6 - DeFi Trust Spectrum
Bankless
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Understanding Backdoors in DeFi Protocols
This chapter explores the implications of backdoors in decentralized finance (DeFi) protocols, highlighting the varying levels of transparency and control they offer. It discusses the importance of managing admin access, the role of time delays in smart contract changes, and the necessity for thorough research on DeFi teams. The chapter also compares DeFi to centralized financial institutions, underlining the value of understanding the spectrum of trust and its impact on the Ethereum ecosystem.
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Transcript
