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Zach Rynes | CLG|Feb 20, 2025 07:51
It’s disturbing how many people turn a blind eye to the fact LayerZero’s Stargate bridge is nothing more than a 2-of-2 multisig
Just an unacceptable level of centralization, especially when billions have been exploited in bridge hacks already
LayerZero calls these signers “decentralized verifier networks” but in practice, in most instances, they’re just a centralized node operator, classic misdirection
But now this centralized infra security risk is spreading to include entire chain ecosystems in its blast radius, described in the quoted blog
Unfortunately most people’s perception of security in crypto is “has it been hacked? No, okay I’m good” rather than analyzing the actual trust properties and architectural design of the protocol
Some protocols play the short-term $$$ pay-to-win incentives game, some are playing the long-term sustainable robust security game
Good luck, just use Chainlink
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