After what seemed like an eternity, Anatoly Yakovenko, co-founder of Solana Labs, and Vitalik Buterin, developer of ethereum, have surprisingly picked up where they left off in discussing bridge security.
Yakovenko Bridge claims to have pondered the issue for a year until he may have stumbled onto the answer.
A social layer of the bridge could be the solution
In late May 2022, blockchain activists were in a dialogue on potentially detecting and preventing efforts to cheat a system that enables funds to move between multiple networks by illegally utilizing the same money multiple times. This system allows funds to move between networks to facilitate transactions.
The conversation between Yakovenko and Buterin came to a standstill at that time. Nonetheless, all parties concluded that, in principle, a social layer of bridge management could address any difficulties.
On the other hand, both individuals admitted that they did not know how safe such a system would be, particularly when subjected to a 51% assault.
Yakovenko proposed a trust-minimized bridge between independent layer 1 blockchains to solve this problem. The design of this bridge ensures that local users can pull their bridged assets back into the local chain, even if the small chain has an unfair majority, withholds data, or conducts a 51% attack. The community well received Yakovenko’s solution.
You may get a comprehensive explanation of Yakovenko’s bridge in a tweet that the co-founder of Solana posted. There should be an auction to choose who can address issues as issues develop. This is the core idea behind the proposed solution.
Also, system customers must hang tight until they get confirmation before accessing their funds. People can file a challenge to get access to their data if anything goes wrong. Vitalik Buterin still needs to respond to the proposition made by his colleague.