Top of mind at Shipyard The latest news in crypto is the Nomad bridge hack. It’s especially bad, not just because of the funds lost but because of the existential question it raises for bridging, and a multichain world. Prior to Nomad, nearly all of the bridges that have been hacked used a trusted security model, where funds were essentially secured by a multisig, and users rely on the reputation of the bridge operator to ensure the security of funds. For example, Ronin required 5 out of 9 to...

Top of mind at Shipyard The latest news in crypto is the Nomad bridge hack. It’s especially bad, not just because of the funds lost but because of the existential question it raises for bridging, and a multichain world. Prior to Nomad, nearly all of the bridges that have been hacked used a trusted security model, where funds were essentially secured by a multisig, and users rely on the reputation of the bridge operator to ensure the security of funds. For example, Ronin required 5 out of 9 to...