Ethereum [ETH] holders bridging to L1 & L2 should read this

Blockchain insight firm mentioned that L1 and L2 bridges could be risky for ETH. The wallets provided by Optimism and Arbitrum may not be as safe as intended. The Ethereum [ETH] blockchain, as big as it is, suffers from the challenges of scalability, efficiency, and finalizing transactions. However, the advent of Layer-one (L1) and Layer-two […]

ETH’s market cap in BTC’s terms

But the fraud-proof systems of these protocols were not yet live. Hence, putting ETH holders on the chain at risk of Maximal Extractable Value attacks. The impact has also surfaced at times, as holders have had to pay exorbitant gas fees at some point since users were currently using a centralized block.

However, these rollup chains integrate multisig wallets which seemed to fare better than private keys. But a few hacks have proved that holders might not be able to depend on them. The newsletter pointed out, “Unfortunately, multisig risks are far from ideal. Case in point: The $625M Ronin bridge hack and Harmony bridge’s $100M hack both stemmed from multisig exploits.”Subscribe to get it daily in your inbox.

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