The Limitation of Externally Verified Systems

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The verification mechanism underlying the root of trust a has no bearing on what messages can be sent. The risk we run with externally verified systems is there couple, but the two that stand out to me are if you're sending messages from cha changby, say, itherium, to a avalanche. And so i'm wary of a growing and honest majority as the only way to improve the security of costian message. But if we do things, i'd introduce an exogeneous asset validator bridge. Now were basically saying that the value of that exogeneous asset means to scale with the amount that the bridge secures.

Bridges are critical to a omni-chain future, but the recent bridge hacks totaling $1 billion lost in funds have struck fear in users and many are worried about the security of bridges.

Can Nomad's security-focused bridge be the answer? Founder Pranay shares with us:

Is there a difference between bridges and interoperability protocols?
What is the interoperability trilemma?
What are the different types of bridges available
Why is Nomad potentially the safest?

Host: Jason Choi @mrjasonchoi . Not financial advice.

------------ Timestamps -------------

(00:00:00) – Introduction

(00:01:38) – Pranay's Background

(00:03:58) – 3 Overarching Types Of Interoperability Protocols

(00:11:12) – Bridges vs Interoperability Protocols

(00:19:03) – Recent Bridge Exploits

(00:27:11) – Nomad's Optimistically Verified System

(00:30:28) – Nomad's Latency Trade-Off For Security

(00:39:29) – Current State Of Bridges And Competition

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Guest

Pranay's Twitter: https://twitter.com/pranaymohan

Nomad's Twitter:https://twitter.com/nomadxyz_

Nomad's Website:https://www.nomad.xyz/

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Blockcrunch Twitter: https://twitter.com/theBlockcrunch

Jason Choi’s Twitter: https://twitter.com/mrjasonchoi

------------ Disclosures -------------

Disclaimer: The Blockcrunch Podcast is an educational podcast and newsletter for informational purposes only. The host invest in cryptoassets actively and may hold assets discussed in the newsletter or podcast. All content contained within this podcast is intended for educational purposes only and should not be construed as any form of financial advice. The Blockcrunch Podcast, its associates and affiliates are not liable for any decisions third parties choose to make.