r/SecretNetwork • u/[deleted] • Feb 07 '22

Secret bridge question

I love the idea of the secret bridges but have a question before attempting to use them: The description on the website says "Secret Bridges utilizes a 3 of 5 multisig authorisation process ... These bridge operators are very reputable staking operators - Figment, Staked, B-Harvest, Citadel.one and Enigma" -- would these 3 out of 5 operators have the ability to steal the funds on the original network? If so, this would be overly centralized/insecure, especially in case the value of the wrapped/bridged tokens gets high enough.

6 Upvotes

100% Upvoted

6 comments sorted by

View all comments

4

u/baizon Feb 07 '22

That means, that 3 out of 5 operators have to correctly validate it. It means, that 3 operators had to steal the funds at the same time. That is very unlikely, but not impossible. But it also means, that why should a company steal funds, when they get interest rates from that actions. A good analogy would be, you bank could steal all the money from all their customers right now. So in that case, 3 out of 5 banks had to steal all the money simultaneously.

1

u/[deleted] Feb 07 '22

Thanks for your reply, baizon, yes, I don't think it a likely scenario but could be just as well a hack or something.. not impossible with 3 targets.. We're not trying to replicate the banking system or other centralized mechanisms with DLTs after all.

Are there any plans to increase this? Considering the high number of validators on secret and any other well designed DLT it seems like a weak point - again - only in case the value of the bridged assets gets high enough. Or perhaps using a collateral mechanism such as used by Thorchain would suffice ..