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I join Across community seveal months ago, I’d like share something about it.
Across is a bridging method that uses bonded relayers, single-sided liquidity pools and UMA’s Optimistic Oracle, which when put all together allows for decentralized, instant transfers. Across’ cross-chain bridge allows you to return assets to Ethereum Mainnet, L1, in a cheap, secure and quick manner.
Here are some major security perks that go with Across using the Optimistic Oracle:
No singular admin or key master
Anyone can request a price or dispute an answer. Utilizing the Optimistic Oracle means that no one or thing has a centralized, decision-overriding power that could enable corruption.
Simple reward system to incentivize correct voting
If you’re correct? You receive $UMA inflation rewards generated by the protocol. Incorrect? No reward and perhaps a large amount of FOMO.
Decentralized kill switch
UMA voters can ignore or block clearly malicious or spam-like requests. In addition to this, spam-like requests that would aim to flood the system are unlikely in the first place, as it costs money for each DVM price request.
Token holder incentives
Investment-wise, token holders are incentivized to vote correctly because if the system tanks, so does their investment. In particular, very large UMA holders are especially disincentivized to act dishonestly, because they would tank the price of the token if they ever corrupted the vote.
UMA Engineer, Nick Pai, summed up his trust for Across and its voting system by stating, “As an engineer, I would trust Across because the contracts are simple and all the security is resolved off-chain, through the human network of voters. I’m comforted by the simplicity of the on-chain code and the security of the economic incentives.”
To tie all of these points together, the Optimistic Oracle provides guarantees that no one can successfully hack this system without it costing them more money than they could make.
The Optimistic Oracle is mostly secured by economics. The code is simple because it automatically assumes that the DVM will return the correct price and that humans will resolve things accurately. You’re betting on the UMA voters and as the past has shown, that’s a very safe bet to make.
Risk Labs, the team that is responsible for writing the code for the UMA Protocol, has historically built high-quality products, showcased by their strong audit reports. UMA Protocol has a history of working on security, not taking shortcuts and emphasizing decentralization. It has never been exploited.
I join Across community seveal months ago, I’d like share something about it.
Across is a bridging method that uses bonded relayers, single-sided liquidity pools and UMA’s Optimistic Oracle, which when put all together allows for decentralized, instant transfers. Across’ cross-chain bridge allows you to return assets to Ethereum Mainnet, L1, in a cheap, secure and quick manner.
Here are some major security perks that go with Across using the Optimistic Oracle:
No singular admin or key master
Anyone can request a price or dispute an answer. Utilizing the Optimistic Oracle means that no one or thing has a centralized, decision-overriding power that could enable corruption.
Simple reward system to incentivize correct voting
If you’re correct? You receive $UMA inflation rewards generated by the protocol. Incorrect? No reward and perhaps a large amount of FOMO.
Decentralized kill switch
UMA voters can ignore or block clearly malicious or spam-like requests. In addition to this, spam-like requests that would aim to flood the system are unlikely in the first place, as it costs money for each DVM price request.
Token holder incentives
Investment-wise, token holders are incentivized to vote correctly because if the system tanks, so does their investment. In particular, very large UMA holders are especially disincentivized to act dishonestly, because they would tank the price of the token if they ever corrupted the vote.
UMA Engineer, Nick Pai, summed up his trust for Across and its voting system by stating, “As an engineer, I would trust Across because the contracts are simple and all the security is resolved off-chain, through the human network of voters. I’m comforted by the simplicity of the on-chain code and the security of the economic incentives.”
To tie all of these points together, the Optimistic Oracle provides guarantees that no one can successfully hack this system without it costing them more money than they could make.
The Optimistic Oracle is mostly secured by economics. The code is simple because it automatically assumes that the DVM will return the correct price and that humans will resolve things accurately. You’re betting on the UMA voters and as the past has shown, that’s a very safe bet to make.
Risk Labs, the team that is responsible for writing the code for the UMA Protocol, has historically built high-quality products, showcased by their strong audit reports. UMA Protocol has a history of working on security, not taking shortcuts and emphasizing decentralization. It has never been exploited.
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