Sentora co-founders questioned the security of the cross-chain bridge ecosystem and suggested introducing an insurance model to guarantee solvency.
TL;DR
Sentora co-founder Jesus Rodriguez criticizes cross-chain bridges as a major security risk in crypto, calling them a centralized point of failure. He advocates for integrating insurance models to ensure solvency and shift the industry from trusting code to providing guarantees.
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According to Odaily Odaily, Jesus Rodriguez, co-founder of Sentora (formerly IntoTheBlock), published an article on the X platform questioning the security of the cross-chain bridge ecosystem. He stated that cross-chain bridges are the biggest single point of failure in the architecture of the crypto ecosystem. From a financial perspective, cross-chain bridges are a huge, centralized pool of custodial risk. The industry has invested billions of dollars in optimizing the speed of cross-chain bridges, but almost no funds have been used to optimize the protection of the transmission itself. Jesus Rodriguez believes that insurance should be an integral part of the cross-chain bridge architecture and proposes two models: a user-centric "atomic encapsulation" model and a protocol-level support model. He points out that cross-chain bridges with solvency guarantees will gain a huge competitive advantage, which will transform the industry from "trusting code" to "providing insurance for state transitions."