Trust in Apps: Safer Cross-Chain Transactions
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About this video
In this clip from the Chain Abstracted podcast, we discuss how trust between users and applications is essential to reducing risk in cross-chain transactions. A system that evaluates transactions and provides risk assessments based on the chains involved will help users make more informed decisions in decentralized ecosystems. #CrossChain #Blockchain #CryptoSecurity #DecentralizedFinance #ChainAbstracted #Web3Security #CryptoTech #nearprotocol
Transcript
134 wordsCaptions as YouTube publishes them, usually machine-generated, so product and people names can be misheard.
- 0:00
in terms of reducing this risk specifically um I think a lot of it is going to just come down to trusting applications and so applications that are trustworthy are going to ultimately win in the market um under this these conditions so like if you have a sequence of transactions it it'll like look at those transactions to see what chains are being interacted with and then before you confirm it'll say here's like the risk assessment of this transaction it's really high right now because you're interacting with a chain that has um you know five alltime
- 0:24
transactions on it and so you want to be wary of that and to achieve that there has to be some degree of trust between a user and the ultimately the application that they're using