Blockchain Bridge, Security and what’s special about the Connext Bridge.

Can Bridges get hacked?

Both decentralized finance and even centralized solutions are susceptible to hacks. Crypto exchanges like Binance and Kucoin and several others at a point in time and decentralized lending and borrowing protocols and other innovations have seen their liquidity pools drained by hackers who exploit the errors or mistakes of the system. Bridges are not in any way different.

Image source: coindesk.com

Connext and how to be safe using Crypto bridges.

One major uniqueness of the Connext bridge is its interoperability with more than 15 supported Layer 1 and Layer 2 protocols including Solana, Evmos, Ethereum, Polygon, Optimism, Arbitrum, and Moonriver, and several other chains with so many others to be integrated into the nearest future.

Conclusion.

Systems tested and protocols audited in the past have witnessed hacks and reasons why there is so much call for regulations in the decentralized finance space. Nevertheless, while using these protocols, users are advised to engage in practices that help safeguard their assets such as ensuring the URL being visited is not misspelled and wallets being connected to bridges have no faults or concerns of hacks.

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MichaelJerry

MichaelJerry

I create simple and easy to understand contents on Blockchain, Cryptocurrency and Marketing helping Africans learn about digital opportunities and leverage.