On March 23, 2022 an exploit of the Ronin bridge was announced[1] by the network. In this article, we will review how the hack occurred, and how it could have been prevented. The Ronin bridge is similar to other bridge technology,[2][3] whereby an asset in one network, in this case Ethereum -ETH, is locked in a contract, and an equivalent of it, in this case WETH, is created in the other network, in this case the Ronin network.

Ronin network described the exploit somewhat clearly in a release on their site: “ There has been a security breach on the Ronin Network

Originally published at https://medium.com on April 20, 2022.

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On Feb 2, 2022 an exploit of the Solana-Ethereum bridge was revealed. In this article, we will review how the hack occurred, and how it could have been prevented. The Wormhole works similar to basic bridge principles, whereby assets are sent to a vault contract on the source blockchain, locked in that vault, and a watcher on the second blockchain mints the same form and value of that asset on the second blockchain. A good summary of how bridges can be found in an earlier publication I shared here and here.

Originally published at https://medium.com on February 18, 2022.

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Architecture of a Sample Cross-Chain Asset Transfer Process Between Blockchains Using Similar Address Hashes

Consider a situation where blockchain assets and smart contracts functioned in an interoperable manner across different chains. This would have several benefits for the entire industry. Firstly, it would address the transaction limits on some chains by allowing tokens and assets to move fluidly to less congested chains — a type of inter-blockchain sharding. Secondly, it would allow tokens to move to chains where there are features or preferred applications for some specific…

Originally published at https://medium.com on October 28, 2021.

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Toronet Admin.

Toronet Network Publications and Educational Resources