Ahmet Cosmos (🍆,🍆)

10K posts

Ahmet Cosmos (🍆,🍆) banner
Ahmet Cosmos (🍆,🍆)

Ahmet Cosmos (🍆,🍆)

@hotcoffeedex

☕️ │ 🏳️‍🌈 (avatar by @ChellayTiger)

/home Katılım Aralık 2021
582 Takip Edilen166 Takipçiler
Zach Rynes | CLG
Zach Rynes | CLG@ChainLinkGod·
The $290M rsETH bridge exploit appears to be the result of a compromised 1-of-1 DVN configuration on @LayerZero_Core The sole validator was @LayerZero_Labs itself, meaning one forged transaction from a single entity was sufficient to drain the entire bridge In other words, a single point of failure (either private key or 3rd party RPC compromise) I flagged this centralization risk years ago, unfortunate that it took an exploit for the issue to get broader attention
Zach Rynes | CLG@ChainLinkGod

.@LayerZero_Core’s marketing is so incredibly misleading at times, it’s absurd Take their “Decentralized Verifier Networks (DVNs)” for example DVNs are the infrastructure responsible for validating cross-chain transactions in the LayerZero ecosystem By the name, you would assume a DVN by definition is a decentralized network of node operators, right? Well no, in most instances the term “DVN” actually refers to a centralized company (a single node operator) Take their most popular DVN for example, which by default is used by most projects and therefore their associated volume in the LayerZero ecosystem It’s the “LayerZero DVN”, a centralized node run by the LayerZero Labs team themselves Not decentralized, but still called a decentralized network anyways, pretty continent security theater marketing Imagine you’re a user and you’re told a dApp’s cross-chain interactions are secured by the “LayerZero Decentralized Verifier Network” What impression is the user supposed to get from that other than thinking it’s a decentralized network and not a single centralized node? Now some may try to explain away this terminology by saying that a DVN could theoretically be decentralized in some circumstances But looking at the official list of all the DVNs in their docs, almost every single DVN is just a centralized team/company And the ones that aren’t, are often just a wrapper around another protocol that’s actually attempting to solve the cross-chain problem in a decentralized manner like CCIP or Axelar that can be used without the LayerZero framework Some may also argue that you’re supposed to compose multiple DVNs together in order to make it decentralized But (1) that doesn’t justify calling infra run by a centralized company a decentralized network and (2) the default path that most projects take is to use the centralized LayerZero Labs DVN given its chain support over other DVNs Even their flagship bridge @StargateFinance only uses a whopping 2 DVNs (one of which is the team themselves) This fantasy of projects composing networks out of DVNs just isn’t what we see in reality in the majority of situations Most devs simply do not any to deal with the massive security-sensitive problem of managing, configuring, securing, or running cross-chain infrastructure, they just want something that works Centralization runs rampant in the LayerZero ecosystem but the terminology may make you think otherwise

English
44
78
605
71.5K
Ahmet Cosmos (🍆,🍆)
Ahmet Cosmos (🍆,🍆)@hotcoffeedex·
seems like Defi is consist of vaults that are exposed to other vaults that are exposed to other vaults.
English
0
0
0
1
Ahmet Cosmos (🍆,🍆) retweetledi
Zaf
Zaf@Buenozaf·
For those who missed it: this was the moment The Strokes ensured they’ll never set foot in Coachella again! I'm so proud of them #Strokeschella
English
108
3.8K
32.5K
970.5K
Ahmet Cosmos (🍆,🍆)
Ahmet Cosmos (🍆,🍆)@hotcoffeedex·
Pheeew, withdrew yoETH about 12h before, after reading yoUSD price adjustment by the protocol, which was a huge bummer. I like @yield, but exposure to different vaults ate all the yield (still better than single exposure but for now raw dogging ETH/USDC)
YO@yield

The yoETH vault is temporarily paused due to a 1.9% indirect exposure to rsETH through earnETH. Redemptions have already been initiated. The YO team will share more updates as information becomes available. No other vaults are affected.

English
0
0
0
26
jacques
jacques@flamencolambada·
about to listen to the new M.I.A. album
jacques tweet media
English
41
1.5K
22.3K
476.9K
Grey Ledger
Grey Ledger@Airdrops_one·
Respect to @sunnya97 for being direct post-vote. A lot of founders would’ve dragged this out. The @osmosis aftermath is a good reminder: tokens are not equity. They’re a bet that the team keeps building, with zero contractual obligation that they do. This isn’t an Osmosis problem. It’s a token market problem. Nothing personal, just incentives. 🫡
Grey Ledger tweet media
English
12
1
40
4.8K
Ahmet Cosmos (🍆,🍆)
Ahmet Cosmos (🍆,🍆)@hotcoffeedex·
@Cryptogripped The new roadmap is ok, hope they strike the deals and it works for them but i don’t see anything interesting from a user perspective. Hope we’ll have some reason to keep Keplr installed.
English
0
0
1
34
Ahmet Cosmos (🍆,🍆)
Ahmet Cosmos (🍆,🍆)@hotcoffeedex·
So the biggest nail in the Cosmos’ coffin arrived. It was a nice ride for some time.
GIF
English
0
0
1
14
Robust Feed
Robust Feed@RobustFeed·
My signature garlic pasta recipe
English
59
347
5.2K
1.4M
beanmouth strikes again
beanmouth strikes again@piperocktheory·
said this a million times but Apple are idiots for not doing a 25th anniversary iPod this year clickwheel, multiple colors, Apple Music, Bluetooth and AirPods support, a good DAC and storage up to 2 TB just to appease the audiophiles — boom, you have the product of Christmas 26
New York Post@nypost

Gen Z and parents favor old-school tech like iPods and digital cameras for a simpler, less plugged-in life: 'People are just sick of it' trib.al/5jaxgnn

English
627
5.3K
97K
3.5M
kmkz
kmkz@kmkz_security·
0day delivery
kmkz tweet media
English
26
88
1.4K
45.6K
Erin Vanderberg
Erin Vanderberg@ErintheCyborg·
Cosmos labs-- great job kids!
Erin Vanderberg tweet media
English
3
0
12
914
Joe 2.0🎙️
Joe 2.0🎙️@joe4deadcat·
Attention: @cosmoslabs_io ⚛️ You DO NOT need 200 validators & $10m USD per month inflation to mint 1-2 transactions per block. Where’s $ATOM “enterprise” adoption? 🧐 Why not work with @akashnet and @Jackal_Protocol to build out REAL apps?
Joe 2.0🎙️ tweet mediaJoe 2.0🎙️ tweet mediaJoe 2.0🎙️ tweet mediaJoe 2.0🎙️ tweet media
English
12
2
71
3.5K
taipan168
taipan168@taipan168·
As an airport code nerd, it grinds my gears to see this, because LDN airport is an airport in Nepal, rather than in a global city with red telephone boxes.
taipan168 tweet media
English
80
187
5.4K
1.4M
Simon Sarris
Simon Sarris@simonsarris·
why do the Japanese like their buns askew?
Simon Sarris tweet media
English
472
376
17K
16.1M