Vulnerabilities of existing cross-chain protocols. Unfort | 🇬🇧 EYWA Announcements
Vulnerabilities of existing cross-chain protocols.
Unfortunately, the existing cross-chain protocols are far from ideal in terms of reliability. Almost every cross-chain platform released today has been successfully attacked at least once. And the root of this problem is in the architecture of oracle networks used. Developers often choose the simplest solution, which creates additional risks.
With systems using centralized oracles, everything is simple and obvious - they are the easiest to create and they have high flexibility, but a single point of failure, the oracle, makes such systems extremely vulnerable to attacks.
The use of PoS/POA MPC blockchain significantly limits the number of nodes in the network, which does not allow for reliable network protection. The situation becomes even worse when the operation of the cross-chain protocol is provided with custodial liquidity. This effectively turns the cross-chain protocol into a distributed liquidity repository with a small number of nodes.
EYWA uses Roll-DPoS MPC sidechain and non-custodial liquidity. Node holders receive awards based on the DPoS principle and form a single threshold BLS signature, which is used to sign the transmitted data. At the same time, the Roll-DPoS algorithm eliminates the problem of scaling the classic DPoS by applying the lottery principle and equal opportunities for all participants.
Yes, of course, the structure of the oracle network chosen by EYWA is the most difficult to implement. However, only it can provide a sufficient level of decentralization and network security by eliminating the main attack vectors.
Eywa.fi team
