Chainlink Enhances Bridge Technology After Security Concerns
- LayerZero criticized Kelp for using a single verifier, while Kelp claimed LayerZero approved their setup.
- CoinGecko reported that nearly half of active LayerZero applications also utilized a one-verifier system.
- Chainlink’s CCIP 2.0 allows companies to run their own verifiers or hire external providers like Infosys and Nethermind.
- The upgrade has removed the Risk Management Network, which previously double-checked transactions.
- Existing Chainlink users were automatically transitioned to the new version without naming specific institutions adopting the new features.
The recent developments highlight ongoing security concerns in cross-chain transactions, particularly after a $292 million hack at a competitor exposed vulnerabilities in bridge infrastructure.
With nearly half of LayerZero apps using similar one-verifier setups, Chainlink’s updates aim to enhance security and flexibility for users in decentralized finance (DeFi). (Source)
