain ecosystem networks like Polkadot (DOT) and Cosmos (ATOM), as well as atomic decentralized exchanges, could disrupt the economic size of Ethereum. In supporting the claim, Stadelmann cites expensive gas fees on the blockchain as to why users would prefer alternatives.

Nevertheless, there are unresolved issues surrounding cross-chain blockchains. Ashdown cites one example of the composability of a smart contract, where sending a token across one bridge will not have the same contract address if it crosses from another bridge. This means that anyone else sending a token across another bridge will not be able to interact with the original tokens sent from the main bridge.

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