TL;DR
Full Story
Let’s acknowledge an ongoing downside:
(And no, it isn’t Seb’s new discovered behavior of working the phrase ‘rambunctious’ into skilled communications for fun – although that may be a downside…)
It is the continued switch hacks in Web3.
Many individuals would argue that hacks are simply the teething problems with a brand new business — and they’re! However clearly, they should be stopped ASAP.
One answer is to create a decentralized change (DEX) that makes use of atomic swaps to facilitate exchanges.
…cool — what the heck does that imply?
Think about this: You’re within the fourth grade and are planning to commerce baseball playing cards with a classmate.
As an alternative of you every having to belief the opposite to play honest, you give your playing cards to a buddy, who verifies each playing cards are legit earlier than finishing the change.
Atomic swaps are kinda like that, however for crypto tokens — and so they’re verified by pc code, as a substitute of a (doubtlessly corruptible) human center man.
Excellent news for Web3 security:
There’s an organization known as Portal which has simply closed a $34M funding spherical, with plans on making a DEX that helps atomic swaps.
We like to see it!
