DexTrac

Chainlink Labs CBO Johann Eid on why institutions like Swift, DTCC, and J.P. Morgan are exclusively working with Chainlink for oracle and cross-chain infrastructure “You can’t move fast and break things as an infra provider. Your motto needs to be: it’s either safe or you don’t release it” “From our end, for instance, on the cross-chain side, we have sixteen node operators which are running the cross-chain. So, if you wanted to actually attack the network, you would need to hack each single one of these node operators” “One of the key reasons why you're seeing Chainlink work with all of these traditional finance names—from JP Morgan to DTCC to SWIFT—is because they're focused on security” “And you notice there is no other oracle working with them; there is no other cross-chain provider working with them. We're the only ones”

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Chainlink CCIP: For when 99% is not enough.

Chainlink CCIP uses separate Oracle networks not three nodes. Decentralized by default

Chainlink CCIP: The secure & decentralized cross-chain standard. ⛉ Extensive audits ⛉ Battle-tested infra ⛉ Defense-in-depth security ⛉ 16 independent node operators ⛉ Configurable rate limits & circuit breakers ⛉ ISO 27001 and SOC 2 Type 2 certifications

Sergey explains why CCIP is the most secure cross-chain infrastructure “CCIP has many individual key security design decisions, but three of the larger ones that I tend to think about when I look at its security compared to other cross-chain systems would be the amount of decentralization that actually confirms a transaction” “There are cross-chain systems that are basically multi-sigs of one, two, three sets of signers or keys. Then there are cross-chain systems that are basically hubs where all transactions flow through one hub” “And then there's CCIP, which for every single lane has three oracle networks. Not three nodes, but three individual separate networks responsible for confirming three separate aspects of the transaction” “The amount of decentralization within CCIP just by the amount of nodes independently verifying key parts of the transaction in a very focused way is at a much higher level than any other bridge” “The second key difference is the fact that there's a risk management layer. So, there's a risk management network, which is one of those key networks where you can encode specific policies and configurations and conditions around how to approach different security risks that might emerge” “If a specific chain has a certain type of risk—it reorgs, there's reliability issues, an adversary has invented a new attack—you have a place where you can go and you can write some code and encode those set of risks and those set of conditions separately from the core protocol” “So, you're not changing the core protocol that provides the core security; you're adding security by putting more conditions on what a transaction needs to meet in the risk management network” “So, you're keeping the core security in a stable protocol and you're adding more security by putting more code, more configurations in the risk management network. This is another kind of layer of decentralization and the ability to quickly adapt” “One of the third key things that was done is actually that the two core transactional networks—the committing DON and the executing DON—and the risk management network have been written in separate codebases” “The core protocol is written in a completely separate codebase in a completely different language, initially written by a completely separate team from the team that wrote the risk management network in its own codebase and its own language” “And both of these parts of the system are continuing to be very separate not only in how they operate, but also in that they're separate codebases written in separate different languages” “And this is a very significant difference because even if you're able to break one of those codebases because you know one language or you found one flaw, that flaw does not extend to the other codebase” “And so it's really the only bridge in which you have a kind of client diversity and separate codebases interacting with each other in a secure way” “There's many other great security features within CCIP that far surpass what you see in other bridges, and that's why CCIP has been operating successfully with no value loss, no hiccups, continual reliability, and a bunch of other successful outcomes” “I think it's something that the time that it took to build was a good decision, and that's consistently what I see when you make infrastructure that's going to process and move and interact with trillions of dollars in transactional value, which is what the Chainlink system and CCIP are being built to do” “Our goal is not to just transact and process the transactions and move the data of today, but it's to do that for the whole world in the trillions and trillions of dollars, possibly at some point even reaching the size and amount of transaction value that you see in the traditional financial system, which is in the quadrillions per year”