Blockchain
By Dan Saada
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In a discussion about Oracle Hacks, Sergey Nazarov pointed to how ChainLink could have avoided these.
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He stated that generally, all of these hacks have a common thread, whether they are related to flash loans or whether they are related to using single centralized exchange as a…
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I think the threat is people are relying on a single source, whether it is a decentralized exchange or whether it is a centralized exchange as the price source.
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Now, this is something that we have been trying to explain to people for years now. Last year, we put in a lot of information about this.
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The explanatory is pretty straight forward. You basically find a DeFi protocol that uses a single exchange as its source of price data.
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And, baking your own oracle is in some way akin to rolling your own crypto or making your private key in to a security device or something like that, because it is a much more…
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Right, so the way that ChainLink solves these problems and it has always been resistant to these problems ever since the first day of its operation – it is that we do not source…
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