Daily View | Saturday January 08

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【LAT】

【Quotes】

【10 days node data】

【Industry News】

Vitalik Buterin : Cross-chain bridges have “fundamental safety limitations”

On January 8, VitalikButerin, co-founder and core developer of EtherChannel, retweeted a link to a Reddit post today in which he discussed his belief in a multi-chain future, but expressed skepticism about cross-chain ecosystems. “VitalikButerin says that in the case of a 51% attack, an attacker cannot propose a block that takes away someone’s ETH because such a block would violate consensus rules and would therefore be rejected by the network. In other words, he believes that even if 99 percent of the computing power is used to illegally take ETH from another wallet, nodes will simply follow the remaining 1 percent of the chain because it is the only set of blocks that follows the protocol rules, so “honest” blocks will always maintain a consistent state. The problem arises when users connect assets from their local blockchain to a non-local blockchain, he wrote: “”If Ether is attacked by 51% and recovers, Arbitrum and Optimism will also recover, so even if Ether is attacked by 51%, the state on Arbitrum and The “cross-rollup” application that maintains state on Optimism is guaranteed to remain consistent. If Ether is not subject to a 51% attack, then a 51% attack will not be able to attack Arbitrum and Optimism separately,” VitalikButerin concluded, adding that he does not see these issues arising immediately, but that as the number of cryptocurrencies held in cross-chain bridges increases, the incentive to attack them will also increase.

PayPal is exploring the creation of a stable dollar-based coin

PayPal is considering launching its own stablecoin as the company grows its crypto business, a PayPal spokesperson confirmed to CoinDesk on Friday. “We are exploring a stablecoin; if we seek to move forward, we will of course work closely with the relevant regulators,” a PayPal spokesperson told CoinDesk in an emailed statement. after developer Steve Moser found in PayPal’s iPhone app The news was first reported by Bloomberg after PayPal explored evidence of building its own stablecoin and shared it with Bloomberg. The hidden code and images show the work of the so-called “PayPalCoin. In its report, Bloomberg notes that the code indicates the token will be backed by U.S. dollars. PayPal has been active in cryptocurrency efforts recently, increasing the number of cryptocurrencies customers can buy and investing in educating users about crypto and working to allow them to securely withdraw cryptocurrencies to third-party wallets.

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